(Disclosure: Rose Law Group represents Lennar and Meritage Homes.)
By Karen Schutte | Real Estate Daily News
TUCSON, ARIZONA — One of Tucson’s most successful master-planned communities is getting ready to start construction on a new phase of 464 lots. Meritage Homes, Lennar and Pulte Homes Homes have teamed up to buy 464 finished lots paying a combined $29.1 million. Meritage Homes paid $16,195,750 for 271 lots (193-40’X115′ and 78-45’X115′) Lennar paid $6,790,000 for 97 finished lots (50X115) and Pulte paid $6,156,000 for 96 lots (45’X115′).
Meritage and Lennar have been building and selling in La Estancia for years and this will be Pulte’s first time in the project. The seller in these transactions was Sunbelt Holdings.
La Estancia, a 556-acre master planned community, offers master-planned living in this prime southeast submarket. Centrally located just off of I-10 and Wilmot Road and nearby some of Tucson’s most prominent employment centers including Raytheon Missile Systems, Davis Monthan Air Force Base, UA Tech Park and Tucson International Airport. Residents benefit from community amenities including a sparkling pool, splash pad, shaded ramadas and play equipment, ready for use. This new phase will advance development south of Camino Boleadoras and include a new amenity package as well.
