By: Daniel Benson; Belfiore Real Estate Consulting
According to public record (click here to view the affidavit), AV Homes closed on an approximate 19.76 acre site that has an approved final plat from the City of Peoria. The subdivision, Stonebridge Ranch, is located just west of the southwest corner of Jomax Road & Lake Pleasant Parkway. The seller, Courtland Homes, received final plat approval from the Peoria City Council at its 7/1/2014 meeting. The deal included 53 – 70’ x 120’ P&E lots and closed on 9/2/2014 for $3,525,500 ($66,500 per lot / $950 per FF / $178,365 per acre).
According to public record (click here to view the affidavit), Courtland originally closed on this site on 1/6/2014 for $2,700,000 ($50,943 per lot / $728 per FF / $136,639 per acre). At the time of Courtland’s original closing, Courtland had received preliminary plat approval from the City.
