2 homebuilders buy 30-plus acres of finished lots in West Valley community

PHOENIX – Two homebuilders recently purchased more than 30 acres of finished lots in the West Valley in separate deals totaling over $18 million.

The buyers, Richmond American Homes and Brightland Homes, obtained the property in the Estrella master-planned community in Goodyear.

“We’re excited to bring these two builders back to Estrella. They’ve been successful here in the past, and we’re thrilled they recognize Estrella as the terrific community it is,” Jeff Zimmerman, director of entitlements and development for Estrella Development Company, said in a press release Wednesday.

Estrella North LLC was the seller in deals, which were facilitated by Land Advisors Organization.

Brightland Home bought 15.24 acres on the northeast corner of Estrella Parkway and Cotton Lane for $10.1 million. The price breaks down to $174,000 per lot, or about $662,000 per acre, according to the release.

Richmond American Homes paid $8.6 million for 15.66 acres nearby. That comes out to $141,000 per lot, or $549,200 per acre.

How large is the Estrella community in Goodyear?

Estrella, a 20,000-acre master-planned community about 25 miles west of downtown Phoenix, is home to more than 8,000 families.

The community has over 500 acres of open space, with more than 50 parks, 65 miles of paths and trails and 72 acres of lakes, according to the release.

“Estrella is poised to be one of the top-selling master-planned communities not only in Arizona, but in the U.S.,” Land Advisors CEO Greg Vogel said in the release. “All the elements of success are in place.”

Follow @kstonezone