Maracay Homes is making some big moves in the Phoenix markets as it is currently building 173 new homes and will close on land for another 299 home sites at the Meadows development in Peoria, Ariz., reports Phoenix Business Journal staffer Mike Sunnucks.

Maracay’s plans are the largest investment in Peoria by home builder since the recession, according to a company spokesman, who said the real estate deals for all 472 lots total $48 million.

Homes will range between 2,500 and 4,500 square feet and are priced starting in the $400,000s, according to Scottsdale, Ariz.-based Maracay.

The project is part of the Camino a Lago master-planned development, which was approved early in the last decade but has seen increasing building during the past year as the economy has accelerated.

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