Richmond American Expands with $7.7 Million Acquisition in Saguaro Reserve at Dove Mountain

MARANA, AZ (September 30, 2025) — Richmond American Homes of Arizona has made another decisive move in the Northwest Tucson housing market at Saguaro Reserve at Dove Mountain, acquiring more than 100 residential lots in the Saguaro Reserve subdivisions at Dove Mountain.

On September 4, Richmond American closed on two related transactions totaling $7.73 million, securing 118 platted and engineered lots across Saguaro Reserve II and III.

The first purchase involved 34 lots in Saguaro Reserve III for $2.55 million, or roughly $75,000 per lot, from Pusch Ridge Christian Academy, Inc. The 50.27-acre site, located along West Saguaro Perch Way, was sold as a fully engineered and platted subdivision intended for single-family home construction.

The second deal was significantly larger: 84 lots spanning Saguaro Reserve II and III were acquired for $5.18 million, or about $61,666 per lot, from longtime Dove Mountain master developer Cottonwood Properties, Inc. This transaction was structured as part of a double escrow and rolling option, underscoring Cottonwood’s ongoing land disposition strategy and Richmond’s aggressive lot-take-down program at Dove Mountain.

Saguaro Reserve is one of Dove Mountain’s most sought-after enclaves, designed exclusively for single-story desert living. The community features contemporary ranch-style homes with options for RV garages, expansive lots, and proximity to trails, golf, and preserved open space. Richmond American has been actively building in the neighborhood, offering floorplans between 1,700 and 3,500 square feet, with 2–5 bedrooms.

Part of Dove Mountain’s larger 6,000-acre master plan, Saguaro Reserve benefits from its scenic mountain setting, top-ranked golf courses, and extensive preserved desert lands. Residents also enjoy convenient access to Marana’s retail centers, employment corridors, and I-10, making the area attractive to both year-round residents and seasonal buyers.

Richmond American’s expansion continues a trend of strong builder activity in Northwest Tucson. Earlier this year, the company acquired 90 lots in Saguaro Reserve III for more than $8.3 million, as part of a rolling option agreement for a total of 236 lots. The latest purchases bring Richmond closer to full build-out of its planned footprint in Dove Mountain, where demand for high-quality housing remains robust.

With competition among national and regional builders intensifying in the submarket, these deals highlight both Richmond American’s commitment to growth and Dove Mountain’s enduring appeal as one of Southern Arizona’s premier master-planned communities.

Source: RED Comps #12099 and #12101