Toll Brothers AZ Construction Co. Inc. has acquired an 80+ acre land assemblage in Scottsdale, Arizona, which is slated to become a 51-lot gated luxury home community called Boulder Ranch Estates.
Toll Brothers acquired the land in two cash transactions totaling $12.2 million. The builder acquired the first 40+ acres from owner Lettiville Park Partners for $6.695 million, and another 40+ on the same road from Red Bird Vistas for $5.5 million. The sale was brokered for both transitions by the Land Advisors Organization’s Scottsdale team.
The preliminary plan calls for home sites ranging in size from .76 to 3.4 acres, on which Toll Brothers intends to build homes ranging from 3,500 square feet to over 6,000 square feet in size. Tentative base pricing will range from $1.1 million to $1.5 million. Model homes are expected to open by July 2019.
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