Raising Arizona
Scottsdale and Tucson lead the way for the state’s high-end resort developments.
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In response to market demand, Stone Canyon now offers predesigned homes in two neighborhoods: Tuscan Estates (prices start at $1.6 million) and Stonegate (prices start at just under $1 million). Both neighborhoods are already 20 to 25 percent sold out.Pima Canyon Estates is another luxury development in Tucson’s Catalina Foothills, and its 298 one-acre homesites occupy 450 acres. Just north are more than 255,000 acres of protected desert highlands, and within the actual community itself are a botanical garden, hummingbird center, cactus garden and waterfall. Six lots, priced between $1.25 million and $2.25 million, remain. Its sibling project, Stone House, has 48 lots of 230 remaining, with prices ranging from $140,000 to $335,000.
While Tucson is the land of bargains, it is also a city of
extremes. Joining Campbell Cliffs in the city’s top-tier real estate offerings
is Saguaro Ranch. The 1,035-acre development blends old-fashioned elements (a
general store, an organic farm, a horse ranch built and operated on 100-year-old
principles) with ultramodern considerations (a solar farm, a gray-water system,
a network of paths to accommodate Neighborhood Electric Vehicles). Of the 180
residences planned for the community—each parcel encompasses four to five acres,
with 80 percent of the community’s land remaining undeveloped—the first two
phases have mostly sold out and the third phase of 28 parcels will be released
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Tucson’s Saguaro Ranch will leave 80 percent of its
1,035 acres undeveloped. The remaining acreage will include 180 residences, a
116-seat theater, a horse ranch, a 10,000-square-foot spa, three swimming pools,
an art barn, a post office and 25 miles of hiking and biking paths. (Click image to enlarge)
Right now, prices at Saguaro Ranch range between $1.25 million and $3
million, but they may not stay that way for long. "I see our prices doubling
again," predicts CEO Stephen Phinny. "I see our floor being somewhere around
$2.5 million, and we have some parcels that I think we’ll get $5 million for."
In fact, Phinny foresees a time in the not-so-distant future when prices at
Saguaro Ranch will be the highest in the state. "I can’t say that with absolute
certainty," he demurs, "but in terms of a consistent amount of high-priced
properties available, Silverleaf might have one property for $6 million, but
we’ll have 10."
Phoenix
While Scottsdale and Tucson are embracing high-end,
single-family communities, Phoenix has taken the urban road with mid- and
high-rise condominium towers. When it comes to new single-family resort
communities, the city’s three most notable ones—Verrado, Vistancia and
Quintero—are not even within city limits. Verrado is the brainchild of the highly regarded DMB Realty, and it is located a
relatively short distance away in Buckeye. With prices ranging from $300,000 to
roughly $2 million, Verrado looks a lot like its Scottsdale cousin DC Ranch did
in its infancy.
Vistancia’s Blackstone Country Club, meanwhile, calls North Peoria home and includes custom homesites alongside predesigned models. Its first release of 39 lots (priced from $300,000 to $1 million) happened in 2006, and its next release of some 50 parcels is scheduled for late this fall.
Finally, Quintero Golf and Country
Club features courses designed by Rees
Jones and Greg Norman amid its 828 acres near Lake Pleasant in Peoria. At
completion, Quintero will have about 283 custom, semicustom, condominium and
predesigned homes, the last of which are designed by architect Bing Hu. Custom
homesites range from $475,000 to $1.75 million, although resale lots are
available for less.
