ORO VALLEY, Arizona — Lennar Homes purchased 58.6-acres with 106-platted lots at Overton Reserve in Oro Valley from an affiliate of Tucson Land and Cattle Co., TLC Jackson, LLC of Tucson (Jim Campbell, manager) for $5.83 million ($55,000 per platted lot).
Located at Overton and La Canada Drive in Oro Valley, the seller had assembled the property in December 2016 and needed to buy, barter and trade several properties for easement and right-a-way access with Desert Springs Evangelical Presbyterian Church to achieve connecting parcels to the property.
The plan is to develop 106 lots in two parts: the Northern 39-acres with 83 lots and a 2.1 RAC, and the Southern 19.6-acres with 23 lots and 1.2 RAC all part of the same Overton Reserve.
The seller completed final plat approval for Lennar to record. Lot sizes are 66×120, 76×120, and 81x 120. Lennar plans to build homes in the 2,200-3,200-square-foot range and Overton Reserve to have homes ready by Q2 2018.
Lennar is building homes in some of the most desirable areas of Tucson: Signatures at Tortolita Reserve in Marana, Discovery at Mountain Vail, Star Valley, Rob Hill Estates in Tucson and also in Oro Valley, Eagle Summit at Vistoso.
Ben and Adam Becker of CBRE Tucson represented the seller in this transaction.
The Becker Team can be reached at 520.323.5100, for additional information.
To learn more, see RED Comp #4763.
MARANA, Arizona — The historic Lazy K Bar Guest Ranch is now slated to become a 178-home subdivision, after the Marana Town Council approved the rezoning of a 103 acre portion the Lazy K Bar Ranch property Tuesday. The council approved the plan 4-2, with some caveats, including added protection of the open space to ensure that no further development is done on the property.
The meeting included 49 speakers, with 40 speaking in opposition to the plan. Of the nine who spoke in favor of the plan, just one identified themselves as a Marana resident, while several others were either Marana area business owners or owned property within the town. The biggest complaint about the proposal was its proximity to Saguaro National Park and Sanctuary Cove. That area is a major wildlife corridor and the fear is the housing will disrupt animal migration. Lot size was another concern. Currently all of the adjacent properties sit on big lots, with many having three acres of property.
With 60% open space, the new design would average 1.29 RAC, with smaller lots because the design calls for the homes to be clustered to preserve large uninterrupted open spaces.
Linda Morales of the Planning Center in Tucson, who represents the landowners, and Greg Wexler of Wexler and Associates, the developer, said the move to smaller lots was made to provide more open space. Morales said larger, spread out lots, would actually make things more confusing for animals traveling through the area.
The developer is committed to retaining some component of the original Lazy K Bar Lodge and patio in order to recall the history of Lazy K.
Although the rezoning and specific plan were approved, the landowner does not have a builder and there is not timeframe to begin developing the land.