Recent Residential Development Sales in Metro Tucson Total $6.27 Million

Meritage Homes of Arizona purchased 26.72 acres block platted land at Silverhawke North subdivision in Oro Valley, in the northwest submarket of Tucson, for $3,489,575. Zoning for the block is R1-7 but the number of lots was undetermined. The seller, Capri Company of Tucson (Herb Kai, manager) was represented by Greg Wexler and James Kai of Wexler and Associates in Tucson.

Pepper Viner bought 51 finished lots in the Silverbell Residential subdivision, located in the western submarket of Tucson, near Silverbell and Goret, for $1.581 million ($31,000 per lot).  The seller, Rancho Bridge, LLC (Greg Anderson, manager) purchased the lots in 2013 for $700,000. Dan Feig with Chapman Lindsey Commercial Rea Estate Services handled the transaction for the seller.

KB Homes owns 35 lots near this property at La Cholla & Oracle Jayne Station, and purchased an additional 10-SFR lots as an extension to that project about 1.2 mile away for $675,000 ($67,500 per lot).  Property consists of 10 finished lots with random dimensions, approximately 8,000-square-foot lots. Buyer plans a new 25′ with 2-story product for these lots. Subdivision may be renamed The Station at La Cholla or The Station at San Joaquin. Jim Vincent of the Carlier Company represented the seller, Catland Properties, LLC of Tucson and Aaaron Mendenhall with KB Home Tucson represented the buyer.

As part of a rolling option, Richmond American Homes of Arizona, Inc. purchased six finished lots from Tucson Land, LLC at Santa Cruz Meadows in Sahuarita. The purchase price was $300,000 ($50,000 per lot) for the sale. The seller was represented by Randy Emerson of GRE Partners, LLC.

As part of a rolling option, Miramonte Homes purchased 4 townhome lots at La Reserve Villas for $220,000 ($55,000 per lot).  The builder is constructing 49 townhome lots in La Reserve Villas in Oro Valley in the northwest submarket.  The seller is Pusch Ridge Properties, LLC of Pilot Hill, CA.

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