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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With the housing rebound comes more builders wanting to build, and finished lots are getting pretty scarce and pushing up lot prices up. Aaron Mendenhall, Land Specialist at Chapman Lindsey in Tucson, tracks the SFR lot inventory. Mendenhall told us, “The finished lot inventory in the Tangerine Corridor (Oro Valley / Dove Mountain areas) is completely tied up by builders. There is still some finished lot inventory available in the northwest Marana area, around Gladden Farms, has approximately 300-lots left.”

As reported last month, Richmond American Homes of Arizona (James Gaulin, Director of Land Acquisition) acquired 36-SFR lots at Gladden Farms in Block 17 for[mepr-show rules=”58038″]$1.3 million ($36,500 per lot) in Marana, at “The Arbors at Gladden Farms”.

This month, Richmond American acquired an additional 57 finished lots at San Lucas Block 4 in Marana for $1.94 million ($34,000 per lot). Willow Bridge of Tucson (Greg Anderson) was the seller of the R-8 zoned lots with 8,000-square-foot minimum size, or 70-foot wide lots.

The Northwest master-planned community of San Lucas has a beautiful mountain backdrop near San Lucas Park, with dog park, sport courts, playgrounds and trails. Richmond has been at “The Palisades at San Lucas” with six floor plans and 3-car garage models since it opened.

With 15-20 lots remaining at The Palisades at San Lucas, Gaulin did not anticipate a start to building in the new subdivision, that doesn’t have a name yet, until November.

Dan Feig and Aaron Mendenhall with Chapman Lindsey of Tucson handled both of these transactions.

There are two blocks remaining (7&8) in San Lucas with a total of 154-platted lots that are currently under negotiation with a builder. DR Horton owns 60 platted lots in Block 12, with no near future plans to improve these lots.

According to Mendenhall, “Many builders are currently pursuing unentitled land in the Tangerine Corridor. The entitlement/platting process can take 1-2 years however, so we won’t see many of these lots finished until 2015. There are several platted lot deals currently under negotiation in the Northwest submarket. Other submarkets are also seeing an increased interest in platted lot communities as there is an extreme shortage of finished lots throughout Tucson.”

Richmond American is a wholly owned subsidiary of M.D.C. Holdings, Inc., (NYSE:MDC) a Delaware Corporation based in Colorado since 1972. Richmond American ranked 11 in the top 100 homebuilders for 2012, with 3,740 closing for the year.

For more information on Richmond American Communities, contact (520) 544-2700. Feig and Mendenhall should be contacted at (520) 747-4000.[/mepr-show]

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[ismember]Sale date: 9/4/2013. All cash transaction.  [/ismember]

James Gaulin has joined Richmond American Homes in Tucson as Director of Land Acquisition and Development. Gaulin replaces Michael Del Castillo who was promoted to Richmond American’s Seattle office, where Del Castillo grew up and still has family.

Gaulin is well-known and respected in the industry and came to Richmond American’s Tucson branch from Denver, where he was working with Lennar Homes in land development.

Gaulin’s extensive experience in land acquisition and planning began with Meritage Homes in Tucson and continued at Forest City Land Group from 2006-2012. During that time he managed all aspects of acquisition, entitlement, planning, development and construction for several master-planned communities in Arizona and Washington.

Prior to that, Gaulin was with Rick Engineering in Tucson where he worked as a Civil Engineering Designer, assisting subdivision and commercial planners with architectural designs, working closely with municipal and utility employees to ensure project success.

Gaulin says he’s very happy to be back in Tucson and could not resist the call to return when it came to him in Denver.

Richmond American is a wholly-owned subsidiary of M.D.C. Holdings, Inc., (NYSE:MDC) a Delaware Corporation based in Colorado since 1972. Richmond plans to maintain its market share in Pima County and ranked 11th in the top 100 Southwestern and National homebuilders for 25012, with 3,740 closings for the year.

Gaulin is at the Richmond American administrative office at 3091 West Ina Road, Tucson, AZ 85741 and can be reached at (520) 544-2700.