Land Advisors Organization recently facilitated 70 acres of land sold to Meritage Homes of Arizona for $10.1 million. The 70-acre parcel, which is preliminary platted for 271 new home lots, is located at the southwest corner of Apache Road and Southern Avenue.
Ben Heglie, Bret Rinehart and Ryan Semro with Land Advisors Organization’s homebuilding team represented the seller MPC Mystic in the transaction. This project marks Meritage’s fifth new home community in Buckeye. They have been building in the area since 2017.
“Over the past two years, Buckeye has announced nearly 3.7 million square feet of commercial development with major employers establishing themselves in the area and driving a growing need for workforce housing,” Rinehart says. “Meritage is well-known across the Valley as an exceptional builder and with this project, they will make new, much-needed, homes to Buckeye’s growing employment sector. It’s very rewarding to be part of expanding Meritage Homes’ presence in the area.”
Utilizing the land, Meritage Home will be offering single family homes ranging from 1,239 square feet to 2,110 square feet with pricing starting in the low $300s, providing buyers seeking in the area with a wide range of options. Meritage Homes’ new South Buckeye community is in close proximity to employment centers, shopping, dining and Youngker High School.
Construction is expected to begin in mid to late 2023, with the first new homes completing in early 2025. “The economic environment in Buckeye continues to provide opportunities for homebuilders as more and more jobs come to the area,” says Scott Loncki, director of land acquisition for Meritage. “We are excited to deliver a unique community that will provide attainable ownership offerings to homebuyers as affordability remains an issue across the valley.”