A recent transaction by Land Advisors Organization’s Scottsdale team of Ben Heglie, Bret Rinehart and Ryan Semro completed the 80+ acre assemblage in Northeast Scottsdale that is planned for a 51-lot luxury home community called Boulder Ranch Estates.
Toll Brothers AZ Construction Co. Inc. in Scottsdale acquired the land in two cash transactions totaling $12.195 million. Toll Brothers paid $6.695 million to purchase 40+ acres at the northeast corner of 118th Street and Jomax Road from the seller, Lettiville Park Partners LLC, and paid $5.5 million to acquire another 40+ acres located along the north side of Jomax Road, east of the other 40 acres, from Red Bird Vistas LLC. Both sales were brokered by the Land Advisors Organization team.
The preliminary plat indicates lots averaging 1-acre, with home sites ranging from .76 to 3.4 acres, with five of the lots being at least 3 acres. Toll Brothers intends to build residences ranging from 3,500 sq. ft. to 6,000 sq. ft. with base pricing tentatively to run from $1.1 million to $1.5 million. The models within the gated community are expected to be open by July 2019.
