Mesa – AV Homes of Arizona LLC in Scottsdale (Carl Mulac, pres.) plans to build 345 single-family residences within the former General Motors Proving Grounds located east of Williams Gateway Airport in Mesa. The builder paid $16.91+ million to buy a 105-acre tract at the northeast corner of Signal Butte and Williams Field Road. The seller was PPGN-Signal LLLP, a venture formed by Harvard Investments Inc. in Scottsdale (Paul Hill, Craig Krumwiede, Chris Cacheris, principals). The cash sale was brokered by Nate Nathan and Courtney Buck of Nathan & Associates Inc. in Scottsdale. AV Homes intends to construct two neighborhoods on lots averaging 6,250 sq. ft. (50×125) and 7,500 sq. ft. (60×125). The three-, four- and five-bedroom units are expected to range from about 1,600 sq. ft. to 3,900 sq. ft. Pricing to start in the low $200,000’s. Models slated to open first quarter 2015. Roughly 25 acres of the land is dedicated open space and will be used for parks, playgrounds and common areas. Continue reading
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