Pulte Homes closed on additional land for 241 SFR lots in the Del Webb at Dove Mountain Active Adult Community where it plans to build approximately 650 homes on 208 acres when complete. The latest takedown for 241 lots sold for $6.96 million ($28,863 per lot). This was phase three of a five phase option.

Sales have been brisk in this Del Webb community since it broke ground in February 2013. To date Del Webb has sold 98 homes, closed on 65 of these with 33 under construction. As reported back in February, there were nearly 100 inquiries within a day of posting a “coming soon” sign on the property.

Del Webb Corporation was acquired by Pulte Home in 2001 and is a leading builder in active adult communities. The Del Webb at Dove Mountain Community is located southwest of the Ritz Carlton Resort off Dove Mountain Blvd and is a mixture of 40-, 50- and 60- foot wide lots.

Bob Hadd of the Hadd Company in Tucson represented the seller, Cottonwood Properties’ affiliate, DM Phase IV Investments, LLC (Carson Mehl, member).

Cottonwood Properties of Tucson is privately owned and the original developer of the 6,200-acre Dove Mountain community in Marana, Arizona. In addition to the many neighborhoods within Dove Mountain, Cottonwood developed The Ritz-Carlton Resort, Residences and Golf Club – home to the Accenture Match Play World Golf Championships.

Recently, a 2.04 acres sold at The Ritz-Carlton Resort, Residences and Golf Club for $845,000 for a single custom home lot to an out of state buyer. “We’re very happy with the activity we’ve been seeing at Dove Mountain,” Carson Mehl, president of Dove Mountain Homes, told us. “This was the highest price paid for a single lot since the recession.”

In addition at Dove Mountain, Mattamy Homes recently opened with 11 sales and Miramonte Homes has models under construction that should be ready in a couple of months.

Also in the Northwest, at nearby Tortolita Vistas, Maracay took down six more lots for $963,230 ($160,538 per lot). Located north of Tangerine Road on Thornydale Road, Tortolita Vistas is set in the foothills of the Tortolita mountain range, surrounded by stunning views. Homes are on over-sized one acre sites that feature lush desert open space. Maracay is building a total of 54 homes that began October 2013 in Tortolita Vistas.

Will White of Land Advisors Organization in Tucson represented Maracay in the rolling option.

To learn more, Hadd can be reached at 520.403.2812 and White is at 520.514.7454. Mehl can be contacted at 520.572.8000.

Also see RED Comp #3321 and #3328.

Related story: A Perfect Storm for Home Builders at Dove Mountain

During the month of May, the Northwest submarket had 188 total platted lot sales, the southern submarket had 37-SFR lots and in the southeast there were 55 tentative lots, totaling 280 lots for the month.

NORTHWEST SUBMARKET

Meritage Homes of Arizona (Briana Rader, acquisitions) has purchased 120-platted lots at the southwest corner of La Cholla and Naranja in Oro Valley for $5.82 million ($48,500 per lot). The final plat was approved on May 6 for 55’ and 70’ wide lots being called The Estates at Capella, located adjacent to Ironwood High School. The unique property will incorporate the natural arroyos into the corners of the subdivision and incorporates natural site landscaping into the plan.

The seller, La Cholla 331 Property LLC of Tucson (Herbert Kai, manager) was represented by Greg Wexler with Wexler & Associates in Tucson. The buyer was self-represented in the transaction.

To learn more Wexler can be contacted at 520.744.8500 x 101. See also RED Comp #2934.

Pulte Home Corporation bought 68-platted lots in Dove Mountain for $2.054 million ($30,206 per lot) for the next phase of the Del Webb at Dove Mountain Active Community in Marana. Pulte has acquired 265-lots of this 650-lot rolling option of 208 acres here. The Del Webb at Dove Mountain Community is located southwest of the Ritz Carlton Resort off Dove Mountain Blvd and reportedly consists of a mixture of 40′, 50′ and 60′ lots.

Cottonwood Properties through affiliate, DM Phase IV Investments LLC (David Mehl, CEO) was the seller and represented by Bob Hadd of the Hadd Company in Oro Valley.

To learn more Hadd should be reached at 520.403.2812. For additional information see RED Comp #2941.

SOUTHERN SUBMARKET

Richmond American (Jim Gaulin, Director of Land Acquisitions) acquired 37-SFR lots for $1.26 million ($34,000 per lot) at Los Arroyos in Sahuarita, the southern submarket of Tucson. Los Arroyos is a 503-lot subdivision. The transaction included 70’x 115’ and 40’x 115’ lots. The seller, Kaufman Capital of El Segundo, Calif was represented by Brian Rosella with DTZ in Phoenix. There were no options involved.

To learn more Rosella can be reached at 602.224.4468. For additional details see RED Comp #2885.

SOUTHEAST SUBMARKET

Crown West Realty (Dean Wingert, VP) bought 47-acres at Santa Rita Ranch III in Vail from Arizona Equity (Eric Abrams, managing member) for $220,000 for development of 55-tentative lots ($4,000 per lot). The property sold with a tentative plat submitted but unapproved for (55) 70-foot lots. This is the second and final takedown of an option agreement between buyer and seller that started in 2013. In phase 1, Crown West has platted 275-lots, 50 ft. / 60 ft. by 110 ft. lots, for a total of 330 lots being developed her by Crown West.

The area has been designated by Pima County as a prime growth area, as Tucson continues to expand. Via Interstate 10, Santa Rita Ranch MPC is approximately 15-30 minutes from Tucson International Airport, Downtown Tucson, the University of Arizona, the U of A Science & Technology Park and Raytheon. Future residents of Santa Rita Ranch III will send their children to schools within the Vail School System, the highest ranked school district in the Tucson M.S.A.

There were no brokers involved in this transaction. For additional information see RED Comps # 1612 and #2887.

KB Homes is back at Gladden Farms acquiring a tentative plat for 138-lots in this Northwest community for $1.859 million ($13,471 per lot). The seller, Petrus Partners, Ltd., operating in Tucson under the name of Crown West Land Group sold the 50’x 120’ tentative 138-lots to KB Homes with deferred consideration on the homes when they sell.

Will White and John Caroll of Land Advisors Organization in Tucson handled the transaction for buyer and seller.

Pulte Home Corporation (NYSE:PHM) paid $1.008 million ($29,647 per lot) for 34 platted lots at Dove Mountain in Marana in the Del Webb at Dove Mountain Active Adult Community where it is planning to build approximately 650 homes on 208 acres when complete. This is the second phase of a five phase option agreement with Cottonwood Properties, Inc. and DM Phase IV Investments, LLC (David Mehl, CEO).

Del Webb Corporation was acquired by Pulte Home in 2001 and is a leading builder in active adult communities. The Del Webb at Dove Mountain Community will be located southwest of the Ritz Carlton Resort off Dove Mountain Blvd and have reportedly a mixture of 40′, 50′ and 60′ wide lots.

Bob Hadd of The Hadd Company represented the seller in the transaction.

In a separate transaction, Pulte Home bought approximately 116 acres in the vicinity of Tanque Verde and Houghton Road in Northeast Tucson for $4.14 million ($84,480 per lot). The Desert Willow Ranch is to be a gated community that sold 49-fully entitled lots on 41 acres surrounded by a conservation natural area that runs along the Agua Caliente Wash. The lots will be 12,500- and 18,000-square-feet in size. The seller was Tucson developer, Richard Price.

To learn more White and Carroll should be contacted at 520.514.7454. Hadd can be reached at 520.403.2812.