AZ Real Estate 02-12-2017

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WWW.AZCENTRAL.COM

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E M A I L U S AT N E W S T I P S @ A R I Z O N A R E P U B L I C . C O M O R C A L L U S AT 6 0 2 - 4 4 4 - N E W S ( 6 3 9 7 )

CATHERINE REAGOR REAL ESTATE

New homes sprout at fringes of Metro Phoenix

M

etro Phoenix’s edges are getting stretched with new-home developments again. It’s been awhile since we have grown out with big communities instead of in with smaller infill sites. But recent deals for big swaths of land are spreading the Valley farther north toward Lake Pleasant, past the White Tank Mountains in the west and farther

south towards Tucson. Last week, a group paid $35 millionfor almost 1,100 acres in the planned Lake Pleasant Heights property in Peoria. Plans call for 2,800 houses in the development, said broker Mike Schwab of Land Advisors Organization. » Last fall, a California investor paid $80 million for more than 10,000 acres in the Tartesso development, west of the White Tank Mountains. The Buckeye

community could sprout nearly 40,000 new homes, according to brokerage Nathan & Associates. » In September, one of Arizona’s biggest landowners, El Dorado Holdings bought 1,100 acres in the Bella Vista Farms development near Florence for $38.4 million. Several small deals for land farther out have also closed, and some bigger ones are in the works as builders run out

of home lots closer in.

Communities getting reboot These far-flung Valley communities, where investors and developers are now spending big dollars to buy, aren’t new. They are developments that stalled See REAGOR, Page 3R

YOURS FOR

$250 MILLION

LA mansion includes full-time staff, fleet of cars AMANDA LEE MYERS ASSOCIATED PRESS

LOS ANGELES - At $250 million, a new mega mansion in the exclusive Bel Air neighborhood of Los Angeles is the most expensive home listed in the United States. The passion project of developer and handbag tycoon Bruce Makowsky, the fourlevel, 38,000-square-foot mansion built on spec includes 12 bedroom suites, 21 bathrooms, five bars, three gourmet kitchens, a spa and an 85-foot infinity swimming pool with stunning views of Los Angeles. There’s also a 40-seat movie theater, a bowling alley, and a fleet of exotic and vintage cars worth $30 million. According to Makowksy, only 3,000 people in the world could afford to buy it. See MANSION, Page 3R

PHOTOS BY JAE C. HONG/AP

An outdoor dining area is next to an 85-foot infinity swimming pool overlooking the city at a $250 million mansion in the Bel-Air area of Los Angeles. The new mansion is the most expensive home listed in the United States.

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SHEA CORRIDOR LUXURY. Exquisitely finished with MLS# - 5461959 beautiful view windows, high ceilings, tremendous Travertine, Bedrooms - 5 thick granites, and plantation shutters. Worthy of a cooking show episode, the double island kitchen has a premier appliance Bathrooms - 7 Pool - Yes package including a built-in Alder-front refrigerator, gas cooking, professional cook hood and two sinks. Enormous master retreat, Sq. Ft. - 4,674 exit to the yard, double walk-in closets and two-way fireplace to Garage - 3-Car Garage the spa-worthy bath with jetted tub and impressive multi-head Lot Size - 29,454 sq. ft. walk-in shower. En-suite supporting bedrooms. Fifth bedroom ZIP Code - 85253 is set up as an office. Wonderful pool bath. Large .68 ACRE lot. Mature foliage shades the yard. Safely fenced pool with rock Online Pics - ThoseCallaways.com waterfall and grass lawn. – Joseph Callaway Price - $1,050,000

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PHOENIX | 2570 East Ocotillo Road | Open Today 1-5PM

THINK BILTMORE! GUARD-GATED BILTMORE MLS# - 5460415 MOUNTAIN ESTATES: SECLUDED, PRIVATE YET VERY Bedrooms - 4 IN-TOWN AND CLOSE TO EVERYTHING. Snuggled next to the Phoenix Mountain Preserve, this hillside hideaway boasts Bathrooms - 3.5 Pool - No a panorama of magnificent city lights and mountain views. Perfect for outdoors aficionados w/gated access to the area’s hiking trails Sq. Ft. - 5,209 from its quiet cul-de-sac setting. Stone finishes, wood floors, ZIP Code - 85016 beamed ceilings, skylights. Sleek ultra-modern kitchen. Sun-kissed family room w/soaring windows. Wood-filled office w/floor-to- Online Pics - BaldwinTeam.com Price - $1,905,000 ceiling built-ins. Hot tub, fire-pit patio overlook dazzling duvet of glittering city lights. Ideal for entertaining and/or easy, peaceful living. Visit tourfactory.com/1592824. Inside: details, directions.

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