By Real Estate Daily News
HSL Properties of Tucson (Omar Mireles, President) has purchased 50 acres at Thornydale and Tangerine Roads in Marana, with entitlements for 378 build-for-rent lots for $9.45 million ($25,000 per lot). The seller, H2T Partners, LLC of Tucson (Donald Hom, manager) had the property zoned to Specific Plan Marana with several concept plans approved over a four-year period.
The entitlements for build-to-rent lots are what attracted HSL Properties to the deal. This will be HSL’s first build-for-rent community, as they are best known for their luxury Encantada apartment communities in Tucson, Phoenix, Casa Grande, and Yuma.
This will be HSL’s first build-to-suit project.
Encantada Saguaro National in the Vail area and The Flinin Downtown Tucson are two of their latest apartment communities to open. Encantada Twin Peaks, just one interstate exchange away from this new project, is scheduled to open Spring 2023.