SCOTTSDALE, Ariz. – Scottsdale-based Sunbelt Holdings, who acquired the remaining 680-acres within the 1,000-acre Red Rock Village master planned community in 2018, announced the closing of the first 91 lots to Richmond American Homes. Sunbelt Holdings will begin development of the 50’x120’ sized lots in early 2020 in preparation for a Richmond American Homes’ model completion and grand opening late 2020.
Located in Pinal County, Red Rock Village includes an expansive amenity offering for residents including a 14-acre community park featuring a private water park, lap pool, basketball court, baseball field, skate park, children’s play area, picnic and shade ramadas, hiking and biking trails, and open space. The community is also home to the K-8 Red Rock Elementary school. Additional neighborhood parks are planned for future growth areas within the community.
“We are extremely excited to have closed our first lots at Red Rock Village with Richmond American Homes,” said Bob Bambauer, Executive Vice President of Sunbelt Holdings. “When we purchased the community in 2018, we were attracted and impressed by the extensive amount of infrastructure that already existed within the community. We also looked at the emerging rise of Tucson home prices and believe we could offer a level of affordability at Red Rock Village that would complement the market. We have some exciting plans for Red Rock Village and as we launch into 2020 we look forward to the development of the next era of this community.”
Will White and John Carroll with Land Advisors Tucson handled the transaction.
“Without question, affordability has become a challenge in the Tucson market. Red Rock Village is an established master planned community that allows for homebuilders to fill this niche as the Tucson metro median home price continues to rise,” said Will White. Due to supply and demand, we can’t see a scenario for the next few years that home prices come down and good alternative such as Red Rock Village will continue to be sought after by the region’s homebuilders.”
With the initial lots underway, Sunbelt Holdings is focused on future residential growth at Red Rock Village in 2020. An additional 250 lots are in the final stages of planning and are anticipated to be available for homebuilder sales in 2020.
“We are very excited to start this new phase of the Red Rock Village master planned community,” said White. “We have several active discussions going on additional homebuilders for a variety of lot sizes. With several hundred more lots coming on line in 2020 at Red Rock Village, we expect it to be extremely active. The builders have found success in Tucons’s master plans and Red Rock Village will be another opportunity that will provide affordability, great amenities, and a large pipeline of streamlined lot delivery for years to come.”
Located approximately 7.5 miles north of Marana, AZ the Red Rock Village community currently has approximately 900 completed homes. The community is planned to include approximately 3,800 homes at build out. Sunbelt Holdings’ additional Tucson and Pinal communities include the 565-acre La Estancia community, the 550-acre Sendero Pass community, and the 1,598-acre Sycamore Canyon community.
For more information, White and Carroll should be contacted at 520.514.7454