Maracay Homes as New Owners of Chandler Parcels

Builder in Arizona now the owner of a huge parcel of land.

[USPRwire, Tue Jan 24 2017] Maracay Homes, an Arizona-based builder, is now the new owner of a 36-acre East Valley land.

JEN Partners, a New York-based landowner, puts the large property for sale with a price tag of $9 million.

According to reports, the large property located at Chandler and Copper roads is huge enough for constructing around 84 properties. This number is an estimate according to Maracay executives.

Maracay Homes stated their plans of building a gated community housing single-family homes on the newly acquired lot.

Maracay Homes vice president, Tom Lemon, reported that the projected property sizes are around 2,900 to 3,800 square feet and could be available by January 2017 in the market.

Lemon added that the new land is among the huge parcels found in Chandler and almost considered as infill. The purchased parcel is also said to be a fitting location for building premium and attractive neighborhoods the developer is known for.

JEN Partners is known for having numerous lands across the country like in Texas, Florida, and Arizona, where the recently purchased land is located. Due to its owned properties, the landowner has established an investment profile worth over $2 billion.