Maracay, a wholly owned company of the TRI Pointe Group, has closed on 266 homesites in the Madera master-planned community in Queen Creek.
Maracay paid $11.46 million for the 266 homesites, which have been purchased on a guaranteed finished basis that will total $25.15 million, according to a release.
Maracay anticipates the community will open for sales in late 2021.
The transaction between Maracay and the two sellers, Delaware entities owned by Communities Southwest, was brokered by Nate Nathan of Nathan and Associates in Scottsdale.
Located on Signal Butte Road, south of Queen Creek Road, the land is being developed into a single-family community and is expected to open to the public by late 2021, the release states.
The new community is to feature three sizes of homesites, offering both single- and two-story homes ranging from 1,850 to 4,200 square feet. The largest homesites will feature all one-story floor plans, with select floor plans offering attached RV garages.
“As a premium lifestyle brand, Maracay is committed to developing carefully crafted homes in the best locations,” Jason Weber, Maracay’s vice president of land acquisitions and development, said in the release. “Today’s homebuyers want more and that’s exactly what we’re giving them at Madera. The architecture will be rooted in Queen Creek’s agrarian history, and select floor plans will feature RV garages, which are becoming a staple among Arizona homebuyers who need that extra space to accommodate their outdoor living needs.”
The Madera community will feature an amenity that includes a swimming pool, bathrooms and other recreational amenities. Bowman Consulting (John Gray) engineered the community and Thomas+Crowley (Craig Crowley) is the landscape architect, the release states.
Go to MaracayHomes.com.