Karen Schutte | Real Estate Daily News
Tucson, ARIZONA — LGI Homes closed on another 126 lots in the Star Valley master-planned community MPC in Tucson’s southwest submarket. The paper lots were purchased for $4,961,250 ($39,375/Lot). The land was purchased from GAC Star Valley, LLC. The Star Valley MPC ownership is a partnership formed in 2020 between Mike Geddes, Rick Andreen, and Sunbelt Holdings. With several large-scale Tucson projects in different stages of production, Sunbelt Holdings has become one the largest master developers in the region.
The new lots are 45’X120’ and located in Block 3, south of Yedra Road. The latest purchase -will offer LGI product flexibility in addition to the 101- 40’X110’ lots that LGI purchased in January of this year.
Star Valley has emerged as one of the best producing projects in the Tucson metro area. Sales at Star Valley Destiny Collection (Lennar), Las Patrias at Star Valley (Meritage Homes) and Seasons at Star Valley (Richmond American) continue to be strong and have signaled a renewed strength to Tucson’s southwest submarket. The project will have new phases approved and available lots towards the end of 2022 which will continue to provide seamless lot supply for the community’s homebuilders.
