Maracay Homes, a wholly owned company of the TRI Pointe Group, closed on 94 premium homesites in Peoria for a total purchase price of $7.56 million. The 80-acre land parcel, located at 77th Avenue and Pinnacle Peak Road, will be developed into a new, single-family-home neighborhood featuring all single-story homes, ranging from approximately 2,990 to 4,389 square feet. Homes are planned to be built on oversized homesites, ranging from more than a quarter-acre to nearly full-acre lots.
“Homesites at Riverwalk are deep and many back to open space,” says Jason Weber, Maracay Homes’ vice president of land acquisitions and development. “On select homesites, there will be options for detached or attached RV and accessory garages to accommodate boat or RV storage, and larger backyards.”
The gated community is scheduled to begin development in early 2018 with an anticipated open-for-sales date in early 2019.