Tag Archives: RCLCO

Family on Trail at Vistancia

Vistancia records highest new home sales since 2008

Mirroring a national real estate trend, Vistancia has experienced the highest first two quarters in new home sales activity since 2008, achieving 271 net sales at mid-year among the master plan’s three actively selling communities – The Village at Vistancia, a family-friendly multi-generation community; Blackstone at Vistancia, a gated luxury golf course community featuring the only private golf course in the Northwest Valley – Blackstone Country Club; and Trilogy at Vistancia, an active adult resort community.

According to RCLCO’s national survey at mid-year, Vistancia ranked number 11 among the top-selling master planned communities in the United States and achieved the highest growth rate, up 171 percent from the same period last year. National factors such as strong job growth, lower interest rates and rising rental costs continue to spur new home sales across the country reaching 2008 levels.

Vistancia attributes its sales success to an increase in new home builder inventory totaling more than 75 floorplan options, the grand opening of Trilogy at Vistancia’s active adult community’s 360-acre expansion in January and the master plan’s diverse range of new home pricing  with options from the high $100s to $500s. In total, The Village at Vistancia accounts for 52 percent of new home sales, Trilogy at Vistancia at 37 percent, and Blackstone at Vistancia achieved 11 percent of the master plan’s recorded mid-year sales.

Vistancia has also seen a 24 percent increase in new home buyer visitors to the Vistancia Information Center year over year.  “Vistancia has a diverse range of home styles available to homebuyers that offers nearly something for every type of family. That, along with Vistancia’s location set alongside the new Loop 303 and our rich selection of amenities immersed in the natural Sonoran Desert is driving an increase in demand for new homes at our community,” said Mark Hammons, vice president/general manager of Vistancia.

The West Valley is also home to the region’s newest freeway, Loop 303, serving as a growth magnet and decreasing drive time for commuting and entertainment in other areas of Phoenix.

Vistancia’s private golf course community, Blackstone at Vistancia, has also observed an increased interest in its selection of custom homesite inventory. Only 10 custom homesites remain of its 62 custom lot inventory, ranging from $160,000 to $350,000, with five sold during the past year. Three custom homes are currently under construction with another four homes in design review.

Vistancia’s premier collection of new home builders include Ashton Woods, Gehan Homes, Mattamy Homes, Meritage Homes, Ryland Homes, Shea Homes, Toll Brothers, T.W. Lewis by David Weekley Homes and Woodside Homes, offering homes ranging from 1,473 to 4,762 square feet. Additional home plans coming soon include Ashton Woods with two new floorplans, Mattamy Homes offering a new loft plan, and Toll Brothers introducing two new single-story designs. In addition, T.W. Lewis by David Weekley Homes will break ground on a new Fairways luxury neighborhood in Blackstone at Vistancia.

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Eastmark in Mesa No. 8 in nation for home sales

In a report released by real estate advisory group RCLCO this week, Eastmark was ranked No. 8 among the Top 20 top-selling master-planned communities in the nation during the first half of 2015.

Eastmark opened in Mesa, Ariz. just over two years ago (June 2013) and the 2015 season has seen strong interest from buyers wishing to live in this thriving community. Today, over 1,200 residents call Eastmark home and the community is growing fast, with continuous new phases opening and planned.  An active adult neighborhood from AV Homes debuted in March, and the first gated neighborhood from Meritage Homes is coming to the community in the fall.

Vistancia in Peoria, Ariz. was the only other Arizona community to make RCLCO’s top 20 list.

Dea McDonald, Senior Vice President and Eastmark General Manager said “the continued population growth and the demands for residential housing in the Southeast Valley make Eastmark a primary beneficiary of future growth.  We are focused on the creation of a world-class community that will contribute to the economic vitality of the Southeast Valley.  At Eastmark we have created a framework that allows the community to grow organically over time based on the demands for employment, housing and various other uses.  Eastmark is already home to two A-rated charter schools including BASIS Mesa and Sequoia Pathfinder Academy. The Queen Creek School District will be opening their newest campus next to Eastmark in August this year. The mix of amenities from the growing Eastmark Great Park to the Orange Monster, 25+ neighborhood parks and an active community life are drawing more buyers into our community and creating an active destination for buyers looking for something authentic and engaging.”

Phase two of the community has already opened with builders William Ryan, Ryland, Woodside and Taylor Morrison now actively selling, adding to the wide variety of floorplans and products available. Also a phase two addition, Eastmark will be open its first community pool to residents in 2016.

AV Homes, Inc.

Avatar Holdings Inc. Becomes AV Homes, Inc.

Strategic planning initiative defines new brands, business plans, products

With nearly 80 years of history behind it, builder and developer Avatar Holdings Inc. is changing its name.  The new company name is AV Homes, Inc. and its shares will begin trading on NASDAQ under the ticker symbol AVHI effective as of the market open on Feb. 16, 2012.  AV Homes has main offices in Poinciana, Florida and Scottsdale.  The Arizona communities include CantaMia, Serena at Palm Valley, The Preserve at Palm Valley in Goodyear, and Arboleda Ranch in Phoenix.

The new name was chosen to communicate an unmistakable business identity to its customers, while maintaining a linkage to the company’s long and successful history.  The new name, however, is just one part of a larger strategic planning initiative that was undertaken to position the company to participate in the much anticipated rebound in the homebuilding sector.

AV Homes has deep and diversified roots in American business.  Founded in 1933, it endured the Great Depression and has operated in business sectors such as finance, insurance, utilities and manufacturing.   More recently, the company established itself as a builder of active adult communities for people 55 and older, and by serving the housing needs of move-up buyers.

Chief Executive Officer Allen J. Anderson, who stepped into the role in June 2011, said the strategic planning initiative, conducted with assistance from real estate advisory firm RCLCO, has served to redefine the company’s business plans.  “As a company we have a strong understanding of the active adult market and how the last five years have affected the retirement plans of Baby Boomers,” he said.  “In addition, Boomers have never been more focused on the elements that contribute to a healthy and vital lifestyle.  These are both factors that will help us define the homes and lifestyles we provide to this massive demographic segment of our population,” he added.

Anderson said AV Homes will soon bring new active adult brands to the market, but did not elaborate about the specific elements of those brands.  Late last year the company announced that it is reviewing its thousands of acres of land holdings in Central Florida with the objective of selling some of those holdings and deploying the capital from those sales to diversify the geographic footprint of the company.

Recently, the company rebranded its primary residential development operations under the Joseph Carl Homes™ name.  That brand has ongoing operations in the Orlando and Phoenix areas.  Joseph Carl Homes was founded by AV Homes Executive Vice President Carl Mulac.  Mulac and his business associates sold the company to AV Homes in October of 2010.  That sale also included CantaMia, a 55+ active adult community near Phoenix.

Anderson said the overall rebranding activity was an important part of the strategic plan, but added that the company was also implementing a new operational model to address the economic realities of the industry.  “Builders today cannot compete successfully using the operating models of the past,” he said.  “We closed our corporate offices in Coral Gables, Florida and placed our teams and executive officers on the ground closer to our assets.  We’ve right-sized our employee base to align with ongoing operations, and have initiated third-party agreements with experienced service providers who can better manage our lifestyle operations and enhance our customers’ satisfaction,” he said.

Finally, as part of AV Homes’ strategic planning initiative, the company has reduced the size of its Board of Directors from nine members to six.  Directors Milton Dresner, Beth Stewart and Ken Rosen resigned from their positions effective Feb. 13, 2012.

Avatar Chairman Joshua Nash said he was extremely appreciative of the considerable contributions these directors made on behalf of the company over so many years of dedicated service.  “They served Avatar with dedication and high distinction for many years and together, they have contributed to our success and helped build a strong foundation for our future growth.  We thank them for their unwavering commitment and wish each of them continued success in their future endeavors,” Mr. Nash said.

Go to AVHomes.com for more information.