TUCSON (VAIL), ARIZONA — Lennar Homes bought 160 lots at Rincon Knolls in Vail, Arizona before the end of year for $3,024,125 ($18,900 per lot)

The platted and fully engineered lots were sold by TTLC Rincon Knolls, LLC an affiliate of The True Life Companies-(Aidan Barry, Senior VP) in this Phase 1 of Rincon Knolls. True Life will have an additional 189 lots remaining to sell in the next phase.

Will White with Land Advisors Organization in Tucson handled the transactions with associate, John Carroll.

“Rincon Knolls has been of the most sought-after properties in the Vail area,” said White. “Lennar has proven to be strategic and proactive on its acquisitions in 2017 and this is another great example.”

“The Vail area has had an amazing year in new home sales, homebuilder lot acquisitions, and the construction of a large amount of new retail and commercial to support the residents,” White continued. “This area is experiencing record high demand by the region’s homebuilders due to the natural aesthetics, Vail School District, and the pace and pricing power over the past few years. With shovel ready land in extremely short supply, we expect homebuilders to continue to aggressively pursue land positions in Vail in 2018 and beyond as this area experiences a large amount of current success and future potential.”

For more information, White and Carroll should be reached at 520-514-7454.

MARANA, AZ — LGI Homes recently purchased 99 partially improved SFR lots for $4.33 million ($43,700 per lot) at Farm Field Five in North Marana from Dolphin Partners of Irvine, California. Farm Field Five is a 224 lot subdivision portion of Vanderbilt Farms.

Builders have purchased, optioned or will be under construction for 548-lots in North Marana, representing over $20 million in land acquisition and lot development investment for the area over the past 12 months.

Will White and John Carroll with Land Advisors Organization handled the LGI transaction.

White says, “This kind of land acquisition and development activity in one immediate area is a big eye opener for the market. North Marana has gone from one to six homebuilders in 12 months. With all of the new amenities, the story is getting better all the time. The fuse has been lit and we expect the momentum in this area to keep rolling. I think we will be talking ALOT about north Marana over the next few years.”

KB Home, Lennar, Richmond American, and Meritage are building at Gladden Farms. DR Horton has also started at Fianchetto Farms and LGI now at Farm Field Five.

“It is no secret that Tucson metro area had a much better selling year for new homes in 2016 and has seen a surge in employment announcements with potentially more on the way. We are noticing that the builders have recognized this and are working to position themselves for big things to come! We are now into discussions on the next phases of this area with several homebuilders,” White concluded.

“The North Marana area isn’t pioneering, it was already established.  The Gladden Farms master-planned community has over 1300 existing homes. What we are seeing now is the synergy of new amenities, great family lifestyle, and builders taking advantage of new opportunities. They are making a commitment to this area because of the proven history and the strong future potential.”

White and Carroll also represent the Gladden Farms community.

For additional information, White and Carroll can be reached at 520.514.7454.

To learn more, see RED Comp #4274.

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.