Lot Banking Partnership Formed for "Catania" Development in Glendale

Area Map

79 platted lots for the new housing development "Catania" sold to DW Partners Friday from homebuilders K Hovnanian Homes for just over $2 million. An option agreement for all 79 lots recorded with the sale, listing K Hovnanian as homebuilder. The agreement expires late 2018. K Hovnanian previously purchased the land just a month prior to this sale.

Catania is a planned residential development at the southeast corner of 87th and Glendale Avenues, with minimum lot dimensions of forty-seven by one hundred feet.

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52.8-Acre Phase Three of Morrison Ranch Conveys

Subject Property Loacted West of the Southwest Corner of Sossaman & Guadalupe

Phase Three of Desert Place at Morrison Ranch, a 199-lot project in Mesa, sold yesterday in two sales. Pulte Homes purchased 50 lots, while Lennar purchased 149. After the sale, Lennar optioned 57 lots of their purchase to Ashton Woods. Morrison Ranch was the seller in these sales, and is the master developer of the 52.80-acre project.

Pulte Homes purchased their portion of the platted and engineered lots for $2,225,213 or $44,504 per lot. Lennar acquired their lots for $6,570,407 or $44,096 per lot. 

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