Land development has begun at Shea Homes’ new 75.3-acre site southeast of Phoenix in Gilbert, Ariz.
Shea Homes purchased the site for $16 million from Atlas Development II in a deal that was announced last month. The Walnut, Calif.-based builder plans to build three new communities on the property totaling 383 homes. Homes will range in size from approximately 1,723 to 3,351 square feet while pricing has yet to be determined.
Home construction will start in May 2017 and the first sales will take place in September 2017.
“Shea Homes is excited to announce our latest Gilbert project,” said Ken Peterson, vice president of sales and marketing for Shea Homes Arizona, in a release. “Our three new communities [on the corner] of Ray (Road) and Recker (Road) will offer a variety of floorplans, including one and two-story homes and the popular Shea3D YourPlans that give families the ability to choose a floorplan that best suits their lifestyle – whether it is kitchen-centric, entertainment-centric, or outdoor-centric.”
The company has been building in the Phoenix metro area since 1989. Over that time it’s built more that 25,000 homes there. According to Metrostudy, Shea Homes held about 5% of the area’s home-builder market share in 2015.
