By AZ Big Media
IHP Capital Partners, one of the nation’s leading real estate investment firms, and Cachet Homes, an Arizona-based luxury homebuilder, have formed a joint venture (JV) to acquire a 66.7-acre parcel in North Phoenix for the development and construction of 162 single-family homes. Within the Union Park at Norterra master-planned community, the project includes 102 alley-loaded lots and 60 traditional front-loaded lots. Development is underway and project completion is anticipated in Q3 2022. Sales are scheduled to open in summer 2022.
“Demand for new homes in Phoenix remains strong and North Phoenix continues to draw new residents and corporations, particularly within the semiconductor industry,” says Eric Koff, senior vice president at IHP Capital Partners. “Union Park at Norterra is a vibrant mixed-use community in a spacious desert setting with a wealth of amenities. IHP is pleased to partner with Cachet Homes, a well-known and respected builder in the Phoenix region, to deliver much-needed new homes that offer character and a preferred lifestyle.”
