Scottsdale Developer plans to build more than 10,000 new homes in Apache Junction AZ

Land & New Construction
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Scottsdale Developer plans to build more than 10,000 new homes in Apache Junction AZ

Account Closed
Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes

Well, maybe building is starting to pick up agan.

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The first of 5,000 new homes in Blossom Rock at Superstition Vistas will start selling next year on a swath of a 275-square-mile site expected to transform the southeast Valley.

Brookfield Residential, which bought 1,400 acres of the vast Arizona State Land parcel called Superstition Vistas, has lined up four other homebuilders for the start of its development.

The metro Phoenix homes, south of the Superstition mountains and freeway, will likely sell for $500,000 and higher. Exact prices are not expected to be set until next year.

Blossom Rock is going up next to Radiance at Superstition Vistas, which is being developed by homebuilder D.R. Horton on another 1,400 acres and will also have 5,000 new homes. The two builders partnered to buy 2,800 acres of state land for $245.5 million in 2020.

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Barry Ruby
Developer · Boulder, CO · Member since 2018 · 530 posts · 365 votes
3y

@Mike Hern

Hopefully the developers that build real homes have access to real wet water rather than water rights…I heard a short while ago that water was an issue in this market.

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  • Scott E.
    Contractor · Scottsdale, AZ · Member since 2010 · 2k+ posts · 3k+ votes
    3y

    I cannot imagine spending $500,000+ to live all the way out there.

    1Reply
  • Matt Greer
    Real Estate Agent · Mesa, AZ · Member since 2017 · 231 posts · 169 votes
    3y

    I was wondering when they were going to build. I was out there on that land and a game warden approached me to tell me the state sold the land

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  • Colleen F.Pro Member
    Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
    3y

    @Account Closed They sold a while ago and have been talking about developing it but moving slow.  I believe they plan to put in some commercial as well because well the restaurants and other services would have to catch up with the housing clientele.  The BLM is also proposing Goldfield recreation area to get rid of the homeless encampments.  I didn't see any activity when we were out last in that area in June and we are at the base of superstitions so we pass it. There is a fair amount of smaller scale building on in fill lots on the mountain side of 60. Some are spec homes and yes they go for over 500k. Those are buying the view. Not sure what kind of view the new houses will have from that location.   

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  • Account Closed
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    Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
    3y
    Quote from @Colleen F.:

    @Account Closed They sold a while ago and have been talking about developing it but moving slow.  I believe they plan to put in some commercial as well because well the restaurants and other services would have to catch up with the housing clientele.  The BLM is also proposing Goldfield recreation area to get rid of the homeless encampments.  I didn't see any activity when we were out last in that area in June and we are at the base of superstitions so we pass it. There is a fair amount of smaller scale building on in fill lots on the mountain side of 60. Some are spec homes and yes they go for over 500k. Those are buying the view. Not sure what kind of view the new houses will have from that location.   

    I have a couple of rentals in that area. It's pretty raw to be sure. The Superstitions are cool though and there are wild mustangs and bobcats and the occasional mountain lion. I'm just not sure where they will get the water. Maybe we should divert the Columbia River from WA & OR to  Arizona. They just let the river run out into the ocean. 
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  • Scott Mac
    Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
    3y

    Over how many years is the key question.

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  • Barry Ruby
    Developer · Boulder, CO · Member since 2018 · 530 posts · 365 votes
    3y

    @Mike Hern

    Hopefully the developers that build real homes have access to real wet water rather than water rights…I heard a short while ago that water was an issue in this market.

    1Reply
  • Account Closed
    OP
    Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
    3y
    Quote from @Barry Ruby:

    @Mike Hern

    Hopefully the developers that build real homes have access to real wet water rather than water rights…I heard a short while ago that water was an issue in this market.

    It can get a little dry here. There is a lot of water in the water table but recharging it takes time and rain.
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  • Colleen F.Pro Member
    Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
    3y

    @Account Closed We lived in Laveen in the late 1980s it was farm fields between us and phoenix. That entire area is houses now and we thought they wouldn't have enough water then but they did it.   

    Now Apache Junction I think will take more doing. I  don't think AJ has strong infrastructure for development. AZ water company is ground water wells. If the new development would be serviced by them not sure it is the kind of area where digging more wells help.  AZ water just went electronic bills like 3 years ago so they are slow moving on even the simple stuff.  Roads like 60 also need improvements to support that kind of development. Might help if they cut some of the flood irrigation areas but I am not sure how you would do that.

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