News
Acquisition and Investment
Feb/18/2020

KB HOME OPENS ARIZONA, COLORADO COMMUNITIES

KB Home (NYSE: KBH) on Friday announced the grand openings of communities in Arizona and outside Denver.

Arroyo Seco, a distinct collection of affordably priced ranch-style homes, is located in Buckeye, near major highways and featuring numerous planned amenities.

“Arroyo Seco offers home shoppers the opportunity to purchase a new, personalized KB home at a price that fits their budget,” said Kevin McAndrews, president of KB Home’s Phoenix division. “The new community is situated close to major freeways and will have several proposed amenities that will provide residents access to abundant outdoor activities.”

Arroyo Seco residents will enjoy the community’s numerous proposed amenities, including a baseball field, soccer field, playground, sports courts, greenbelts, ramadas and walking paths. The four single-story floor plans at Arroyo Seco feature up to four bedrooms and two baths, and range in size from approximately 1,700 to 2,300 square feet. These new homes feature great rooms, storage space, designer kitchens and optional three-car garages.

Arroyo Seco is close to Interstate 10 and Loop 303, offering convenient access to job centers, downtown Phoenix and several entertainment venues. The community is also situated within the Litchfield Elementary School District. Pricing begins in the $250,000s.

To the north, KB Home announced the grand opening of The Canyons, an enclave of one- and two-story homes nestled among the rolling hills of Castle Pines, Colorado. The new community is located in The Canyons, a new 1,270-acre master plan that will offer a host of planned resort-style amenities.

A KB Home model at The Canyons.
A KB Home model at The Canyons.

“We are proud to be opening our second community at The Canyons, where we will offer a diverse selection of new-home designs in a neighborhood that will include a number of planned resort-style amenities,” said Randy Carpenter, president of KB Home’s Colorado division. “With almost a third of this master-planned community dedicated to parks, trails and open space, our homes can provide a tranquil setting where the outdoors is a constant invitation to explore.”

The Canyons is Castle Pine’s newest master-planned community and just a short drive to Douglas County schools, shopping and dining. The planned resort-style amenities will include expansive parks, hiking trails and a community center with event space, a fitness center, pool, coffee bar, lounge and kid’s zone. KB Home’s newest addition to the master plan showcases one- and two-story homes with up to seven bedrooms and four-and-a-half baths, ranging in size from approximately 1,900 to 2,500 square feet. These new KB homes feature spacious great rooms, gourmet kitchens, expansive master suites, covered porches and basements. Pricing begins from the $520,000s.

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Leasing and Development
Feb/12/2020

Maracay Unveils New Community in Buckeye

BUCKEYE, Ariz. —Maracay is unveiling its highly anticipated Arroyo Seco residential community, located near the edge of the stunning White Tank Mountains in Buckeye, Arizona, on Saturday, Feb. 15.

The grand opening event will include a neighborhood gathering from 12-3 p.m. and feature a catered lunch and refreshments. Potential home buyers are encouraged to attend the family-friendly event, explore the community and learn all about the neighborhood and its amenities with one of Maracay’s New Home Advisors.


Featuring a monumental entrance that sets the stage for a collection of oversized homesites, Arroyo Seco offers the intimacy of a private neighborhood without forfeiting the benefits of an amenity-rich community. The largest homesites available offer more than one-quarter acre, which provide added elbow room between homes to maximize living space and privacy. Meanwhile, a majority of the homesites are also strategically situated in a north/south orientation for cooler home interiors during the warm summer months.

“Arroyo Seco offers a selection of thoughtful home amenities designed to appeal to those who can’t get enough of the West Valley’s easy access to adventure. Outdoor lovers will enjoy the detached or attached RV garages and accessory buildings, while multi-generational families will fall in love with the detached casita option,” said Maracay Project Development Manager Stephen Burris. “The detached or attached RV garages and accessory buildings are perfect for storing a boat, RV or gear for an outdoor excursion or trip to nearby Lake Pleasant.”

Families can choose from five spacious, one- and two-story floor plans, ranging from approximately 2,695 to 4,347 square feet, and personalize each home with Maracay’s Flex Design® options. Included options with these homes are GE® stainless steel appliances, granite kitchen countertops, gas tankless water heaters and a detached casita option with a full living and dining area, walk-in closet, bedroom, bathroom and covered porch.

Beyond each home’s four walls, residents will find a community that celebrates the outdoors with a centrally located park, complete with sports fields and plenty of open space for the kids to roam and play. Volleyball and basketball courts, a tot lot, ramadas and community grills beckon neighbors outside for afternoon barbecues, al fresco dining and weekend get togethers with friends and family. Nearby, Maricopa County’s largest regional park, White Tank Mountain Regional Park, offers 30,000 square feet of rugged and beautiful desert-mountain landscape featuring a range of outdoor activities, including tent or RV camping, picnicking, hiking and much more. Big-city amenities are also just a short trip away via State Route 303 and Interstate 10, which puts Arroyo Seco just 20 minutes from Downtown Phoenix.

The homes at Arroyo Seco will be registered with the U.S. Green Building Council (USGBC), a third-party rating system that verifies compliance across several areas addressing sustainability, with the goal of earning the LEED® Certified designation. Designed to use 30–50 percent less energy than typical homes, each home will meet the EPA’s Indoor airPLUS specifications and will feature water-efficient fixtures, LED lighting, energy-efficient heating and cooling systems, Energy Star® appliances, tankless water heaters, and Wi-Fi-enabled, programmable thermostats. All homes will also be Energy Star® certified and feature the latest in smart home technology and Maracay’s proprietary LivingSmart® program for maximum performance and cost efficiency.

For more information about Arroyo Seco, please contact Maracay’s New Homes Specialist Team at NewHomes@MaracayHomes.com or by calling (480) 401-5620.

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Leasing and Development
Jan/28/2020

As Tucson Moves to Affordability, Meritage Homes is Strategically Entrenched

MARANA and TUCSON, ARIZONA – Meritage Homes closed on 91 SFR lots at Gladden Farms in Marana near the end of 2019 for $4.1 million, $44,800 per finished lot. All lots are 40 x 120.

Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moore Roads. With four home builders active in the community, it is one of the most active communities in the Northwest submarket.

Meritage bought its first block lots at Gladden Farms in December 2015.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and have the marketing assignment on all of Gladden Farms by the developer, Crown West.

“Meritage has been very strategic in entrenching themselves in Tucson’s top projects and in this lot size segment,” said White. “They are currently in position to have a strong and efficient ‘conveyor belt’ of lots if they choose. In a market that is experiencing a historic shortage of developable lots, it’s a nice spot to be in.”

Since the beginning of the year, Meritage Homes has also closed on 41 SFR lots at La Estancia in the eastern Tucson market for $2 million, of $49,000 per finished lot. The 41 lots were 40 x 115.

La Estancia is a 565-acre residential community located along the I-10 corridor between Wilmot Road and Kolb Road, and offers residents access to the nearby Julian Wash trail system.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction for buyer and developer, Sunbelt Holdings.

“Tucson has been moving to affordability for the past 3 years,” White said. Lot offerings of 40′-50′ feet are not on the market long (if they make it to the market at all) and the pace and pricing power is helping to underwrite these deals quickly and easily. It is proving to be a very successful and sought-after lot size/ home size. The situation we have in Tucson is that several builders are searching for these positions and there are only so many of them to go around. If these lot size opportunities are presented, it would be a good move to pick them up swiftly.”

For additional information, White and Carroll can be reached at 520.514.7454.

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