Mortgage And Real Estate News

Sunday, July 7, 2013

Lennar adds 127 home sites in north Phoenix, citing demand


Citing a great location and high demand, Lennar Corp. is developing 127 additional home sites at the Estates at Lone Mountain in the Northeast Valley.

The new homes, near 64th Street and Lone Mountain Road in northeast Phoenix, have base prices around $400,000 to $460,000 and will be 2,900 to 3,600 square feet. The development currently has about 400 houses.

Alan Jones, division president of Lennar Arizona, said the values in the market are increasing at “such a prime location.”

“We’re going to be sold out fairly soon, and so these are the home sites that will be a replacement for what we’re currently building,” Jones said.

Builder Taylor Morrison also is selling homes in the development.

Read more: Lennar adds 127 home sites in north Phoenix, citing demand

Reuters: Business News

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