"Our acquisition strategy has been focused on securing new community assets in outstanding locations to drive incremental home closings and better returns," said John Chadwick, president of PulteGroup's Arizona Division.
As the high tech oasis of the "Silicon Desert" and one of the fastest growing urban areas in the nation, Chadwick
said the South Chandler communities are in strong demand and ideally located close to freeways, employment, shopping and entertainment.
Sales of existing homes in Southeast Valley submarkets have increased over the last two years, with the greatest increase (18 percent) in the South Chandler Submarket between 2010 and 2011, according to Phoenix MLS data.
"The South Chandler area has a very limited amount of future residential lots and we expect to see strong demand for these very desirable in-fill locations," Chadwick
New Community Acquisition Highlights:
The Waters at Ocotillo - Located near Dobson Road, just south of Queen Creek Road, this 96-unit community provides Pulte Homes
an outstanding opportunity to showcase its move-up product in a unique community in the Ocotillo master plan.
was selected from a group of interested buyers based on its reputation for quality and demonstrated experience in bringing move-up product to the marketplace, Chadwick
said Hamilton Heights will offer a unique niche by offering larger homes with ample backyards in a submarket that is seeing increasing demand and dwindling supply.
expects to close on the property in the fourth quarter of this year, begin land development shortly thereafter, and open new model homes in late 2013.
"We've been watching the market closely and working to secure the best opportunities to expand our presence in the Southeast Valley," Chadwick
said, adding that the company is looking in other premium locations in Chandler, Gilbert, Mesa, Phoenix and north Peoria.