ORO VALLEY, Arizona — Lennar Homes purchased 58.6-acres with 106-platted lots at Overton Reserve in Oro Valley from an affiliate of Tucson Land and Cattle Co., TLC Jackson, LLC of Tucson (Jim Campbell, manager) for $5.83 million ($55,000 per platted lot).

Located at Overton and La Canada Drive in Oro Valley, the seller had assembled the property in December 2016 and needed to buy, barter and trade several properties for easement and right-a-way access with Desert Springs Evangelical Presbyterian Church to achieve connecting parcels to the property.

The plan is to develop 106 lots in two parts: the Northern 39-acres with 83 lots and a 2.1 RAC, and the Southern 19.6-acres with 23 lots and 1.2 RAC all part of the same Overton Reserve.

The seller completed final plat approval for Lennar to record.  Lot sizes are 66×120, 76×120, and 81x 120. Lennar plans to build homes in the 2,200-3,200-square-foot range and Overton Reserve to have homes ready by Q2 2018.

Lennar is building homes in some of the most desirable areas of Tucson: Signatures at Tortolita Reserve in Marana, Discovery at Mountain Vail, Star Valley, Rob Hill Estates in Tucson and also in Oro Valley, Eagle Summit at Vistoso.

Ben and Adam Becker of CBRE Tucson represented the seller in this transaction.

The Becker Team can be reached at 520.323.5100, for additional information.

To learn more, see RED Comp #4763.

MARANA, Arizona — The historic Lazy K Bar Guest Ranch is now slated to become a 178-home subdivision, after the Marana Town Council approved the rezoning of a 103 acre portion the Lazy K Bar Ranch property Tuesday. The council approved the plan 4-2, with some caveats, including added protection of the open space to ensure that no further development is done on the property.

The meeting included 49 speakers, with 40 speaking in opposition to the plan. Of the nine who spoke in favor of the plan, just one identified themselves as a Marana resident, while several others were either Marana area business owners or owned property within the town. The biggest complaint about the proposal was its proximity to Saguaro National Park and Sanctuary Cove. That area is a major wildlife corridor and the fear is the housing will disrupt animal migration. Lot size was another concern. Currently all of the adjacent properties sit on big lots, with many having three acres of property.

With 60% open space, the new design would average 1.29 RAC, with smaller lots because the design calls for the homes to be clustered to preserve large uninterrupted open spaces.

Linda Morales of the Planning Center in Tucson, who represents the landowners, and Greg Wexler of Wexler and Associates, the developer, said the move to smaller lots was made to provide more open space. Morales said larger, spread out lots, would actually make things more confusing for animals traveling through the area.

The developer is committed to retaining some component of the original Lazy K Bar Lodge and patio in order to recall the history of Lazy K.

Although the rezoning and specific plan were approved, the landowner does not have a builder and there is not timeframe to begin developing the land.

The Sanctuary at Silverhawke by Meritage Homes

Meritage Homes of Arizona (Jeff Grobstein, President Desert Region) purchased approximately 150 acres for $2,526,480 ($57,420 per lot) for a new, gated community in Oro Valley. Located within one of Tucson’s most prestigious areas, Sanctuary at Silverhawke will feature 44 new, energy-efficient homes on large homesites, coming in 2017.

The new community is located southeast of Palisades and First Avenue in Oro Valley and will be a cluster project with development around a floodplain and Environmentally Sensitive Land (ESL) requirements for the property.

Meritage hopes to break ground in December on this new gated community with plans to build 3,000-4,000 square-feet semi-custom homes for sale by July 2017.

Greg Wexler with Wexler & Associates represented the seller, Capri Company LLC (Herb Kai, manager).

For additional information, Wexler can be reached at 520.744.8500.

To learn more, see Red Comp #4149.

Replat of The Retreats at Vistoso Condominiums by Mattamy Homes

The Retreats at Vistoso Condominiums, platted for 124 condominiums, was purchased by Mattamy Tucson (Jimmy Gaulin, Land Acquisitions) for $1.075 million to replat for 42 homesites ($25,595 per lot). The approximately 14-acres is located at the southeast corner of Moore Road and Rancho Vistoso Blvd in Oro Valley.

Mattamy plans it will take 14-months to replat before ground breaking and another a year after that before selling in this new subdivision that hasn’t been named yet.

Mike Carlier and Jim Vincent with the Carlier Company in Tucson represented the seller, Keith G3 of Tempe, AZ (Charles Keith, manager).

For more information, Carlier and Vincent can be reached at 520.548.0216.

To learn more, see RED Comp #4108.

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.