TUCSON, Arizona – SBH La Estancia, an affiliate of Sunbelt Holdings, the developer of La Estancia has sold 350 lots in 2017 with Meritage, Richmond and now Lennar Homes there. La Estancia has sold more lots than any master planned community in metro Tucson, making it the best performing community for lot sales this year.

Most recently, Lennar closed on 112-lots for $6.16 million, or $55,000 per finished lot and $1,100 per front foot.

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

“La Estancia has been successful from the day it opened. It hits all the marks for homebuilders from location, proximity to major employment and Vail School district. In addition, the community has seen strong sales and price appreciation over the past 18 months. Success builds on success. With all of the new acquisitions in the project this year and all the new construction, we expect La Estancia to have plenty of room to run in 2018 and 2019.”

Senior Vice President at Sunbelt Holdings, Bob Bambauer who oversees the La Estancia project told us that due to the increased demand for the 50-wides, they intend to replat the 65-foot wides to 45-foot wide lots.

“With the recent lots sales and the replatting of the larger lots, we are now focused on planning the southern half of the site,” said Bambauer. “We will have a variety of lot sizes ready for development throughout 2018 and beyond.”

La Estancia, a 556-acre master planned community, offers master-planned living in this prime southeast submarket. Centrally located just off of I-10 and Wilmot Road and nearby some of Tucson’s most prominent employment centers including Raytheon Missile Systems, Davis Monthan Air Force Base, U of A Tech Park and the Tucson International Airport. Residents benefit from community amenities including a sparkling pool, splash pad, shaded ramadas and play equipment, ready for use.  Future plans include sports fields and more.

TUCSON, ARIZONA – Meritage Homes acquired 142 SFR lots at La Estancia having almost completed its first phase of 195 lots in this new master planned community since opening in June 2016.

The seller, SBH La Estancia, an affiliate of Sunbelt Holdings, sold the lots for $6.25 million, or $44,000 per finished lot and $1,100 per front foot. Meritage homes range from 1,612- to 2,917-square-feet.

La Estancia offers master-planned living in a prime southeast submarket location, just off of I-10 and Wilmot Road, and nearby some of Tucson’s most prominent employment centers including Raytheon Missile Systems, Davis Monthan Air Force Base, U of A Tech Park and the Tucson International Airport. Residents benefit from community amenities including a sparkling pool, splash pad, shaded ramadas and play equipment, ready for use. Future plans include sports fields and more.

Richmond American, continuing its acquisition surge, bought 98 lots at Bridge Pass II in Dove Mountain in Marana for $6.8 million from Forestar (USA) Real Estate Group of Austin, TX. The lots, platted and engineered, are to be finished by Richmond, a new builder at Boulder Bridge Pass.

Richmond lot purchases have been surging,  with 1,267 lots acquired in the Tucson Metro area within the past year.

Boulder Bridge Pass is at the northwest corner of Dove Mountain Boulevard and Boulder Bridge Pass. The 98 lots are on about 44.5 acres with open space and consist of (30) 85’X150’ and (68) 60’X125’

Will White with Land Advisors Organization in Tucson handled both of these transactions with associate, John Carroll.

“The market for land is hot overall and we are seeing continued demand by homebuilders to build in Tucson’s better performing projects,” said White. “The communities on the southeast and northwest parts of Tucson Metro have seen almost 80% of the lot transactions over the past 18-24 months. This is mainly due to the success that is coming out of those regions of Tucson. We see no reason that those areas won’t continue to be the talk of the town”

“The Tucson master-planned communities continue to see a large amount of demand from homebuilders in the past 18-months. Sales, permits, and traffic have been strong from these specific projects and homebuilders are looking to continue to build on that success. We feel that this trend will continue in the communities that have proven to have very good pricing power and pace.” White stated.

For more information, White and Carroll should be reached at 520.514.7454.

To learn more, see RED Comps #5239 and #5258.

Phoenix, Arizona – Economic development leaders around the Valley have been working to create the next wave of economic development for Arizona, focused on leveraging the strengths of our existing economy and building a path to the future. This month, the Valley Partnership Friday Morning Breakfast will bring together Chris Camacho, president and CEO of the Greater Phoenix Economic Council and John Graham, president of Sunbelt Holdings, to discuss how Arizona is working to position itself as a regional and global leader.

Both Chris Camacho and John Graham serve on the board of directors for the Partnership for Economic Innovation (PEI), which Graham chairs. PEI is a passionate collective of community, business and opinion leaders, dedicated to the mission of fulfilling the economic opportunities of Greater Phoenix. The intent of PEI is to present a vision, identify opportunities for action, and guide resources for producing real solutions. The success of PEI is measured by the advancement of our economic presence, beyond being a more competitive region and toward being recognized as a world-class economy.

“The development community works in concert with the business and education communities to build a stronger economy here. This legislative session saw leadership focused on investing in infrastructure and education, two key elements of building a stronger economic base for the long-term future. This month, our program will focus on how these interests are coming together to create a more dynamic climate for high quality employers, those who are here in Arizona and those looking to relocate,” said Cheryl Lombard, president of Valley Partnership.

• What/When: Valley Partnership Friday Morning Breakfast on Friday, June 16 at 7:30am (Program begins)
• Where: Phoenix Country Club, 2901 N. 7th St, Phoenix
• Registration: Members: $50 / Non-Members $75 / Onsite add $10
• Program and moderator:  The New Economy: Building our Future featuring panelists:  Chris Camacho, President and CEO of Greater Phoenix Economic Council; and John Graham, President of Sunbelt Holdings