The former General Motors Proving Ground in Southeast Mesa, Eastmark, is finally getting underway. This area is currently viewed as one of the best development sites in the region, as the Phoenix-Gateway airport lies to the West and is easily accessible to the rest of the Valley through the Loop 202 Red Mountain Freeway.
DMB Associates, a Scottsdale based developer who developed the Verrado community in Buckeye, purchased five square miles of the old proving ground in 2006 but had to wait to develop the property in light of the market crash. Now, both AV Homes of Scottsdale and JEN Partners LLC of New York City announced plans to purchase a combined 527 acres of the DMB developed land.
AV Homes plans to build a 1,000-home active adult community on 310 acres under their Vitalia Homes community. Vitalia Homes is established in both Florida and Arizona, and built the CantaMia active adult community in the Phoenix area.
JEN Partners LLC is developing 550 lots on their 217 acres, of which they plan to sell to luxury home builders.
DMB Associates’ plans include development of 700 lots on the site, and other home builders have announced that they hope to have homes for sale starting in May of 2013. The luxury resort plans for the North section of the parcel has largely fallen through, and the First Solar factory built also largely remains idle due to the economy.
However, the City of Mesa has since approved two developments on the site which were being purchased by a Scottsdale based Harvard Investments. The developments total 590 acres.
For more information regarding new developments happening around the Valley, contact The McKinley Group today!
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