Lennar Joins Heritage, Richmond as Builders in Tucson's La Estancia
We recently reported on Meritage and Richmond purchasing lots in South Tucson’s master-planned community La Estancia to keep up with buyer demand. According to Real Estate Daily News, Lennar is joining the mix, buying 112 lots in what is anticipated to be a major contender on the market in 2018 and 2019.
Resizing the lots from 65 feet wide down to 45 feet, Lennar paid a total of $6.16 million, amounting to $55,000 per lot. Bob Bambauer, Senior Vice President at Sunbelt Holdings, told the Daily News that Lennar will focus on the southern portion of the site and be able to offer “a variety of lot sizes ready for development throughout 2018 and beyond.”
The 556-acre community plans to market its homes to buyers employed on the southeast as well as those working in the heart of Tucson for the city’s biggest employers. Amenities will include a community pool, splash pad, and play structures, with plans for a future sports field.
Lennar currently has three other developments in the Tucson area. Robb Hill Estates in East Tucson has homes ranging from 1,870 to 3.006 square feet with prices starting in the mid $200,000s. Discovery at Mountain Vail near Rita Ranch has homes ranging between 1,800 and 2,903 square feet with prices starting in the low 400,000s. Eagles Summit at Vistoso in Oro Valley has homes ranging between 2,594 and 3,173 square feet with prices starting in the high $300,000s.