Photo by Jim Poulin/Phoenix Business Journal
(Disclosure: Rose Law Group represents Brookfield Residential, Lennar and Taylor Morrison.)
By The Business Journals
Water supply issues have builders worried
The Valley of the Sun, as the Phoenix metro is known as, only has about 28,000 finished lots available for homebuilders to build on and another 35,000 lots under development, according to housing market research firm Zonda Inc.
As a result, homebuilders and developers are mapping out huge, master-planned communities to bring hundreds of thousands of homes to the area, reports Angela Gonzales at the Phoenix Business Journal. But amid a housing market that’s seemingly challenged at every turn, another issue has emerged for Phoenix builders: a potential water shortage.
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