Maracay closes on $12.1M land purchase

Real Estate | 28 Jun |

Maracay Homes, a wholly owned company of the TRI Pointe Group (NYSE: TPH), has closed on the purchase of 190 additional homesites in the trending South Mountain submarket of Phoenix, Arizona. The $12.1 million purchase represents the second phase of Maracay Homes master-planned community Avance. It’s unique location on South Mountain offers the convenience of an infill location, six miles to downtown Phoenix, with the natural recreational opportunities afforded by bordering South Mountain Park – the planet’s largest urban park.

Ryan Duncan of Nathan & Associates, Inc., brokered the transaction between Maracay and the seller, Vistal Highlands, LLC-Phase Two, an entity owned by Grayhawk Development in Scottsdale. With the addition of the 190 homesites, Maracay has nearly doubled its presence inside Avance, from 204 homesites as part of the first phase to a total of 394 homesites.

Maracay plans to develop Avance into a meticulously modern, gated community offering four new architectural styles of homes. Each design is deeply influenced by the colors, forms and natural materials of South Mountain’s iconic setting. This master-planned community will feature a full slate of adrenaline-powered amenities, including a state-of-the-art fitness center, pool designed for both laps and leisure, seven neighborhood parks, an interconnected trail system and convenient access to the 51 miles of trails in South Mountain Park.

“We are introducing an entirely new selection of home designs that will break the mold in new-home architecture and challenge the status quo of traditional mountain living in the Valley. Bold rooflines, geometric massing and a harmonious mix of earthy elements are just some of the many features that will attract homebuyers to this new modern community,” said Maracay Homes President Andy Warren.  “We’ve carefully designed Avance to not only blend in with the unique aspects of the mountain, but maximize the panoramic views, with features like terraced homesites and expansive windows that frame the downtown Phoenix skyline and South Mountain Park.

Homebuyers will enjoy a mix of one- and two-story floor plans, ranging from 2,000-5,000 square feet, featuring contemporary architecture that draws inspiration from iconic mid-century modern designs. Models are expected to open in early 2019.

Bordered by 14th and 7th streets on the east and west, and Dobbins Road on the north, and abutting  South Mountain Park on south, Avance’s location is just six miles from downtown Phoenix, offering residents plenty of time to squeeze in an outdoor morning workout before beginning their brief commute. South Mountain Park’s 51 miles of trails allow residence of all ages and abilities to hike, mountain bike and commune with nature across its 16,000 acres. 

For more information on Maracay Homes, visit www.MaracayHomes.com.

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