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Old 07-25-2013, 01:50 PM
 
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Someone posted on here a couple months ago how developers have bought up a lot of land and project lots of new construction coming soon. Just curious, has any news been released on anything starting soon?
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Old 07-25-2013, 02:11 PM
 
Location: Phoenix, Arizona
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The most recent one is Eastmark in Mesa. Probably the biggest project of that type underway right now. Mostly what's happening for the short-term future is build out of existing communities. Lots of open space within already existing MPC's to fill first.
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Old 07-25-2013, 03:40 PM
 
Location: Queen Creek, AZ
7,328 posts, read 12,364,611 times
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Quote:
Originally Posted by CodyW View Post
The most recent one is Eastmark in Mesa. Probably the biggest project of that type underway right now. Mostly what's happening for the short-term future is build out of existing communities. Lots of open space within already existing MPC's to fill first.
Unfortunately for the developers, it looks like sales at Eastmark are off at a slow start:
Eastmark home sales in Mesa off to sluggish start after big kickoff event - Phoenix Business Journal
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Old 07-25-2013, 03:48 PM
 
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Interesting that it is a DMB project. If only they would finish one scottsdale...
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Old 07-25-2013, 05:03 PM
 
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I've been spending a lot of time driving around the west valley lately. Not seeing too many people swinging hammers out here. Went through a couple of subdivisions and saw people working on a house here and there, but not cranking them out like they were 10 years ago.

Remember seeing the Cromford report a few months ago say that nothing is going to happen until the price per square foot hits around $130 per square foot. Just looked and Goodyear, Peoria and Glendale are all at about $100 per square foot for the average sale price.
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Old 07-25-2013, 08:54 PM
 
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^^^ not sure where you were driving around , but we are building around 190 homes a month on the west side, and about the same on the east. (Framing company) lots of work in Vistancia, surprise farms, and Estrella/Canyon trails area for the west side.
We can't hire enough people right now...
Nothing like 10 years ago, but we've been consistently over 240 a month for the last two years
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Old 07-26-2013, 10:03 AM
 
Location: Scottsdale, AZ
2,154 posts, read 5,183,796 times
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Have not heard of any new Master Planned Communities, I think it is still a little tough to get that kind of funding.

But there has been significant activity in new homes on a smaller scale. Several new smaller subdivisions here in the north including The Enclave at Lone Mountain (D.R Horton), Bacara (Camelot), Line K at Boulder Mountain (a second phase from K. Hovnanian), Contessa Bella (Bellago) and Richmond American just signed on to build a Lone Mountain in Cave Creek.

Also noticed Meritage just put up a sign at 56th St and Dynamite (south of Montevista).
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Old 07-26-2013, 10:12 AM
 
Location: Centennial, CO
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I work for a large homebuilder and we have 8 communities we are building in in the West Valley. There is a lot going on out there, mostly concentrated in Buckeye, Avondale, and NW Peoria. We are one builder and we're selling about 40 homes per month in the West Valley alone. The last few months have been our highest sales months in Phoenix since 2007/2008.

Agree that there are not a lot of NEW master planned communities out there right now (aside from Eastmark, and yes, sales are slower right now there because some other nearby communities are cannibalizing some of it's sales - when those sell out, look for Eastmark to take off). That is because so many were put on hold or "mothballed" during the downturn, so there is still a huge amount of lot inventory that is still being finished in those communities. Verrado, Vistancia, and others still have a long way to go...
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Old 07-26-2013, 10:22 AM
 
3,819 posts, read 11,953,758 times
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Quote:
Originally Posted by grmi66 View Post
I've been spending a lot of time driving around the west valley lately. Not seeing too many people swinging hammers out here. Went through a couple of subdivisions and saw people working on a house here and there, but not cranking them out like they were 10 years ago.

Remember seeing the Cromford report a few months ago say that nothing is going to happen until the price per square foot hits around $130 per square foot. Just looked and Goodyear, Peoria and Glendale are all at about $100 per square foot for the average sale price.
The new Taylor Morrison development in north Peoria start at $160/sq ft for the smallest model.

Homes in Peoria for Sale: Terramar - Expedition Collection Real Estate from Taylor Morrison

Pulte's new Tierra del Rio development, also in north Peoria, is completely sold out but the prices were starting at $130/sq ft. They are now getting new land ready to build on that will be ready in the fall and I'm sure prices will be even higher once they are able to build again.
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Old 07-26-2013, 10:42 AM
 
Location: Southeast Valley
1,123 posts, read 3,061,362 times
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New communities in Gilbert: http://www.azcentral.com/community/g...-by-panel.html
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