With excavation and construction scheduled for early December, anticipation is growing for new homesites at the Estrella village of Montecito.
Earlier this month we announced the sale of 508 homesites in the Montecito village to national homebuilders Richmond American Homes and Lennar. The recent homesite purchases closed on Sept. 30.
The Montecito sale continues the momentum at Estrella after the purchase of 211 homesites in the village of Lucero in early 2024 by Brightland Homes and Richmond American Homes. Those models are set to open in early 2025.
With the successful sale of 719 homesites within the vibrant villages of Lucero and Montecito, Estrella is flourishing and attracting attention locally and nationally.
The Lambda Alpha International (LAI) Phoenix Chapter hosted the 2024 Land Economics Phoenix Gathering October 16-18. It was attended by 95 national and international LAI members. One of the topics was the booming West Valley.
Attendees filled two buses; first up was a lunch discussion at Estrella. Featured speakers were Tim Brislin, President of Harvard Investments, managing partner of Estrella, and Jeff Zimmerman, Vice President of Development for Estrella Development Company. Moderating the panel was Greg Vogel, CEO of Land Advisors Organization.
“The market has come to Estrella, or very close,” Jeff shared with the LAI attendees. “With national homebuilders coming, we have a lot to sell here. The market is on our doorstep. Estrella has become a hot place to live.”
A few weeks later, Valley Partnership’s October Friday Morning Breakfast featured a conversation about trends in residential housing and master-planned communities. Jeff was joined on the panel by Greg Abrams, Vice President of Land Acquisition, PulteGroup; and Jeff Gunderson, Senior Vice President of Land Acquisition, Lennar.
The panelists discussed how builders are revamping their marketing directives and adjusting their buyer profiles based on who’s buying and where that demand is across the Valley.
Estrella and Harvard Investments sponsored a table.
