By: Daniel Benson | Belfiore Real Estate Consulting
Shea Homes closed on the former WestStone Communities Vantage Condominium, located at the NWC of 5th Ave. and Chandler Blvd., in Ahwatukee.
The deal included 69 remaining condo lots and closed on Dec. 16 for $3.6 million, amounting to $52,174 per unit, according to a public document.
Grant D. Helgeson, Don McCaul, and Brian Beard of Westland Properties Group represented both the seller and buyer in the transaction.
In the first phase of Vantage, WestStone built two- to three-bed/two-bath/two-car garage condo units ranging from 1,432 to 2,067 square-feet. Officials with Westland said Shea plans to build a similar product but re-engineering is required to bring the units up to current construction code standards.
They also reported Shea’s additional cost associated with site improvement updates and plan engineering at $1 million.