Tuesday, March 25, 2014

KB Homes Purchases Chandler Site Planned for 135 homes

VIZZDA-3/25/14 – KB Homes closed on 23.5231 acre (net) site for $5,440,250 or $5.30 per SF / $231,273 per Acre. The property is presently agricultural/raw land and was recently granted a final plat as “Fire Rock Ranch”, approved by Chandler Council 3/13/2014.
Located at the Northwest Corner of Gilbert Rd & Chandler Blvd

The plat provides for 135 lots, with 4.24 acres of open space, reflecting 5.74 DU/AC - consisting of:
  • 28 lots - 58'x120' 
  • 18 lots - 55'x120’ 
  • 89 “Court” lots - (40' min.)

The project submittal has seven different floor plans, comprised of four two-story and three one-story, ranging from 1,678 SF to 3,165 SF. The “Court” or cluster product features four floor plans, all two-story, ranging from 1,966 to 2,845 sf.

Mr. Robert Lyles of Starpointe Communities (also with Deco Communities) was the seller. The site was previously known as “Norton’s Crossing” and had been planned in 2008 for 46,670 SF retail with a Grocer Anchor on 7.67 acres + 286 units density residential in 18 buildings on 15.85 acres.


Hadden Schiffman
Managing Director

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