By Philip Haldiman, Editor-in-Chief | Dealmaker
Ryland Homes has closed on a ready-to-be-built housing community with 46 platted and engineered lots in a gated hillside community in south Phoenix.
The Legacy Mountain Villas community, located on the southeast corner of 42nd Place and Baseline at South Mountain Regional Park, was sold for $2.15 million, or $46,690 per lot and $667 per platted and engineered foot.
Lot sizes are 70 feet by 120 feet minimum, including some with hillside and over-size custom lots. Ryland will begin developing the lots this month with models slated for the fourth quarter of this year.
Ryland Homes (Reed Porter, division president) bought the property from Crescent Bay Holdings (Gregg Wolin, Geoff Beer and Emily Leppert, principals).
Pacific Land Company (Howard Weinstein, Derek Harris, Patty Lafferty) brokered the deal.