Meritage Homes enters Belfiore Real Estate Consulting’s North Phoenix Submarket

By: Daniel Benson; Belfiore Real Estate Consulting

According to Michael IlesCremieux, Regional Vice President of Land Acquisition for Meritage Homes, Meritage closed its 10^th deal of 2013 on Monday, November 25. Meritage purchased 255 platted and engineered lots within the Stoneledge at North Canyon subdivision. The lots are a mix of (102) 50’x115’ & (153) 60’x120’ lots. The deal closed for $13,830,007 ($54,235 per P&E lot). Meritage projects a finished lot cost of $1,600 per front foot.

The subdivision is located near 27^th Ave & North Valley Parkway in Belfiore Real Estate Consulting’s North Phoenix submarket. As previously noted in Rose Law Group Reporter’s article in July of 2013, Meritage along with Ashton Woods Homes, Pulte Homes, Taylor Morrison and Homes by Towne, all have projects that are either currently active, in planning or are under development in the near vicinity of this hot market. Rose Law Group land use attorney, Jordan Rose, says, “As Thanksgiving approaches our industry can be very thankful that at long last there are so many stories of homebuilders closing deals!”

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November 27, 2013

family planning, Housing, real estate

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