By: Daniel Benson; Belfiore Real Estate Consulting
Maracay Homes will soon have four diversified product lines within one mile of the intersection of Ocotillo and Gilbert Roads in South Chandler. According to public record (click here to view the affidavit), JEN Partners/TerraWest Communities closed on an approximate 15 acre site at the north west corner of Ocotillo and Gilbert Roads. The site received preliminary plat approval by the Chandler City Council at its October 24, 2013 meeting (click here to view the plat submittal). Submittal documents show Maracay Homes will be the vertical builder. The site is being branded as La Esquina and is planned for 79 – z lot configuration lots. Typical lot sizes alter from 42’x95’ to 52’x95’. The deal closed March 12, 2014 for $3,650,000 ($46,203 per lot / $983 per front foot).
Maracay is currently active just west of the north west corner of Ocotillo and Gilbert Roads at its Artesian Ranch subdivision, which is a 65 front foot community. Maracay is also currently active just east of the south east corner of Lindsay and Ocotillo Roads at its Vaquero Ranch subdivision, which is a 60 front foot community. As reported in the Dealmaker last week, Maracay also recently closed on 47 – 90’x140’ lots within the Layton Lakes Master Planned Community which is north and east of the north east corner of Gilbert and Ocotillo Roads.
