Georgia-based home builder Ashton Woods has purchased about 150 acres of land directly south of the Ak-Chin Circle entertainment center for $ 17.7 million and will build about 600 homes on the site. The project, known as Amarillo Creek, was originally intended to be developed by Shea Homes, who sold it to a Canadian investor in 2007 when property values ââfell during the Great Recession.
The plot lies between Peters and Nall Road to the north, Papago Road to the south, Green Road to the east and Amarillo Valley Road to the west.
The lots were partially improved, according to Ben Heglie, a real estate broker with the Land Advisors Organization of Scottsdale, who was part of the team representing the Canadian seller known as Zen Arizona.
âThe lots are leveled, underground utilities are installed and some of the road improvements have been completed along Papago,â Heglie said. âAbout a third of the improvements were made by Shea. This was the last partially completed lot transaction in the city.
Ashton Woods did not respond to multiple requests for comment on the project, but Heglie said he believes community development will begin soon.
âAshton Woods has already started to complete the improvements on the lots,â said Heglie. âThese are expected to be completed in the first quarter of next year, and construction on the houses will begin immediately after that. I think they are hoping for sales at the end of 2022.
Heglie believes there will be a significant push for development in the south of the city now that Global Water’s southwest plant in Papago and Green Roads is due to be upgraded and commissioned. It was originally scheduled to enter service in 2007, but like Amarillo Creek, the plant launch fell victim to the recession.
âThe builders started working on the subdivisions there, so we had to get our infrastructure built and ready to go,â said Jon Corwin, vice president and general manager of Global Water. âThen obviously the Great Recession hit, and the developers left, and we built this factory and never turned it on. So we’re going through a recommissioning process.
The Global Water facility includes both drinking water distribution facilities and sanitation facilities that have been commissioned but never commissioned.
âThe Ashton Woods deal was a catalyst in getting Global Water’s southwest plant up and running,â Heglie said. âIt needed a few upgrades and other improvements that weren’t done in the last cycle and the deal with Ashton Woods prompted them to start this plant. “
Heglie believes Ashton Woods, who is also building in Tortosa, will complete his projects there and then turn his full attention to Amarillo Creek.
âMy main takeaway from this deal is that this will be the first of many builders to enter this area south of the city now that Global will have service in the area,â Heglie said.