Homebuilders enthusiastic for more lots last month were DR Horton, Maracay Homes and Insight Homes. In three separate transactions, only 37 lots sold during the month of January in the Tucson metro area with half in the Northwest and half in the Westerly submarket of Tucson.

NORTHWEST SUBMARKET
Insight Homes of Tucson (Mike Jones, manager) purchased 12-SFR lots at the new La Canada Ridge for $1.23 million ($102,000 per lot). The lots were platted and engineered and buyer had an option for an additional 21-lots from Sharpe & Associates of Tucson (Bob Sharpe, manager) Insight Homes is a custom home builder in Tucson, Oro Valley, Marana and Dove Mountain. La Canada Ridge is a 33-SFR development, located southwest of Moore Road and La Canada. Ted Herman with Sharpe & Associates represented the seller and Ben Becker with CBRE in Tucson represented the homebuilder. For more information see RED Comp #2401.

Maracay Homes took down an additional 6 finished lots at Tortolita Vistas as part of a 54-lot rolling option with Ready Eight Corporation, an affiliate of Cottonwood Properties (David Mehl, manager) for $945,765 ($157,628 per lot). With this purchase, Maracay has taken down 19-lots in this gated community since October 2013 when the option began. These over-sized one acre home sites feature lush desert open space. Conveniently located just north of Tangerine Road on Thornydale Road in Marana, the Tortolita Vistas community is set in the foothills of the Tortolita mountain range, surrounded by stunning views. Will White and John Carroll of Land Advisors Organization in Tucson represented Maracay in the transaction. For more information see RED Comp #2397.

WESTERLY SUBMARKET
Tierra Valencia of Tucson, an affiliate of the Estes Companies (Bill Estes III, manager) sold 19-SFR lots at Eagle Point Estates to D.R. Horton in Tucson (Brent Davis, Division President) for $712,000 ($37,500 per lot). This is the first takedown of an 83-lot option agreement at Eagle Point Estates, located to the Northwest of Valencia and Vahalla Roads in the West Tucson submarket. The 19 finished lots total 4.96 acres. Dan Feig and Aaron Mendenhall of Chapman Lindsey represented D.R. Horton.  For more information see RED Comp #2407.

To learn more Ted Herman can be reached at 520.299.8766. Ben Becker is at 520.323.5100 and Will White and John Carroll should be contacted 520.514.7454.

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[mepr-show rules=”58038″] # 1 sale above: Insight Investment Company was buyer at La Canada Ridge. Sale date: 1/2/2015. Fidelity Title Trust #60,217 Sharpe & Associates, beneficiary and the seller. Exact sale price was $1,260,720,Down Payment was $1,020,000. The sale price has broker’s commissions included. APNs: 219-49-104 thru 115.

#2 sale above: Maracay 91, LLC was the buyer. Sale date 1/5/2015. Sale price: $945,764.60, down payment: 890,764.60. There are fees for infrastructure included in sale price that make the price per lot different in each take down. APNs: 219-36-014, 045, 046, 048, 066 & 092 all over 1 acre in size irregular lots.

#3 sale above:  D.R. Horton was the buyer. Sale date: 1/13/2015. Sale price $712,500 all cash. APNs: 210-15-304 thru 306, 321, 322, 779 thru 785, 792 thru 796, 798 & 805.[/mepr-show]

La Posada Holding Company of Green Valley has assembled 79.46 acres at Lambert Lane and 1^st Avenue in Oro Valley for $5.25 million ($66,071 per acre) with the intent of constructing a ‘Continuing Care Retirement Community’ being called La Posada at Rooney Ranch similar to its existing La Posada at Park Center in Green Valley.

“A preliminary plan for the continuing care campus was delivered to Oro Valley Planning Department this week,” we were told by Senior Planner, Matt Michels. “The plan calls for a PAD amendment for use change and includes a 5-story building and a series of clustered enclaves integrated into the project.”

It was the 5-story building being proposed in Oro Valley that struck my interest, so I made a visit to the Oro Valley Planning Department to look at the plan proposal myself. The visual impact of a 5-story building on this site is greatly reduced, due to the recessed grade being below street level. As the plan elevations show, the visual impact is greatly curtailed for this reason and the plan does have a special focus on the Sonoran Desert environment.

The project in this preliminary stage would have its primary access off Lambert & First, a 10,000-square-foot Village Retail Café, a 2,500-square-foot wellness center, an Entertainment Village with theater, classrooms, an adult daycare, playground and outdoor Amphitheater. The plan is to have apartments, townhomes, and individual residences: 17 residential cottages with attached garages (avg. 1,400 SF each), a core 200-unit apartment building (avg. 1,300 SF each) with underground parking for residents and employees, a Villa with 22-units on two floors, and 5-units with attached garages called Hill Villas (avg. 1,600 SF each). Restaurants, Bar & Bistro, offices, flex rooms, beauty shop, card rooms, tech room, arts and crafts, post office and guest units are all included, as well as outdoor patios, swimming pools, cabanas, a community park with a dog park, community gardens, BBQ, and a water splash. There would also be 19 residential estate homes (avg. 2,000 SF each), a 42-unit skilled nursing care and 30-unit memory care center for all stages of adult life care.

La Posada representatives were not available to discuss the project or respond to the total building square-footage of the project, something not found in the preliminary plan.

We did discover that La Posada at Park Center in Green Valley is a 25 year old, not–for-profit model for this continuing care retirement community. La Posada is the largest senior service provider in Southern Arizona, servicing over 700 residents and utilizing a total of 477 independent living apartments, townhomes, and individual residences, 85 assisted living suites, 29 memory care and 58 skilled nursing care suites.

The continuing care campus in Green Valley was founded in 1987 as part of Tucson Medical Center’s vision to bring needed programs and services to the senior residents of Green Valley located south of Tucson. In 1997, La Posada became an independent continuing care community. The 100-acre campus includes resort–style amenities, from swimming pools to hiking trails, and in 2010, La Posada added a retail component. The campus requires the skills of 540 full-time employees to maintain, manage and service the residents of the community.

La Posada at Park Center offers a variety of homes, gourmet dining, plenty of activities and more that bring a new adventure to all who seek an active, secure lifestyle.

A study conducted by students in the Eller MBA program under the direction of Prof. Price Fishback recently examined the economic impact of La Posada and stated, “Beyond the $52.9 million annual economic impact from La Posada’s operations, the study looked at the quality of life impact that La Posada brings to the region. These “intangible” benefits include the personal benefits of volunteering and several cornerstones of healthy aging: socializing, having a sense of belonging and a healthy diet. The report also pointed to La Posada’s community outreach programs, including Casa’s Adult Day Services, which provides respite care for family caregivers, La Posada’s new wellness – based Mosaic program, and Community Connect, which offers information and referral to all, as bringing higher quality of life to the region.”

The Eller team calculated that each dollar directly spent locally by La Posada has the effect of $1.86 in the local economy.

A public meeting date will soon be set for Neighborhood comments, the next stage in the plan approval process.

Jim Marian, CCIM, of Chapman Lindsey Commercial Real Estate handled the portion of the assemblage owned by Rooney Ranch. La Posada and Pepper Viner, the seller of the other portion, were self-represented.

Marian can be reached at (520) 622-8864 ext. 106 for more information.

Aggregate sales of $6.21 Million closed in Southwest Submarket for Tucson Home Builders from March 25-April 1, 2014

Richmond American Homes of Arizona (James Gaulin, Director of Land Acquisition) closed on 114 SFR lots at Westview Pointe for slightly more than $2.9 million ($25,458 per lot). The lots were partially complete having been started in 2000 by Red Point Development then halted in 2008; property sold with re-approval of plat needed.

Located at Ajo & Camino de Oeste, Westview Pointe has 70’x 115’ lots, and mountain vista views of the Tucson Mountains. Richmond will be building their Brittania and Thomas models here, both two-story homes to take full advantage of the views.

Gaulin told us Richmond American has 12 active communities in Tucson and he anticipates Westview to start building in June, for an August opening, along with Sycamore Canyon making 14 Richmond American communities in the Tucson area.

Dan Feig and Aaron Mendenhall of Chapman Lindsey Commercial Real Estate handled the sale for the seller while the buyer was self-represented.

Rancho Sahuarita VIII, LLC an affiliate of Sharpe & Associates (Bob Sharpe, manager) sold 65- finished SFR lots to KB Home Tucson, Inc. at The Presidios at Rancho Sahuarita for $2.86 million ($44,000 per lot). The lots are 40’x 110’ and part of the Rancho Sahuarita master planned community.

Ted Herman with Sharpe & Associates of Tucson represented the seller in the transaction.

D.R. Horton took down a final option in a rolling option for 10-finished SFR lots at Sahuarita Highlands for $446,402 ($44,640 per lot). This concluded a total of 153-SFR lots for D.R. Horton in this subdivision that started in 2013 with Red Point Development as the seller.

Home models are 2-stories ranging in size from 2,000 t0 4,000 square-feet on oversized one acre lots.

Dan Feig and Aaron Mendenhall of Chapman Lindsey Commercial Real Estate represented the seller in the transaction while buyer was self-represented.

Feig and Mendenhall at Chapman Lindsey should be contacted at (520) 747-4000. Hermann with Sharpe & Associates can be reached at (520) 299-8766.

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Sale date on Westview Point: 3/25/2014. All cash deal. Lots 1 thru 114 and Common Areas A & B Westview Pointe bk 61 pg 31. APN: 119-45-023 thru 138.

Sale date on The Presidios at Rancho Sahuarita: 4/1/2014. All cash deal. Lots 863 thru 927 The Presidios at Rancho Sahaurita bk 60 pg 25, easements, rights, benefits and obligations. APN: 305-77-863 thru 927.

Sale date on Sahaurita Highlands: 3/28/2014. All cash. Lots 20-25, 134-136 & 141 Sahuarita Highlands bk 59 pg 90. APN: 303-54-044 – 049, 158-160, & 165.

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