On Saturday, Taylor Morrison is scheduled to open its largest community yet. The Scottsdale, Ariz.-based builder will start selling at Adora Trails, an amenity-rich 586-acre master-planned community at the foot of the Santan Mountains in Gilbert, Ariz., that when completed over the next 12 years or so will include more than 1,800 single-family homes.
Taylor Morrison acquired this foreclosed property from a bank. About 200 home sites were already developed (or nearly so) by its previous owner, and these are what Taylor Morrison will market first, according to Pierrette Tierney, vice president of sales and marketing for the builder’s Arizona division. It’s offering move-in ready coupons worth up to $2,500 to be used by buyers to complete these houses.
Taylor Morrison Communities, the builder’s development arm, is developing the rest of Adora Trails in 17 phases. The community will include a 4,000-square-foot clubhouse, a 4-acre lake stocked with fish, 12 miles of walking trails, a “resort-style” pool, an elementary school, and a number of sports courts and fields within a 10-acre recreational area.
Gilbert has become a town of interest for a number of builders lately. That’s where Meritage Homes launched what it’s been calling “the nation’s most energy-efficient production home community,” Lyons Gate, whose homes feature solar energy systems supplied by PVT Solar.
Tierney notes that Gilbert’s economy has been rebounding, and “we’re pretty positive about permit activity and land purchases.” She also points out that most of the housing that’s been available in Gilbert until recently has been “patio homes or homes with zero lot lines.”
Adora Trails offers 14 house plans ranging from 1,328 to 3,543 square feet with three-to-five bedrooms, and from $145,990 to $229,990. “We’re marketing it as a lifestyle master plan,” with shopping close by, says Tierney. She notes, though, that over the course of the buildout, Taylor Morrison might sell some developed lots to other builders.
Tierney adds that marketing efforts would also focus on local real estate agents. Before the grand opening, Taylor Morrison held an event at the community site for real estate agents. And Adora Trails has already generated interest from Canadian prospects, partly because of a local real estate agent that targets Canadian home buyers.
This summer, Taylor Morrison acquired 440 acres with nearly 1,200 home sites within Crystal Falls, the best-selling master plan in Austin, Texas. Tierney says it’s just a coincidence that the company has made such large purchases within a few months of each other, and that the company’s land acquisition is decentralized. But she also notes that unlike some big-builder competitors that have been buying finished lots primarily, Taylor Morrison isn’t afraid to take on raw land because it has a development company. Consequently, the company says it has been able to negotiate lower prices for land deals.
John Caulfield is senior editor for BUILDER magazine.
Learn more about markets featured in this article: Phoenix, AZ.