Maracay Homes buys 142 acres in West Valley for $31M

By Mike Sunnucks | Phoenix Business Journal

Maracay Homes has closed on a $31 million, 142-acre purchase in Peoria.

Maracay previously bought 173 home sites for $17 million at the same Peoria development called the Meadows. The residential development is at Deer Valley Road and 91st Avenue.

Maracay plans to build 299 homes on the 142-acre parcel and recently broke ground the previously acquired parcels.

Camino A Lago LLC — an arm of Scottsdale-based Communities Southwest Management Inc. — sold the land to Maracay, which is an arm of Irvine, California-based Tri Pointe Group (NYSE: TPH)

Homes will range between 2,500 and 4,500 square feet and be priced in the $400,000s, according to Maracay.

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July 25, 2016

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Maracay Homes buys 142 acres in West Valley for $31M

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