(Disclosure: Rose Law Group represents Meritage Homes.)
Harvard Investments Inc. is relaunching a $150 million master-planned community project in the town of Maricopa, a 30-mile drive from Phoenix Sky Harbor International Airport.
The Scottsdale-based developer had teamed up with Meritage Homes Corp. (NYSE: MTH) in 2008 to buy 640 acres at auction. Originally, Scottsdale-based El Dorado Holdings Inc., the developer of the city of Maricopa, sold that land to a joint venture between Meritage and the now-defunct Hacienda Homes in the early 2000s.
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