Maracay Homes (which is owned by TRI Pointe Group) closed on a $31 million land purchase at The Meadows, a master-planned community located in Peoria, Ariz.. The home builder closed on another $17 million purchase just 15 months ago at the same location.
Camino A Lago, LLC, an entity controlled by Communities Southwest Management, Inc., sold the two parcels totaling 142 acres to Maracay Homes, which plans to develop 299 homesites at the northwest corner of Deer Valley Road and 91st Avenue. This acquisition adds to the 173 homesites Maracay currently is developing at The Meadows as part of the neighborhood’s first phase. Maracay began constructing model homes at The Meadows earlier this month and will open for sales on the first phase in September. The two newer parcels will be in development through the end of the year.
Maracay says it large sites at The Meadows will offer home buyers room for detached or attached accessory garages to accommodate boat or RV storage, more elbow room between homes, and large backyards for family fun. Eight single-story floor plans range from approximately 2,500 to more than 4,500 square feet and include FlexDesign® selections for customization. Luxurious appointments, including indoor/outdoor fireplaces, six-foot-long free-standing bath tubs, corner sliding glass doors, and more, are available, depending on the plan. All homes are supplied with natural gas, are Energy Star® certified, and include Maracay Homes’ LivingSmart® program for high performance and cost efficiency.