DR Horton buys 119 lots in Buckeye for $8M

Real Estate | 25 Feb |

DR Horton bought 119 residential lots in Buckeye for $ $8,011,700, according to the commercial real estate tracking website Vizzda. The seller was Forestar Group.

The land is located at the northeast corner of Apache and Lower Buckeye roads in Buckeye.

READ MORE: Here’s the outlook for land and housing in 2021

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The land includes 119 platted and engineered single-family residential lots. The land is part of Desert Moon Estates Parcel 2, which totals 146 lots on 38.15 acres.

The city of Buckeye’s 56.6% population increase since 2010 made it the second-fastest growing city in the nation for the past decade.

City and town population estimates released by the Census Bureau show Buckeye’s population grew to 79,620 in 2019, a 7.1% increase in just one year and a sizable leap from the 50,851 people who lived in the city in 2010.

As the westernmost suburb of Phoenix, Buckeye is the one major Arizona city between Phoenix and Los Angeles. Besides being a major stop for goods and people traveling between the two metropolises, its location has also made Buckeye an attractive place for California companies looking to relocate, said David Roderique, Buckeye’s economic development director.

“They can’t take the congestion and the cost of regulation and all the problems that California is having, so Buckeye benefits from that,” Roderique said.

Another advantage is Buckeye’s size, sprawling across 640 square miles of largely undeveloped land. Officials said that only 5% of the land inside the city limits is developed. That makes the city a draw for people looking for affordable housing and planned communities, said Annie DeChance, the city’s communications director.

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