By Land Advisors Organization
Land Advisors Organization’s Metro Phoenix Homebuilding team announced the closing of a land sale in the West Valley of Metro Phoenix on behalf of Empire Village at Paseo de Luces, LLC, The Empire Group of Companies. The sale fetched $7.8M for 21 acres, which will be developed into a single-family build-to-rent community. It will be the fourth such development in the West Valley for The Empire Group of Companies.
The project, Village at Paseo de Luces, is planned for approximately 272 units at the E-NEC of 99th Avenue and Van Buren Street in Tolleson. The Empire Group of Companies plans to offer single-family rental homes ranging in size from +/-700SF to 1,300SF in one-, two- and three-bedroom floorplans. Land Advisors Organization’s homebuilding team of Bret Rinehart and Ryan Semro represented the buyer in the transaction.
The Empire Group intends to break ground shortly and expects approximately 12 months for construction of the project. The Empire Group of Companies has developed a trio of single-family build-for-rent communities in the West Valley – Village Harvard Crossing in Goodyear; Village Pioneer Park in Peoria; and Village Olive Marketplace in Glendale.
Land Advisors Organization’s Metro Phoenix homebuilding team facilitates sales on behalf of landowners with virtually every major home builder in the market. The team specializes in home builder developments, multifamily communities and master-planned communities throughout Arizona. (Source)