Inside Tucson Business
A couple of land acquisitions indicate home developers may be getting ready for an uptick in activity in the Tucson region.
Lennar Homes, a subsidiary of Lennar Corp., Miami, Fla., has acquired 108 finished residential lots in Star Valley, a master planned community south of Valencia Road near Camino Verde and Los Reales Road on the southwest side. The purchase price was $28,000 per lot, which works out to just over $3.02 million total. The seller was Miamonte Holdings, Miramonte Homes and Borderland Star Valley of Tucson, who were represented by Will White, Land Advisors.
Richmond American Homes of Arizona has acquired another 125 residential lots Eagle Crest V, a master planned community in Pinal County off Oracle Road about six miles north of Tangerine Road. The lots, 33 of which are finished and the remaining 92 platted, sold for $14,840 per lot for a total of $1.86 million. The lots were sold by CRVI H-AZCO LLC, an affiliate of Cypress Real Estate Advisors, Austin, Texas.
