Major builders grease the wheels for future development, carving out land deals that will allow them to continue to capitalize on the red-hot housing market being fueled by low interest rates and a nationwide shortage of housing inventory.
Mattamy Homes scooped up an 85-acre parcel in Arizona for a community of more than 300 homes. Toll Brothers and Lennar plan to build a 1,200-home community on land they recently purchased in the Los Angeles area. Taylor Morrison plans homes and townhomes on a North Carolina site it acquired late last year. LandSea Homes acquired sites in Northern California and Arizona where it will build a combined 622 homes. And Christopher Todd Communities made its first acquisition in Dallas for one of its build-to-rent communities. Mattamy purchased an 85-acre property in San Tan Valley, Ariz., located in the San Tan Heights master-planned community, for $20.56 million. The property is platted for 324 home sites, and the new community planned for the site will be known as Pinnacle at San Tan Heights. Mattamy’s Pinnacle at San Tan Heights community is expected to start land-development activities later this month and open for sale in late summer 2022. San Tan Valley offers residents easy access to freeways, connecting them to major employment centers in Chandler, Mesa and beyond. The San Tan Heights master-planned community will be home to approximately 4,800 homes upon completion. The overall community offers residents an aquatic and recreation center, located just one mile from Mattamy’s property. The aquatic center includes a resort-style pool with beach entry, open swim area, lap lanes and shaded seating. The recreation building offers a fitness center, prep kitchen, meeting and activity rooms and outdoor gathering area. There are also numerous parks and playgrounds, basketball and volleyball courts, green belts and six miles of paths and trails. Toll, Lennar to build 1,200-Home LA Area Community Long-disputed hilltop land in Montebello, Calif., has been sold and will become a 1,200-home community. Homebuilding giants Toll Brothers and Lennar bought the land from Sentinel Peak Resources, says Land Advisors Organization California. The sellers were energy investors who bought the old oilfield property in 2016. Construction has started to grade the land for the first 349 homes at what will be the gated Metro Heights at Montebello Hills. Models are expected to open in 2022. The project will eventually offer stacked, flat condos, townhomes, and single-family detached homes. Taylor Morrison Maps Plans for N.C. Land Taylor Morrison plans to build 145 single family homes and 95 townhomes on land it purchased in December in Mooresville, N.C. The company has started work on the site now that the local board of commissioners approved an annexation for the project. The annexation included 75.8 acres and a utility extension. LandSea Acquires Land in California and Arizona LandSea closed on 247 homesites at Bentridge, located in the heart of Buckeye, Ariz. This comes on the heels of the acquisition of 193 additional homesites at North Copper Canyon in Surprise, Ariz., and 182 homesites at the Alameda Marina master-planned community in Alameda, Calif., that will celebrate the regions historic Marina Waterfront. At Bentridge Landsea plans homes for the first-time buyer market as well as larger homes of the move-up market. A combination of 14 floorplans will include single- and two-story home designs. Construction is slated to begin in 2022, with sales expected to commence in fall 2022. In Alameda, Landsea will offer a total of 182 townhomes for sale in two different neighborhoods. The first neighborhood, called Island View, includes 98 homes with seven different floor plans ranging from 1,462 square feet to 2,386 square feet. Each home will feature an outdoor porch and deck, and select floor plans will offer private roof top deck space with expansive views of the marina. The second neighborhood will be called Waterside and will include 84 homes with four floor plans ranging from 2,138 square feet to 2,689 square feet. This collection will offer four bedrooms and three-and-a-half to four bathrooms. Each home in this neighborhood will boast a private roof top deck space with a waterfront view. Construction is underway at North Copper Canyon and sales are expected to commence in spring 2022. This collection of 193 new homesites will consist of one-and two-story single-family homes with 14 distinctive floor plans. Homes will offer options for two to five bedrooms, and up to five car garages. Landsea Homes also acquired 476 single-family homes last September at Sunrise Ranch in Surprise. Home sales are expected to begin for that community this summer. Christopher Todd Expands Build to Rent SF Home Communities Single-family-home build-to-rent pioneer Christopher Todd Communities enters the Dallas market with the purchase of about 15 acres on which it plans to build a 140-home community in Grand Prairie. The company is spearheading this project with Taylor Morrison, its national partner for development of branded luxury rental communities comprised of single-story, single-family homes in gated communities that feature resort-style amenities and on-site management. The Christopher Todd Communities Built By Taylor Morrison has been building primarily in Arizona but has national expansion plans in Texas, North Carolina, and Florida where land searches are underway.
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