“The area is emerging as a jobs corridor,” says the seller of the lots in The Village at Barnett. DR Horton is the buyer.
DR Horton has bought the remaining 146 lots in The Village at Barnett in Marana for $5 million.
“Demand for new housing in north Marana continues to grow, which is quickly depleting the number of new buildable communities,” said Randy Bury, founder and president of Moderne Communities, who sold the lots. “The area is emerging as a jobs corridor with its easy access to I-10.
“I expect this sub-market to continue to be strong as interest rates remain low and people keep moving here for our warm weather and outdoor lifestyle.”
The homebuilder bought the first 105 lots, at Barnett and Sanders roads, from Bury last year.
Bury began investing in the area in 2011 and previously partnered with Soundview Real Estate Partners on the purchase of three commercial parcels near The Village at Barnett. In 2016, Bury originally purchased 70 acres in north Marana, which included lots for as many as 280 new homes. North Marana now has the infrastructure, as well as plats that are fully approved, allowing homebuilders to immediately proceed to developing lots.
The sale to DR Horton was handled by Will White and John Carroll, of Land Advisors Organization in Tucson.
Bury also holds approximately 800 acres that includes 2,500 lots as part of the master plan community project Sanders Grove, about half-mile north of The Village at Barnett lots.