AZBigMedia
Maracay Homes, a wholly owned company of the TRI Pointe Group (NYSE: TPH), has closed on the purchase of 190 additional homesites in the trending South Mountain submarket of Phoenix, Arizona. The $12.1 million purchase represents the second phase of Maracay Homes master-planned community Avance. It’s unique location on South Mountain offers the convenience of an infill location, six miles to downtown Phoenix, with the natural recreational opportunities afforded by bordering South Mountain Park – the planet’s largest urban park.
Ryan Duncan of Nathan & Associates, Inc., brokered the transaction between Maracay and the seller, Vistal Highlands, LLC-Phase Two, an entity owned by Grayhawk Development in Scottsdale. With the addition of the 190 homesites, Maracay has nearly doubled its presence inside Avance, from 204 homesites as part of the first phase to a total of 394 homesites.
Maracay plans to develop Avance into a meticulously modern, gated community offering four new architectural styles of homes. Each design is deeply influenced by the colors, forms and natural materials of South Mountain’s iconic setting. This master-planned community will feature a full slate of adrenaline-powered amenities, including a state-of-the-art fitness center, pool designed for both laps and leisure, seven neighborhood parks, an interconnected trail system and convenient access to the 51 miles of trails in South Mountain Park.
