Real Estate History in Val Vista Lakes, in Gilbert Arizona. The tropical water wonderland of Val Vista Lakes was not always what visitors & residents see when they drive thru the shady, tree-lined streets. Once upon a time, not all that long ago, actually, the land was a sheep farm. Then, in the early 1980's, a group of land developers had the grand idea to plan out and build what would become the marvelous lake-based community we know as Val Vista Lakes. These guys had been successful as mini-farm subdividers, and this venture would take them in a new direction. Val Vista Lakes would be a larger community than they had tackled before, but it would also feature a huge clubhouse, and several man-made lakes. The water rights were negotiated with the Salt River Project, and construction began around 1984. Lakes & clubhouse first, and then the various builders began their model homes. Val Vista Lakes was coming to life!
The first homes were completed in 1986, and residents arrived right away. Coming mainly from California and the midwest, these residents enjoyed the flavor here - no desert landscaping, and plenty of "Santa Barbara meets Newport Beach" styling. Advertising was always easy for the developers before, but now they were feeling the challenge of a slowing market, thanks to effects the 1986 tax reform act. Instead of large print ads, they brought in musical attractions, namely The Righteous Brothers & The Beach Boys. Spinnaker Bay Park was transformed into a very "cool" place for a few magical events, and people came out in droves. The concerts worked to get the word out, and sales remained brisk. Families loved the sandy beach lagoon, the indoor racketball courts, the tennis courts, and the idea that they were fully vested owners in a 32,000 sq ft clubhouse that doubled as a wedding reception hall. Times were good in Val Vista Lakes!
Next to come... The RTC days