Photo via Lennar
By Real Estate Daily News
Tucson, ARIZONA (January 17, 2025) — Forestar (USA) Real Estate Group Inc., finished the end of 2024 in Tucson with a significant acquisition of 70 acres known as Blocks 19 and 21 in the Star Valley master-planned community in Tucson’s Southwest Submarket. The zoned land was purchased for $10,164,500 ($145,000 per acre with utilities to the site) and is the first in a scheduled takedown of 141 acres total. The land was purchased from GAC Strategic Capital, LLC. (Mike Geddes, Rick Andreen). Forestar has been extremely active in Tucson, developing finished lots in multiple locations.
The blocks will be designed and processed for production lots. The property is located on the east side of the master plan along both sides of Los Reales Road.
As one of the best-producing projects in the Tucson metro area, Star Valley has played a lead role in the renewed strength of the southwest submarket. The project is home to a strong homebuilder roster, including Meritage, Lennar, Richmond American, and LGI. Star Valley is being developed in partnership between Sunbelt Holdings and Andreen/Geddes. The master plan looks to have several new Blocks available at the start of 2025.
