Taylor Morrison closes another North Scottsdale acquisition

Taylor Morrison

By: Daniel Benson; Belfiore Real Estate Consulting

According to public record (click here to view the affidavit), Taylor Morrison closed on 40 pre-plat lots on January 10, 2014 for $6,100,000 ($152,500 per lot / $2,542 per front foot). The lots are located within the Boulders Master Planned Community located at the northeast corner of Scottsdale Road and Westland Drive. Please note the price per front foot calculation is based upon a 70’ wide lot, although lot frontages vary due to irregular lot configurations.

The site currently has a final recorded plat for 38 – 70’x107’ lots plus a small commercial component. Taylor Morrison is working on the preliminary plat to re-plat the site in a manner which preserves the existing general site layout but drops the commercial component (click here to view the pre-plat application). By removing the commercial piece, Taylor Morrison was able to increase the lot count to 40 lots. According to both the seller and Taylor Morrison, the builder is paying for all costs associated with re-platting the site. According to Taylor Morrison, the builder hopes to start site development by late summer/early fall 2014.

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