TUCSON, Arizona — Richmond American Homes, a subsidiary of M.D.C. Holdings, Inc. (NYSE: MDC) purchased 41-platted and engineered lots at Mountain Vail Estates in southeast Tucson for $1.25 million ($30,482 per lot). Richmond has been open and selling homes here since March, after closing on the first 50-lots. This was phase two of the option agreement.

The seller had re-platted the lots and were reported to be about 80 percent 50’x 115’ and 10-15 percent 60’ wide lots in Mountain Vail Estates, a 155-acre community in southeast Tucson with a 7.5-acre park and Esmond Station K-8 school in the award-winning Vail School District, that opened in 2014. Richmond has two models it is offering here.

Richmond has been staying proactive in the Tucson market and now represents about 37% of the total lots sold to homebuilders during the first half 2017.

In a separate transaction, Richmond bought an additional 76 P&E lots also in Mountain Vail Estates for $2.74 million ($36,000 per lot).

Rick Morris, Richmond American Director of Land Acquisition in Tucson, told us the 21-lot subdivision off Chevrolet Ave., located near the school, sold with a 55 P&E lot subdivision south of Old Vail Connection Road and Chevrolet Avenue. The 21-lots were re-platted by the seller and the 55-lots are a newly platted subdivision. This latest expansion to Mountain Vail Estates has 60’ x 120’ lots on average and is expected to open Q1 2018.

Since 1977, MDC’s homebuilding subsidiary companies, which operate under the name Richmond American Homes, have built and financed the American dream for more than 190,000 homebuyers. MDC’s commitment to customer satisfaction, quality and value is reflected in the homes its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Northern Colorado,  Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Diego, Orange County, San Francisco Bay Area, Sacramento, Washington D.C., Baltimore, Northern Virginia, Orlando, Jacksonville, South Florida and Seattle. MDC’s subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol “MDC.” For more information, visit MDCHoldings.com.

To learn more, see RED Comps #4965 and #4966.

Richmond American (Rick Morris, Land Acquisition) purchased 50 platted and engineered lots at Mountain Vail Estates for $1.501 million ($30,000 per lot). This is the first half of approximately 94 lots being re-platted by the seller, MC 140 LLC, an affiliate of Diamond Ventures.

Buyer will develop the lots for construction. This is not Richmond’s first acquisition in this southeast subdivision with 501-lots in the Houghton Corridor.

Lot sizes were reported to be about 80 percent 50’x115’ and 10-15 percent 60’ wide lots.

To learn more, see RED Comp #3968.

Richmond American also purchased 34 platted lots at Linda Vista Heights for $884,000 ($26,000 per lot) in this northwest submarket of Tucson for development. Lots are 50’x110’ and 50’x 120’.

Charlie Bowles of Bowles Realty & Investments in Tucson handled the transaction for the seller.

To learn more, see RED Comp #3956.

At Eagle Point Estates, in the western submarket of Tucson, DR Horton purchased 8-SFR lots for $318,000 ($39,750 per lot). This was a part of a rolling option agreement for 83-lots at Eagle Point Estates. The seller, Tierra Valencia of Tucson is an affiliate of the Estes Companies (Bill Estes III, manager).

DR Horton began construction at Eagle Point Estates back in January 2015 and are over half-way to completion, with 42-lots remaining

Dan Feig and Aaron Mendenhall of Chapman Lindsey represented DR Horton in the transaction.

To learn more, see RED Comp #3959.

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KB Home purchased 107 platted and engineered lots at Mountain Vail Estates for[mepr-show rules=”58038″]$2.354 million ($22,000 per lot). KB is joining Richmond American and Lennar Homes at this southeast subdivision with 501 lots in the Houghton Corridor.

KB Home offers product to first-time homebuyers or those looking to move up. From a wide selection of ranch and 2-story homes in Vail. With small town charm and just a short drive to shopping, dining, recreation, major employers and downtown, plus ENERGY STAR® qualified.

Thrac Paulette with Vast Real Estate Solutions in Tucson handled the transaction and represented the seller, MC 140, LLC an affiliate of Diamond Ventures.

Paulette can be reached at (520) 624-9400. For more information on KB Home, contact (888) 509-6651.[/mepr-show]