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Daniel Benson; Belfiore Real Estate Consulting
After recently closing on 112 partially improved lots at Dorada Estates (on the border of Gilbert and Queen Creek), Toll Brothers has another deal in the works. Toll is currently taking a 57 acre site through the Gilbert entitlement process. The site is located north of Riggs Rd and Adora Blvd (directly north of Taylor Morrison’s Adora Trails MPC). Toll recently took a pre-plat for the site, Calliandra Estates, to the Gilbert DRB. Pre-plat drawings show the site will include 112 – 90’x125’ lots.
The site has an interesting history. The site was previously owned by the Flood Control District of Maricopa County. The government entity recently sold the land to Riggs 57 LLC (an entity controlled by local developers Brian Burch and Bill Milne). Riggs 57 acquired the site on 1/16/2013 for $3,500,000 ($59,524 per acre). Toll Brothers has since been named as the owner/applicant on all entitlement documents but has yet to close on the site.
