TUCSON, ARIZONA (December 15, 2023) --The Star Valley master-planned community continues to be “main and main” for homebuilders in Tucson's southwest sub-market. Meritage Homes and Lennar continued their expansion by purchasing 272 finished lots that will serve as the next phases for each builder.
Both builders are active with their current communities in the Las Patrias project at Star Valley (Meritage) and Destiny Collection II at Star Valley (Lennar). Sales and permitting have continued to find renewed strength in 2023. This activity has fueled the demand for additional lots to be purchased and prepared.
The Seller in the transactions was the developer GAC Star Valley, LLC, a partnership managed by Sunbelt Holdings, including Rick Andreen and Mike Geddes of Phoenix. The project was initially purchased by Geddes and Andreen of Scottsdale in 2019. Earlier in 2020, Geddes and Andreen partnered with Sunbelt Holdings to develop the remainder of the project. Sunbelt Holdings has emerged as one of the largest master developers in the Tucson region, developing well-known projects such as La Estancia, Red Rock Village, Sycamore Canyon, and Monarch in Marana.
Lennar Arizona purchased 81 lots 45'x115' in Phase 4B, and Meritage Homes purchased 191 lots in Phase 7, 4A, and 4B 40' and 45’x115'. There are additional lot sales in the works scheduled for Q1, and the continuation of several plats is being processed for approval into 2024.
The transactions were handled by Will White and John Carroll of Land Advisors Organization in Tucson. Land Advisors has the marketing assignment for all lot sales at Star Valley.
White commented, "The Star Valley MPC continues to be the dominant supplier of shovel ready lots in Tucson’s southwest submarket. The project continues to deliver lots seamlessly to its homebuilder partners, showcasing synergy and momentum. With several hundred lots in discussion and/or being prepared, Star Valley looks to head into 2024 full stride.”