Shea Homes to deliver 250 homes at Johnson Ranch

By Camelia Bulea, Associate Editor In July, builders nationwide sold new homes at an annualized rate of 372,000, a 3.6 percent gain compared to the 360,000 sold in June and a year-over-year increase of 25.3 percent, according to the U.S. Census Bureau. The report, quoted byCNNMoney, states that existing home sales rose 2.6 percent in July [...]

In July, builders nationwide sold new homes at an annualized rate of 372,000, a 3.6 percent gain compared to the 360,000 sold in June and a year-over-year increase of 25.3 percent, according to the U.S. Census Bureau. The report, quoted byCNNMoney, states that existing home sales rose 2.6 percent in July and adds that building permit issuance also increased.

In response to metropolitan Phoenix’s share of that rising demand, Shea Homes expects to break ground this year on 248 new homes within the Johnson Ranch master-planned community, the Phoenix Business Journal reports. The homes would add to those that the California-based developer has delivered this year in Buckeye, Chandler, Gilbert, Litchfield Park and Peoria.

Located in San Tan Valley, The Ridgeview will include 113 new homes ranging in size from 1,500 to 2,468 square feet. Sizes in the 135-home Hideaway development will vary between 1,831 and 2,690 square feet.

Developed by Sunbelt Holdings, Johnson Ranch incorporates retail and office components as well as an 18-hole championship golf course. In addition to Shea, which will deliver about 250 out of the 6,100 units planned, participating include Calex Homes, Centex Homes, Continental Homes and Richmond American Homes.

Photo rendering of The Belize home at Hideaway, courtesy of Shea Homes