Toll Brothers buys 200 acres in southeast Valley for ‘entry-level’ luxury homes

Homes being sold at Toll Brothers’ Meridian community in Queen Creek will be similar to the ones the company nearby at The Preserve at San Tan in Pinal County. / Toll Brothers / Phoenix Business Journal

By Angela Gonzales | Phoenix Business Journal

Toll Brothers Inc. (NYSE: TOL) has scooped up 202 acres in Pinal County, just across the street from Queen Creek, with plans to build 618 entry-level homes.

The national homebuilder paid $21.12 million for the land at the northeast corner of Spring Valley Parkway and Hunt Highway from an entity tracing to Arcus Private Capital Solutions, according to Vizzda LLC real estate database.

Total development costs for the entire project, including the land acquisition will be about $60 million, said Bob Flaherty, Arizona division president for Horsham, Pennsylania-based Toll Brothers.

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