New-Mexico based Price Land & Development Group has purchased a 10-acre parcel of the 6,500-acre Mariposa master-planned community from Arizona-based Harvard Investments. The local developer plans to deliver 41 new home lots for two local home builders.

The purchase price and prospective builders for the upcoming Jemez Vista neighborhood were not immediately disclosed. Homes in Mariposa range from about 1,500 to about 4,500 square feet in size and range in price from the low $200,000s to the $400,000s.

“Mariposa is a premier community in this region, and has been gaining increased attention for its balance of wide open spaces and connected, fully amenitized living,” said Garret Price, president of Price Land & Development, in a release. “Given Mariposa’s sophistication and consumer-oriented attributes, we felt confident that Jemez Vista is the perfect first investment and sets the standard for our future partnerships.”

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