Friday, May 2, 2014

Taylor Morrison Acquires ~40 Acres in North Scottsdale for $2.8m

By: Paul Dionne |

Scottsdale-based homebuilder, Taylor Morrison, has acquired two contiguous parcels totaling 39.84 gross acres in North Scottsdale for $2.8m or $1.61 per square foot. The vacant land--for which a preliminary plat was submitted on January 24th, 2014--is located north of the northwest corner of Pima Road and Westland Drive. Vizzda reported Taylor Morrison's acquisition of a nearby parcel early last year at a much higher basis.

The preliminary plat for Andaluza calls for the development of thirty-three single family home sites ranging in size from 26,250 to 53,112 square feet for a density ratio of 0.8 density units per acre. The eastern 115'  of the property as well as incidental space within the development--totaling 15.26 acres or 38.3% of the total area--will be preserved as Natural Area Open Space (NAOS).

To execute on the preliminary plat, Taylor Morrison is concurrently re-zoning the property from 39.84 acres zoned R1-190 to 21.90 acres of R1-43 and 13.46 acres of R1-35, with the NAOS remaining R1-190. The R1-43 parcel will hold nineteen lots with a minimum area of 32,250 and the R1-35 parcel will hold fourteen lots with a minimum area of 26,250. Both lot types require 30' front, 30' rear and 15' side setbacks.

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