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California homebuilder makes West Valley city debut with plans to build 662 homes

Friday, January 24, 2020   /   by Juan Grimaldo

California homebuilder makes West Valley city debut with plans to build 662 homes

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A California homebuilder is targeting a West Valley city with plans to build 662 entry-level and move-up homes.

PROVIDED BY WILLIAM LYON HOMES


By Angela Gonzales  – Senior Reporter, Phoenix Business Journal

Jan 24, 2020, 9:30am MST 



William Lyon Homes will begin its first Avondale subdivision after the Newport Beach, California-based homebuilder closed earlier this month on 137 acres in the West Valley city.


The homebuilder paid $12.25 million to an entity tracing to Angelo Gordon & Co. and Ridgewood Real Estate Partners for land at the southwest corner of Indian School Road and 99th Avenue, according to Vizzda LLC, a real estate database.


The deal closed Jan. 14 after being in escrow for two years as William Lyon Homes worked its way through a rezoning case with some "crazy turns," Troy Wahlberg, vice president of acquisitions and development for William Lyon, told the Business Journal.


Avondale's general plan requires more density in that area, he said.


"We had to work closely with the city of Avondale to show how a more dense single-family detached product could live on the site," Wahlberg said.


Along with its traditional single-family homes, plans call for building a shared courtyard village product. These are still single-family detached homes. Of the 662 homes being planned there, 247 will be dedicated to the shared courtyard village product.


"It's more like a six-pack configuration," Wahlberg said. "Owners can have a lock-and-leave approach."


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Troy Wahlberg, vice president of acquisitions and development for William Lyon Homes.

PROVIDED BY WILLIAM LYON HOMES


Homes will range from 1,200 to more than 3,000 square feet, but it's too early to disclose prices, he said.


"This master plan will have a focus on affordable and first-time homebuyers, with some options to move up into second- and third-time buyers," Wahlberg said.


Plans call for opening in late 2021.


The entire community, called Parkside Village, is zoned as a planned area development. The site includes 9.9 acres for office use and another 21.33-acre parcel zoned mixed use that will be retained by the seller, Wahlberg said.


A 6.23-acre park will include a community pool, sports courts and open space.


William Lyon Homes is in the process of being acquired by Scottsdale-based Taylor Morrison Home Corp. (NYSE: TMHC), with shareholders scheduled to vote on the merger on Jan. 30.



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This master development plan for Parkside Village in Avondale will include 662 homes.

PROVIDED BY WILLIAM LYON HOMES

 
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