PHOENIX-New Leaf Communities—headed up by Steven Pritulsky and Paul Timm – has collaborated with Southern California-based builder Watt Communities to seek out, and develop, townhomes on infill sites. So far, the partners, operating under the name Watt Communities of Arizona, have closed on two infill sites, one in the Biltmore area and the other in Tempe, AZ, with plans to break ground on both projects during Q1 2014.
The sites in question, previously owned by New Leaf, were recently acquired by the new venture. The 1.7-acre "Biltmore" project site is less than a miles south of 24th Street and Camelback Road. The plans call for 29 units on the site. Plans are also underway on three acres in Tempe, known as the "Dorsey" project because of its proximity to the mixed-use Dorsey Crossing. The 54-unit project is south of Broadway Road and Dorsey Lane.
Both properties will consist of three-story urban townhomes ranging in size from 1,400 to 1,800 square feet, and each with its own two-car garage. Community amenities will include gated entry, pool/ramada/sundeck, outdoor poolside kitchen and landscaped paseos throughout. Pricing for the new projects will be released as the developments near completion.
“We are firm believers in the power of local industry expertise. It is one of the best ways to understand the direction and needs of a market,” says Watt Communities president Howard Press. “New Leaf brings that expertise to this joint venture and Watt, in turn, brings deep-rooted success in urban residential infill development. The combination will allow us to acquire land and build wisely and precisely, according to what metro Phoenix homebuyers are seeking.”
In addition to planning for the Dorsey and Biltmore sites, the JV is examining other potential infill sites in the region as well. According to Timm, New Leaf's COO, the desired locations offer urban amenities within employment cores. Adds New Leaf president and CEO Pritulsky: “We anticipate a pipeline of Watt-New Leaf deals that will take advantage of some very unique land positions in Metro Phoenix and bring new, quality living options and innovative product designs into our urban cores. We are thrilled to have Watt as a partner.”
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