The Gilbert, AZ portion of the site comprises a total of 332 pre-platted homesites acquired from four separate sellers.
GILBERT, AZ—Homebuilder Maracay has closed on the purchase of 115 acres of land here that will eventually be part of a master-planned community that will span 236 acres between the communities of Gilbert and Chandler, AZ here.
The Scottsdale, AZ-based firm acquired the 115-acre parcel for $31.6-million and follows up a buy earlier this year of an adjoining 41 acres in Gilbert. Maracay officials say the firm intends to close on the third and last land purchase of 80 acres and 240 homesites in Chandler in early 2019, bringing the total to 572 homesites. The large-scale master-planned community is expected to open in 2020.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
