Condo firm branches to one-family home sites - East Valley Tribune: Business

Condo firm branches to one-family home sites

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Posted: Sunday, September 9, 2007 1:41 pm | Updated: 8:01 pm, Fri Oct 7, 2011.

A local condominium developer is branching out with plans to build its first single-family home subdivision in Scottsdale.

Starpointe Communities will begin construction later this year on 20 semi-custom houses on nearly 7 acres of land recently purchased at 76th Street and San Miguel Avenue.

Its latest project, Topaz, will have single- and two-story homes ranging from 2,800 to 4,700 square feet. Prices haven’t been set yet, but sales are expected to begin early next year.

The company often caters to move-down buyers but saw an opportunity to move into a niche market, spokeswoman Summer Morgan said. There’s nothing similar to this in central Scottsdale, Morgan said.

The homes will have a southwestern design, with some offering small guest houses called casitas.

Starpointe will continue focusing on condos but also will keep looking for chances to diversify, she said.

“This was an awesome opportunity,” she said.

Cave Creek

Two Phoenix-based companies joined last month to buy The Village at Surrey Hills, a town house project in Cave Creek.

Construction has already started on model homes at the 45-unit development, which sits on the southwest corner of Surrey Hills Drive and Cave Creek Road.

Cole Companies and Niche Residential paid $11.5 million for the property.

Home prices are expected to start in the mid-$700,000s, and models are scheduled to open in November.

Chandler

A Scottsdale-based builder has launched its third luxury home development in Chandler.

The Camelot Homes project, the Harmony Series, will have 49 sites. The development is located within the larger Windward at Ocotillo master-planned community at Alma School and Ocotillo roads.

Camelot has also developed high-end homes at Silverleaf in Scottsdale’s exclusive DC Ranch master-planned community.

Houses will range in size from 2,500 to 3,800 square feet and cost from the low-$500,000s to mid-$700,000s.

Tempe Place

The East Valley’s condominium market is also continuing to grow.

Developer Jorn Homes broke ground last week on Tempe Place, a low-rise project that will have 65 residential units and 20 commercial spaces. Located near Baseline Road and Priest Drive, the project will consist of four buildings. Condos will range in size from 1,002 to 2,800 square feet and cost from $319,900 to $960,000.

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