By Angela Gonzales | Phoenix Business Journal
Lennar Corp. and KB Home (NYSE: KBH) have committed to building 290 entry-level homes in the West Valley near Luke Air Force Base.
Sometimes that many lots are too many for one builder, so the two companies jointly paid $8.7 million for 290 final platted and engineered lots, said Howard Weinstein, founding principal of The Land Agency, who brokered the transaction.
The lots are within the 250-acre Marbella Ranch North master-planned community, which is north of the northwest corner of Glendale and El Mirage roads in an unincorporated area of Maricopa County.
This acquisition marks the third deal for both of the homebuilders within Marbella Ranch.
