By Janet Perez | YourValley
Over the past year, developers have been purchasing land in and around Florence, signaling that an influx of residential homes are coming.
And a recent purchase shows just how serious developers are about the area.
In January, Scottsdale-based El Dorado Holdings purchased about 4,150 acres of land in Florence for $82.7 million to develop master-planned communities. The land is divided into two non-contiguous locations that could add as many as 12,000 homes.
One parcel of land is mostly east of Parkside at Anthem at Merrill Ranch by Pulte Homes with the second parcel located south of Felix Road and Hunt Highway.
That purchase has drawn the attention of some experts.
“El Dorado Holdings is a very highly qualified and patient developer and they have not done dumb things. They have a long view of what it takes to develop a major piece of land,” said RL Brown, founder RL Brown Housing Reports, which follows homebuilding in the Valley. “(They have) expectations to be a success there. I would think they’d be as good of developers as Florence could ever hope to attract, in my opinion.”
