Maracay Homes closes on $9M land buy in Chandler
Maracay Homes, a wholly owned company of the TRI Pointe Group (NYSE: TPH), has closed on 91 premium homesites in Chandler, Arizona for a total purchase price of $9 million dollars.
The 37-acre parcel, located at the southeast corner of Cooper and Riggs roads, will be developed into Windermere Ranch, a new, single-family home neighborhood featuring all single-story homes. The community is scheduled to begin development in late 2017 and open in early 2019, said Jason Weber, Maracay Homes’ vice president of land acquisitions and development.
Culver White and Carl Lueck of Insight Land and Investments in Scottsdale brokered the transaction between Maracay and the seller, Cooper Lots, LLC, an entity owned by the Ho family. Homes are planned to be built on 10,000-square-foot homesites and will range from approximately 2,600 to 3,500 square feet.
“Maracay is excited for the opportunity to develop another premium community within the highly sought after and land-constrained Chandler submarket,” said Alex Rihl, Maracay Homes senior land acquisition specialist. “The community will incorporate elements evoking the character of the area and pay tribute to its history.”
Windermere Ranch is conveniently situated in Chandler’s fast-growing southern region, just minutes from the city’s s iconic downtown area and major East Valley employment centers, shopping, dining and other amenities via the SanTan Freeway and nearby major expressways.
For more information on Windermere Ranch, please contact Maracay Homes New Homes Specialist Pam Meyer at NewHomes@MaracayHomes.com or by calling (480) 826-8542.