Rancho Sahuarita – Making New Home Building Great Again

(courtesy photo)

SAHUARITA, ARIZONA – Richmond American Homes recently bought 71 finished lots at Entrada La Villita, the newest community in Rancho Sahuarita Master-Planned Community, for $3.266 million ($46,000 per lot) from Rancho Sahuarita VIII, an affiliate of Sharpe & Associates (Robert Sharpe, president).

Ted Herman with Sharpe & Associates, who represented the seller in the transaction told us the decision to finish these 40’x 90’ lots in this new subdivision began about one year ago.

“We were waiting for retail to catch up with price point appreciation,” Herman said. “That seems to be happening now, and the outlook for new home builders looks great again. Rancho Sahuarita is also finishing another 165-lots which are already in escrow with two homebuilders.”  Entrada Del Rio has the potential for 560-lots to be finished, planned in six-phases.

Richmond’s long relationship with Rancho Sahuarita began in 2001 with the Presidio Del Sol neighborhood, before moving north into Presidio San Xavier, Presidio Coronado and Presidio Del Norte, which closed out last year.

“We’re delighted to be building in Rancho Sahuarita again,” said Michael J. Del Castillo, President of the Tucson Division of Richmond American Homes of Arizona, Inc. “In addition to all the wonderful amenities the community boasts, Entrada La Villita will feature four different two-story floorplans designed with homebuyers’ needs in mind.”

Rancho Sahuarita is located in the town of Sahuarita, Arizona, just 20 minutes south of downtown Tucson. Entrada La Villita is located southwest of the Rancho Sahuarita Clubhouse, near the intersection of La Villita Road and Sahuarita Road.

Other homebuilders currently active at Rancho Sahuarita include Insight Homes, D.R. Horton, KB Homes which will be closing out soon at Entrada Del Rio and now the return of Richmond American Homes.

For more information, Herman should be reached at 520.299.8766. To get updates about Entrada La Villita and to sign up for the neighborhood interest list, please visit www.RanchoSahuarita.com/LaVillita.

To learn more, see RED Comp #5396.

 

 




Final 21 P&E Lots at La Canada Ridge in Oro Valley Sell for $2.3 Million

ORO VALLEY, ARIZONA — Insight Homes of Tucson (Mike Jones, manager) purchased the final 21-SFR lots at La Canada Ridge for $2.3 million ($107,391 per lot). The lots were platted and engineered and buyer exercised an option that began in 2015 from Sharpe & Associates of Tucson (Bob Sharpe, manager).

Insight Homes is a custom home builder in Tucson, Oro Valley, Marana and Dove Mountain. La Canada Ridge is a 33-SFR development, located southwest of Moore Road and La Canada.

Currently there are two semi-custom models under construction here. Insight purchased the first 12 lots at La Canada Ridge in January 2015.

Ted Herman with Sharpe & Associates represented the seller and Ben Becker and Adam Becker with CBRE in Tucson represented the homebuilder.

For more information, Herman can be reached at 520.299.8766 and Ben Becker is at 520.323.5149. Adam Becker can be contacted at 520.323.5188.

To learn more, see RED Comp #5142.

 

[mepr-show rules=”58038″]Sale price: $2,255,220. Sold on 8/23/2017 document #2017-2350618. Lots 1 thru 21 & Common areas A, B, C and Parcel “A” of La Canada Ridge bk 64 pg 12[/mepr-show]

 




Several Residential Developments Reach Final Takedown Phase This Month

TUCSON,  Arizona —  The Metro Tucson Housing Market continues to show signs of possibly its best year since 2008.  As home builders exercise options earlier than scheduled to keep up with demand in Northwest Tucson and get creative with infill projects at the same time.

Pulte Home Company exercised its final option for 119 lots at Tangerine Ridge recently for $4.12 million ($34,615 per platted lot). Pulte purchased the first 78-homesites of 197 SFR lots at Tangerine Ridge, located east of Twin Peaks on Tangerine Road, for $2.88 million ($36,933 per platted lot) from Tangerine Estate Joint Venture (Robert Sharpe, manager).

Pulte will be responsible for finishing the infrastructure and purchased paper lots with entitlements only, along with an option for the remaining 119 lots at Tangerine Ridge in June 2016.

Ted Herman with Sharpe & Associates handled the transaction.

“Lot sizes are 50’ and 65’ wide x 120’ at Tangerine Ridge, with average lot sizes of 7,460-square-feet,” said Herman. “The road improvement costs from Tangerine Ridge connecting to Twin Peaks is to be split with the Town of Marana per entitlements and specific plan. This will be a great new community and ease the demand for mid-range priced homes in the Northwest.”

Pulte Homes also took down the final option for 109 platted lots in Del Webb Active Community at Dove Moutain for $4.86 million ($44,569 per platted lot). In February 2013, Pulte Home Corporation (NYSE:PHM) announced its plans to build approximately 650 homes on 208 acres for the Del Webb at Dove Mountain Active Community in Marana.

This is the final phase of an option agreement with Cottonwood Properties, Inc. and DM Phase IV Investments, LLC (David Mehl, CEO) that was scheduled for January 2018 being acquired earlier.

Del Webb Corporation was acquired by Pulte Home in 2001 and is a leading builder in active adult communities. The Del Webb at Dove Mountain Community will be located southwest of the Ritz Carlton Resort off Dove Mountain Blvd and will reportedly have a mixture of 40′, 50′ and 60′ wide lots.

D.R. Horton took down an option at Fianchetto Farms in northern Marana near Gladden Farms’ Community, D.R. Horton bought 12 finished lots for $471,000 ($39,250 per lot) from Fianchetto Farms, LLC. This was the sixth and final takedown of a 49-lot option within this 114-SFR lot subdivision and the fourth for this year, finishing earlier than expected.

D.R. Horton began construction here in August 2016. Lots are mostly 55′ x 110′ and has a second phase option for another 60 lots totaling 109 lots here.

 Dan Feig with Chapman Lindsey Commercial Real Estate Services handled the transaction.

KB Home Tucson purchased 7.15 acres at Oracle Jayne Station and La Cholla in Northwest Tucson for a 35-lot infill project. The land was rezoned to CR-5 and sold for $686,400 ($19,644 per platted lot).

Thrac Paulette of Cantera Real Estate represented Markland Investments and David Huebner of Tucson, the sellers. The seller has a 3.2 acre parcel remaining from this site zoned for medical use.

Homes are planned to be on 35’ x 100′ lots and be of two-story construction here.

For more information, Herman can be reached at 520.299.8766, Feig should be contacted at 520.747.4000 and Paulette is at 520.904.5055.

To learn more, see RED Comp #5012 #5040, #5035 and #5028