Raintree Investment, Richmond American Homes rolling out new Avondale development

(Disclosure: Rose Law Group represents Raintree Investment Corp. and Richmond American Homes on this deal.)

By Mike Sunnucks | Rose Law Group Reporter

Phoenix-based Raintree Investment Corp. is developing a 435-lot new residential development in Avondale at Buckeye Road and 107^th Avenue.

The Avondale development is called Vista del Verde.

Chris Janson, executive vice president for Raintree, said, said the first 140-lot phase has been completed with Richmond American Homes constructing model homes.

“Avondale is quickly becoming an infill submarket in the West Valley with a number of quality homebuilders and developers opening up new stores. We were fortunate to partner with Richmond American Homes in the first phase of this project given their strong history in this part of town,” Janson said.

Raintree bought the land coming out of the Great Recession. The four-phase development includes a K-8 school site and 7-acre community park.

Janson said Raintree is looking or additional land and development opportunities in the West Valley.

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June 16, 2020

Richmond American Homes

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