Land Specialists, Dan Feig and Aaron Mendenhall with Chapman Lindsey of Tucson predicted the Houghton Corridor “hot spot” for housing last November (See https://realestatedaily-news.com/houghton-corridor-next-hot-spot-tucson-housing/). Fast forward three quarters and those predictions are ringing true. While the Northwest submarket continues to have the most communities and permits pulled, the Southeast has higher producing communities. During Q2 the Northwest had four communities with 10 or more new home starts, the most being 15 starts in Pulte’s La Cholla Vista community. During the same period the Southeast (including East Tucson) had six communities with 10 or more new home starts. Two communities, DR Horton’s Acacia Ridge and KB Home’s Cantabria at Rancho Valencia each had over 20 new home starts.

KB Home is betting heavily on the Southeast submarket as they have three communities in various stages of development there. There are 107 lots nearly finished in Mountain Vail Reserve that should be opening for sales later this summer. KB’s La Cima Esplendora site on Houghton and Escalante with 57 lots should also be completed by late 2014, with development of 68 lots in Santa Rita Ranch II in Corona de Tucson to follow by the end of year.

Both Richmond American and Lennar are also enjoying consistent sales in their Mountain Vail Estates communities. Since opening at the end of last year, Richmond has started 25 homes and Lennar another 18. Further south in Corona de Tucson Richmond enjoyed strong sales as it closed out its Aviara and Oasis Hills communities. Richmond will be opening the new community of Sycamore Canyon and are looking at other opportunities in the area to keep their momentum going in the Southeast.

After a slow start last year, DR Horton’s Acacia Ridge community in Vail has been a top performer this year. Since opening last summer, 55 homes have been built or started, 22 of which were started in Q2, 2014. It has been their top selling community in three of the first six months this year. Their Sycamore Vista community has also been doing well. Since purchasing 50 lots late last year, they have started construction on 32 new homes, including 12 in Q2. It has consistently been one of their top three communities for sales so far this year.

Pulte continues to do well at Sierra Morado. It currently offers four product series within the community and built 19 homes there during Q2. The product and lots were adjusted during the past couple of years as their small courtyard and z-lot configurations proved unpopular. However, their new larger and traditional lots and corresponding new product are selling well. Pulte has another unit of over 400 lots to develop for a long term presence in the area.

Developers also recognize the demand for housing in the Southeast submarket. Santa Rita Ranch III in Corona de Tucson was purchased last year by Petrus Partners/Crown West and received final plat approval for 275 lots during Q2. The owners of Sycamore Vista are also in discussions to sell additional lots in Unit 5. There are several more platted lot communities in the area that are worthy of attention as the demand for homes in Southeast Tucson continues to grow.

To learn more Daniel Feig can be reached at 520-747-4000 x103 and Aaron Mendenhall is at 520-747-4000 x102.

Faith Christian Fellowship of Tucson (FCFT) has purchased the former Community of Hope Lutheran Church at 3141 W Ironwood Drive in Tucson. The property commanded a sale price of $1.015 million ($83 PSF) in in REO sale. The 12,256-square-foot church (built 1994) on 3.58 acres had been vacant for about a year prior to the sale.

The seller was Gold Ring Holdings LLC, an affiliate of Thrivent Financial of Minneapolis, MN. Thrivent Financial specializes in Church and Institution Financing Programs designed to provide funding for new churches, school expansions, renovations and remodeling, as well as refinancing existing debt.

The seller also was able to do a seller carry back with the buyer.

Faith Christian Fellowship (FCFT) was founded in 2004 by Pastors Virgil and Judy Stokes. The rhythm of life at FCFT goes like this: Repairing Broken People… Preparing Willing People… Celebrating The Goodness of God…According to the church’s website, ”We believe that God saves and heals through faith in His Word & the Holy Spirit is welcome to manifest Himself in our services. Come early for coffee, stay late for fellowship, and experience our motto: The Word & The Spirit… Keepin’ it Real!”

The buyer will be relocating from its current location at 2425 N Huachuca Drive as soon as possible and hope to have no disruptions in services. The property sold with some deferred maintenance, estimated at about $25,000 to cure including deferred HVAC and roof work.

Alan Moore of Chapman Lindsey in Tucson represented the buyer and Rob Tomlinson of Cushman & Wakefield | Picor in Tucson represented the seller.

To learn more FCFT can be reached at (520) 792-FCFT. Moore can be reached at (520) 747-4000 and Tomlinson is at (520) 546-2757.

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[mepr-show rules=”58038″]Sale date: 6/12/2014. Down Payment: $79,000, seller financed the balance. APN: 116-04-120A. Property was on the market 14-15 months and was in escrow 90 days.[/mepr-show]

Haouala Real Estate Holdings, LLC (Ben Haouala, manager) purchased the medical office condominium at 6624 E Carondelet Drive in Tucson. The 1,362-square-foot office was a fully improved medical office condominium with 5 exam rooms, lab, x-ray, physician office, business office, reception, restroom, covered parking.

Located across from St. Joseph’ s Hospital it sold for $76,000 ($56 PSF). The seller, David A Englesberg was represented by Doug Richardson of Tucson Realty & Trust.

Jim Briggs of Cornerstone Realty in Tucson represented the buyer in the transaction.

In an unrelated sale, Vault Retirement Strategies, LLC (Frank & Susan Moore-Vault, members) purchased the property located at 6711 E Camino Principal, consisting of approximately a 1,424-square-foot office for $187,000 ($131 PSF). Located at the entrance to Tucson Country Club, this is most convenient to numerous restaurants and services along Tanque Verde Row.

The office layout has 5 offices, a break room and an inviting reception area and numerous high end built-in desks, wall units and cabinets. A single story garden office with parking at the front door.

Doug Richardson of Tucson Realty & Trust represented the buyer and Allan Moore of Chapman Lindsey represented the seller, La Plata Norte, LLC (Robert Caylor) in the transaction.

Richardson can be reached at (520) 577-7000 and Briggs is at (520) 320-9990. Moore can be contacted at (520) 320-9990 for additional information.