It was just a week or so ago, we were reporting on the perfect storm for homebuilders at Dove Mountain in Northwest Tucson, and now we have the highest land sale year-to-date to report from there. Texas-based, Forestar (USA) Real Estate Group (Bruce Dickson, chief real estate officer) closed on 98-platted lots at Boulder Bridge Pass II at Dove Mountain for approximately $5.9 million ($59,732 per lot). Click here for prior story from March 10.

Forestar (NYSE:FOR) is headquartered in Austin, Texas and manages three market segments: Real Estate, Oil and Gas, and Other Natural Resources. The Real Estate segment engages in the acquisition, entitlement, development, and sale of real estate; primarily residential and mixed-use communities and represents about 70% of the company’s business. Forestar sells residential lots primarily to homebuilders; and undeveloped land through its retail sales programs, as well as operates income producing properties, such as a hotel and multifamily properties.

Since 1955, Forestar has been selling quality land in Georgia, Texas and across the Southeast. This segment owns, directly or through ventures, approximately 113,000-acres of real estate located in 10 states and 13 markets in the United States; has 11 real estate projects currently representing approximately 24,000-acres in the entitlement process, as well as 75 entitled, developed, or under development projects in 10 states and 13 markets encompassing approximately 12,000-acres. This is the company’s first entry into Arizona that we could find through a public record search.

Boulder Bridge Pass II is at the northwest corner of Dove Mountain Boulevard and Boulder Bridge Pass. The 98 lots average 9,288-square-feet and are on about 40.3 acres with open space.

Forestar and Dove Mountain share a commitment to developing communities that provide balanced solutions through social, environmental and economic sustainability. Through a balanced solutions approach, Forestar likes to integrate green spaces and open areas into its communities, integrate water and energy saving features, and strive to conserve the natural beauty of surrounding areas.

Will White and John Carroll with Land Advisors Organization in Tucson handled the transaction for buyer and seller, Cottonwood Properties, Inc. (David Mehl, president) through its affiliates, DM Phase IV Investment, LLC and Dove Mountain Investors, LLC

White told us Forestar must have been attracted to the extraordinary natural beauty of Dove Mountain, where social, environmental and economic sustainability is part of everyday business. “We are excited to have Forestar join Dove Mountain and hope this to be the start of a long-standing, successful relationship for them in Southern Arizona,” White said.

To learn more White and Carroll should be contacted at 520.514.7454 or see RED Comp #2734 for additional information.

Real estate will always be about location, location, location but with land especially, it’s future location, future location, future location. Today, looking at Dove Mountain in Marana it’s not difficult to understand why home building there hasn’t experienced the same slow down as other places.

We sat down with Carson Mehl, President of Dove Mountain Homes and the general contractor of The Ritz-Carlton Residences, who also oversees sales and marketing for Cottonwood Properties at Dove Mountain to ask the question: What has made Dove Mountain the exception rather than the rule for home building over the past 18-months?

Mehl told us that the long-term vision and planning that has gone into Dove Mountain makes it an exceptional community in several ways. “When the Ritz Carton decided to partner with Dove Mountain, it was a sign of confidence that showed the path forward. The Ritz opened in December 2009, just at the start of the economic recession,” Mehl said. “Forbes recently named the Ritz-Carlton at Dove Mountain one of only two Five-Star resorts in Arizona for 2015.”

The resort opening and its economic impact was precisely the right prescription to keep Dove Mountain away from seeing any recession. Currently, there are six active builders: Del Webb, Mattamy, Miramonte, Meritage, Richmond and Toll Brothers are all in various stages of home sales.

Mattamy and Toll Brothers both chose Dove Mountain as their entry into the Tucson market in 2014; Mattamy for 172 platted lots and Toll Brothers for 72 platted lots. In addition there are more homebuilder transactions pending for 2015. “Homebuilders have been attracted to the premium real estate and the “shovel ready” nature of the lots. The success has been building on itself. We expect great things to continue out there for the next several years” said Will White of Land Advisors Organization who has handled the latest round for transactions for both Dove Mountain and the homebuilders.

The Ritz Carlton Residences currently has six homes under construction, ranging in price from $1 – $3 million, however, five of these were sold before completion by buyers from cold winter states, several Canadians, and some Californians, we were told.

Surrounded by saguaros at the foot of the Tortolita Mountains just outside Tucson, Dove Mountain is a luxury camp in the high desert. The sprawling community is a destination in its own right with the Ritz Carlton boasting more than 20 miles of hiking trails, three pools, an idyllic spa featuring eco-friendly and holistic treatments and a Jack Nicklaus signature golf course. With numerous dining options, there’s really no reason to ever leave the property.

But, the Sonoran Desert is the real attraction in this harmonious place where finding every amenity under the sun will soon get even easier. Global retail leader, the Simon Property Group is building destination shopping, the Tucson Premium Outlets, at Twin Peaks & I-10, just down the road.

Families should also be more attracted to area, since the Marana Unified School District received voter approval for a $125 million bond that is to include construction of two new elementary STEM system schools nearby.

Mehl explained to us, “Synergy feeds on itself. While the Ritz and Dove Mountain developed a synergy, homebuilders have added to it. Limited lot supply and continued demand by new home builders, combined with the ongoing challenges and delays in rezoning experienced in Pima County. All add up to more emphasis on shovel ready lots in Dove Mountain.”

That bodes well for 2015 and beyond, as home sales, according to several groups of real estate experts anticipate, are on their way up, especially among existing homeowners looking to move up into a larger or secondary vacation home market, as money shifts back from the stock market to real estate.

“It’s decidedly a perfect storm for builders here,” concluded Mehl.

Will White and John Carroll of Land Advisors Organization in Tucson can be reached at 520.514.7454 for more information on available land at Dove Mountain, or click on map below.

Leading national builder continues with Arizona growth strategy

TUCSON, AZ –  Canadian builder Mattamy Homes’ entrance into the Tucson market is the latest example of the company’s aggressive growth plans in Arizona (Mattamy has a number of active communities and land positions in the Phoenix area), and of its confidence in the future of housing in these markets.

“Tucson has a large and diverse population, supported by a multifaceted economic base,” says Steve Parker, President of Mattamy’s US Group. “As such, we believe that Tucson will nicely complement our other Arizona division in Phoenix, and we are looking forward to building the Mattamy brand and business in this exciting market.”

To lead the company’s newest division, Mattamy welcomes aboard Josh Robinson, who joined the team in early August as President of the Tucson Division. Josh has spent his entire 20-year career with Pulte Homes. Most recently he was the Director of Operations in Tucson, where he has spent the majority of his career. Josh’s homebuilding experience also includes various operational roles in Southern California.

Josh will be responsible for leading all aspects of Mattamy’s business in Tucson. Initially this will include sourcing and analyzing land acquisition opportunities, community and product development, as well as establishing key team members and opening a local office and design center.  Within the last 30 days, Mattamy has closed on property in Dove Mountain in Marana (180 lots, anticipated sales in Q1 2015) and Rancho Vistoso in Oro Valley, (48 acres, representing approximately 300 lots, anticipate sales in Q1 2016) and has additional locations under review.

“We are thrilled to have the opportunity for Josh to guide our newest Division through the exciting start-up phase and beyond,” says Steve Parker. “His knowledge of Tucson and experience in homebuilding make Josh a great fit for our future in the market and will be invaluable as we expand our presence in Tucson as part of a significant growth plan in Arizona.”

Josh states: “I’m looking forward to introducing new high-quality homes and communities into the Tucson market. I’m confident Mattamy has a proven formula for providing desirable communities and a focus on customer satisfaction. I’m honored to lead the effort on their behalf.”

For more information, visit: https://www.mattamyhomes.com/