D.R. Horton paid a record price for approximately 120 acres in northeast Phoenix. Only one home was on the nearly vacant swath of desert.
Horton purchased the land, at Bell Road and Tatum Boulevard, for about $80 million, according to public real estate records. The deal breaks down to more than $670,000 an acre, the highest price ever paid for vacant land in the city of Phoenix. The builder plans to develop a community called Arabella, with 750 homes and condominiums. Information on home prices isn’t yet available. Based on what Horton paid for the land, luxury condos and houses will be built there. The seller was the Jean Marley Trust, according to real estate records. Jean Marley was the longtime owner of the only home on the land, which is near the Phoenix-Scottsdale border. Nate Nathan, Dave Mullard, Courtney Buck, and Casey Christensen of Scottsdale-based Nathan & Associates brokered the deal. It took two years of planning and zoning work for Horton to complete the purchase. Reported by Arizona Republic (March 28, 2019) For complete information on D.R. Horton, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database.
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William Lyon Homes has purchased 212 acres in Cypress, Texas, with plans to build its first Houston-area development.
The project, which will be called Bridge Creek, will be located west of Fry Road across from the Miramesa master-planned community and will feature 758 homesites upon completion, according to a press release. William Lyon acquired the land from Connor Investment Real Estate on Feb. 28 for an undisclosed amount. The community is expected to open in spring 2020, said Jennifer Keller, William Lyon’s Houston Division president. “This is a first step for us as we expand our footprint into the Houston market,” she said. The 212 acres were part of a 320-acre plot that had previously been owned by Land Tejas, which bought it with plans to expand the Miramesa community. Land Tejas has agreed to develop Bridge Creek for William Lyon, a spokesperson said. For complete information on William Lyon Homes, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database. PulteGroup Inc. has promoted its area president, West to executive vice president and chief operating officer. John Chadwick's appointment is effective April 1. He has been with the company for 28 years.
Chadwick is replacing Harmon Smith, who had previously announced plans to retire, the company said in announcing the promotion of Chadwick. “We are extremely proud to announce John’s promotion, as he is a recognized leader within our organization and an outstanding operator who has managed some of our largest and most complex markets,” said Ryan Marshall, PulteGroup president and CEO. “His skills, expertise, and deep knowledge of the business will prove invaluable as we continue to advance the critical initiatives which have supported our company’s success.” As Area President, West, Chadwick oversaw PulteGroup operations in Arizona, California, Nevada, New Mexico and Washington. He has also held key division president and finance roles during his tenure. Chadwick holds a B.A. in Accounting from Michigan State University. PulteGroup Inc. is one of America's largest homebuilding companies with operations in approximately 50 markets throughout the country. Its brand portfolio includes Centex, Pulte Homes, Del Webb, DiVosta Homes and John Wieland Homes and Neighborhoods. Reported by Atlanta Business Chronicle (March 22, 2019) For complete information on Pulte Group, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database. https://probizpublications.com/products.html?djoPage=subscribe |
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