by Melissa Johnson | Rose Law Group Reporter
Keystone Homes has received approval from the Carefree Town Council for a 39-lot, single-family residential subdivision called Eastwood. The project is located on approximately 10 acres near the southwest corner of Pima Road and Cave Creek.
The approval included requests for minor General Plan amendments, rezoning and preliminary plat comprising lots and private tracts for gated streets, landscaping, open space, drainage, and utilities.
Keystone asked for a continuance at the November council hearing after receiving opposition at the October Planning and Zoning Commission meeting. Concerns expressed by Carefree residents and the SkyRanch at Carefree HOA included traffic and character changes.
Keystone worked with the HOA to address the concerns and presented revised development plans at the December council meeting. Modifications included increasing the depth of frontage along Cave Creek Road to 32-28 feet; enhancing the landscape along Cave Creek Road, and restricting rental property lengths to no less than three months.
The HOA has since withdrawn its letter of opposition adding it is “particularly pleased with the spirit and interest in Carefree which Keystone evidenced.”
In the project description submitted to council, Keystone writes its designs, “represent the latest innovations in the homebuilding industry.” The Eastwood architecture would be composed of ranch style and native Arizona desert style homes. Vice President and General Manager for Keystone Homes Jeff King told Rose Law Group reporter, “Keystone Homes is thrilled to get started on our second community in the charming town of Carefree. We absolutely love building homes for our customers in the far north valley. Our buyers appreciate the amazing scenery, amenities and easy living lifestyle of the area.”
Housing product will include 4 plans, ranging in size from approximately 1,800 to 2,200 square feet and will comprise only single -level plans. Prices are expected to start at the low to mid $400,000s and go up to about $500,000. Construction is expected to begin in 2016.
Belfiore Real Estate Consulting data show Keystone is also active in the Carefree/Cave Creek submarket with its 24-lot Almarte community located near downtown with similar size and price ranges as Eastwood. Toll Brothers is the only other active builder with its Reserve at Tranquil Trail community that boasts an average 35,000 square foot lot starting in the low $600,000s. President of Belfiore Real Estate Consulting Jim Belfiore added, “Demand within Carefree/Cave Creek has grown tremendously over the last 36 months, and with it, the number of new home purchasing opportunities has, as well. Keystone has been active for the last four years, now offering new product within its second community since the Great Recession and housing debacle ended.”
