April 20, 2024 8:55 am
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Homes by Towne Closes on Cave Creek Area Condo Site

Homes-by-TowneBy: Daniel Benson; Belfiore Real Estate Consulting

According to public record, Homes by Towne closed on an approximately 20 acre site at the northeast corner of Rancho Paloma Drive and Cave Creek Road. The site is planned for 150 condo units. The deal closed 1/3/2014 for $5,850,000 ($39,000 per unit). Homes by Towne received preliminary plat approval for the development on 10/4/2013 from the City of Phoenix.

According to entitlement submittals, the site is planned for 30 – two story – 5 unit buildings with a total of 150 units. The development includes 270 resident parking spaces & 75 guest spaces (28 stalls & 47 on street spaces). Proposed product includes 4 different floor plans ranging in size from 1,366 – 1,817 SF.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.