Maracay Homes, a wholly owned company of the TRI Pointe Group (NYSE: TPH), closed on a $3.8 million purchase of 93 homesites for courtyard cluster single-family detached homes in Goodyears.
The homes are in the Rio Paseo Cottages community on West Encanto Boulevard, north of Interstate 10, in Goodyear, Ariz.
Maracay Homes closed on 9.4 acres near South Mountain on Wednesday, with plans to close a sale in January on a neighboring plot of land.
David Cornwall, Chris Barr and Joseph Schram of Quantum Holdings LLC, were the representatives of the Goodyear lot sellers, WQC Rio Paseo Investors IV LLC. Phil Clark was the broker who brought the opportunity to Maracay Homes.
Rio Paseo Cottages was originally developed prior to the recession and already has 75 completed homes within the community. Although Maracay took an assignment of the original floor plans, the Arizona homebuilder is designing a completely new floor plan series to appeal to the unique preferences of today’s Millennials, Gen-Xers and Baby Boomers, who prefer open concept, indoor-outdoor living and trendy finishes.
Ranging from 1,650 to 1,950 square feet and priced from the mid $200,000s, the fresh and current floor plans will provide affordable, single-family detached homes below the FHA loan limits while at the same time, featuring spacious great rooms, walk-in kitchen pantries and front courtyards.
Maracay’s Rio Paseo Cottages will also offer FlexDesign options tailored to meet each family’s individual needs. All homes are Energy Star certified and include Maracay Homes’ Living Smart program for high performance and energy efficiency.
The community is scheduled to open for sales in the fall of 2017.