The first phase of residential development at DMB Associates’ Eastmark includes seven of Arizona’s most respected homebuilders, adding more than 700 new homes in Mesa, Arizona. In keeping with Eastmark’s commitment to create a mix of residential options for its neighborhoods, the mix of builders includes national, publicly traded, regional and local homebuilders. The builder roster includes: Maracay Homes (NYSE: WY), Mattamy Homes, Taylor Morrison, Woodside Homes, Trend Homes, Standard Pacific Homes (NYSE: SPF) and Meritage Homes Corporation (NYSE: MTH).
“The commitment of these builders represents an unprecedented level of confidence in Arizona’s residential market backed by promising economic indicators,” said Dea McDonald, DMB Senior Vice President and Eastmark General Manager. “We are seeing a resurgence in homebuilding activity in Arizona and in the East Valley. These builders see the value in Eastmarks’ strategic location and integrated plan, which positions this community to be an economic and employment engine for the East Valley and greater region.”
According to a report by Arizona State University’s Center for Real Estate Theory and Practice at the W.P. Carey School of Business, the inventory of previously owned houses for sale in the metro Phoenix area dropped 54 percent in April 2012 from a year earlier. This lack of supply is driving the demand of new homes, sales of which surged 43 percent from April 2011.
“As the first large-scale community to launch in Arizona in nearly a decade, Eastmark is being closely watched,” said Charley Freericks, DMB President. “We are designing the community with the ‘new normal’ in mind. People are putting higher values on a sense of community, proximity to employment and environmental stewardship. Each building partner is creating designs specifically for Eastmark and all are equally committed to the vision of this community.”
Homebuilders are accredited at the Energy Star 3 level for constructing energy efficient homes. They will soon break ground in preparation for Eastmark’s grand opening in May 2013. The seven builders’ combined investment in land and improvements is nearly $50 million and hundreds of jobs are expected across the ten neighborhoods within this first phase.
Each neighborhood will take advantage of the planned 100-acre Great Park and their own community parks, while also encouraging connections to the planned employment and retail centers. The first phase of development features 12 parks throughout Eastmark, providing gathering points for neighborhoods and enhancing the sense of community.
DMB’s Eastmark Phase One Builders and Number of Homesites:
- Maracay Homes (NYSE: WY) – 165
- Mattamy Homes – 163
- Taylor Morrison – 103
- Woodside Homes – 96
- Trend Homes – 84
- Standard Pacific Homes (NYSE: SPF) – 58
- Meritage Homes Corporation (NYSE: MTH) – 40
At five square miles (3,200 acres), Eastmark is a vibrant, integrated and evolving regional community poised as “The Heart and Hub of the East Valley.” Eastmark sits at the center of a major transportation hub anchored by the Phoenix-Mesa Gateway Airport, three major freeways, numerous businesses and acclaimed educational institutions. An expansive 100-acre Great Park connects residential areas, resort components, employment cores, recreational spaces and commerce. Eastmark is the largest privately held, contiguous property in the Southeast Valley.
