By: Daniel Benson; Belfiore Real Estate Consulting
Garrett-Walker Homes continues to be an active buyer of infill residential land. According to public record (click here to view the affidavit), the builder closed on 25 – 45’x145’ preliminary platted lots within the Paradise 21 South subdivision. The deal closed on November 10, 2014 for $950,000 ($38,000 per lot / $844 per front foot). The subdivision is specifically located south of the southeast corner of Bell Road and 21st Street in Phoenix. Garret-Walker received preliminary plat approval for the subdivision back on August 6, 2014.
Garret-Walker also has another site in escrow just north of Paradise 21 South that the builder is currently taking through the entitlement process. The subdivision is called Paradise 21 North and is being platted as 10 – 59’-138’ single-family lots.
Both sites likely will serve as replacement lots to Garret-Walker’s active community, The Ridge, located near Bell Road and 19th Avenue. At The Ridge, Garret-Walker is currently offering 35’ wide single-family detached homes ranging in size from 1,355 – 2,674 square feet and ranging in base price from $179,990 – $220,990. As of Belfiore’s latest survey on October 23, 2014, the builder sold three homes since opening for sales back on August 15, 2014.
