By: Daniel Benson; Belfiore Real Estate Consulting
Pulte Homes will look to continue its success at Tierra Del Rio, now in the southern portion of the masterplanned community south of Happy Valley Road. According to public record (click here to view the affidavit), Pulte Homes closed on an additional 102 -50’x115’ partially improved lots within Parcel 4A of Tierra Del Rio. The deal closed July 29, 2014 for $5,563,219 ($54,541 per lot / $1,091 per front foot). Pulte’s cash payment at close of escrow was $4,462,500; the remaining balance of $1,100,719 ($10,791 per lot) will be paid to the seller as deferred consideration due upon each retail home closing. According to Patrick Brown (Manager of Land Acquisition for Pulte Homes), the site has been mass graded and water/sewer have been stubbed to the site.
