By InBusiness PHX
Tri Pointe Homes and Pulte Homes, two of the largest homebuilding companies in the U.S., announced the acquisition of 274 gross acres within the Aloravita planned community in Peoria, Arizona. The acquisition, completed through a 50/50 joint venture between Tri Pointe Homes and Pulte Homes, follows a successful Arizona State Land Department public auction held on October 17, 2024. The purchase price was $63 million.
“Aloravita represents an exceptional opportunity to bring new housing to one of Peoria’s most desirable growth areas,” said Division President of Tri Pointe Homes Arizona James Attwood. “This acquisition reflects our continued focus on well-located communities that offer access to nature, strong schools, convenient retail and employment connections, and a premium lifestyle experience. We’re proud to collaborate with Pulte Homes on a community that can help meet ongoing demand while contributing thoughtfully to the continued evolution of Northwest Peoria.”
Located along Westwing Parkway north of Happy Valley Road, the site represents the final parcel within the Aloravita planned community. The future community is anticipated to include approximately 568 total homesites, with 275 homesites planned for Tri Pointe Homes and 293 homesites planned for PulteGroup. Phase one is expected to include 109 homesites for Tri Pointe Homes and 164 homesites for PulteGroup. Site grading is anticipated to begin in summer 2026, with model home construction currently anticipated to start in the fourth quarter of 2027.
