Developers of a master-planned community on the city’s southeast side have landed their first homebuilder.
Meritage Homes bought 195 lots in La Estancia development and is already moving dirt in anticipation of having models ready early next year.
La Estancia, a 565-acre site located near Wilmot Road, north of Interstate 10, is being developed by Scottsdale-based Sunbelt Holdings.
When the site is built out, developers hope to have 2,500 homes there as well as a community pool, kids’ splash pad, covered ramada and picnic tables.
“We are proud to add La Estancia to our existing collection of Tucson communities,” said Jeff Grobstein, regional manager for Meritage Homes. “We were drawn to the La Estancia community because of its centralized and accessible location, thoughtful land plan, and distinctive design.”
Of the 195 lots, bought for $2.2 million, 115 will be 45 by 110 feet and 80 will be 50 by 110 feet. A price range for the future homes has not been established.
“It is exciting to bring such a high-quality builder to the community and we appreciate all the efforts of the city of Tucson’s development services team who were instrumental in the transaction,” said Sean Walters, chief operating officer for Sunbelt Holdings.
The southeast corridor stretching to Vail has been active because of retail draws such as Costco at the Bridges, the new Walmart at Houghton and Mary Ann Cleveland, and the widening project along Houghton Road.
“It’s a big deal for many reasons,” said land broker Will White, of Land Advisors Organization. “I can’t remember the last time a master-planned community was started from scratch in the city limits.”
Demand for housing along the I-10 corridor is strong because of the convenience for workers from Raytheon Missile Systems, University of Arizona Tech Park, Davis-Monthan Air Force Base, Tucson International Airport and the South Wilmot Road prisons.
“It’s nice to see that corridor being built out,” White said. “There’s more housing, more retail and it’s in the Vail School District. … It checks all the boxes for homebuyers.”
