Newport Beach, California-based Landsea Homes Corp. (Nasdaq: LSEA) is planning to develop a new master-planned community in Pinal County.

The 461-home neighborhood, called Wildera, will be located at the northeast corner of Bella Vista Road and Quail Run Lane a couple miles east of Hunt Highway in the San Tan Valley area, a community located adjacent to Queen Creek.

Through California-based Arroyo Capital, Landsea purchased 136 acres for nearly $12 million in cash in September, according to documents filed with Pinal County. Construction on the project is expected to start immediately with a grand opening scheduled for December 2023.

The company said in a statement that it will offer "high quality, attainably-priced homes with great community amenities." Landsea said it does not provide financial details about projects and that pricing for the homes has not been set but will be determined by the market.

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By Audrey Jensen, Reporter - Phoenix Business Journal