Scottsdale homebuilder buys land to build 1,225 homes in north Phoenix
Oct 9, 2023, 4:05 AM
(Taylor Morrison Homes Photo)
Taylor Morrison Home Corp. (NYSE:TMHC) is moving dirt on a 472-acre master-planned community in north Phoenix that will have 1,225 homes at full build-out.
The Scottsdale-based homebuilder on Oct. 2 closed on the first 193 acres, paying $20.65 million in cash to MacEwen Ranch LLC, according to Tempe-based real estate database Vizzda LLC.
Nate Nathan and David Mullard of Scottsdale-based Nathan & Associates Inc. represented the seller.
“This represents the largest fee title piece of ground in this area not owned by the state,” said Nathan, president and designated broker of Nathan & Associates. “Taylor Morrison spent five years designing and negotiating the current plan. It represents one of the single most important properties in north Phoenix that is not state land. I believe it will become the most desired community in the northeast Valley.”
Tree salvage has commenced, said Brad Schoenberg, Phoenix division president for Taylor Morrison.