ARIZONA NEWS

Landsea plans 90-home gated community on newly purchased Mesa land

Apr 21, 2024, 5:45 AM

Stock photo of a worker hammering at a construction site. A dallas-based homebuilder recently close...

A Dallas-based homebuilder recently purchased 14.5 acres in Mesa to create a 90-home gated community. (Bryan Snider Photo)

(Bryan Snider Photo)

Dallas-based Landsea Homes Corp. (Nasdaq: LSEA) just closed on a 14.5-acre parcel in Mesa, with plans to create a gated community with 90 homes.

Kennedy Lewis Investment Management, as land banker for Landsea Homes, paid $10.58 million cash to an entity tracing to Arcadia Capital Group for the land, according to Tempe-based real estate database Vizzda LLC.

The 90 platted and engineered lots are at the northwest corner of Loop 202 and University Drive, according to Vizzda.

To be called Circlestone, the gated community will include a mix of single-story and two-story floor plans ranging from 1,400 to 2,600 square feet.

Land development will begin next month, with sales expected to begin in June 2025, said Heather Cammiso, Arizona division president for Landsea Homes.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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Landsea plans 90-home gated community on newly purchased Mesa land