Tempe-based Fulton Homes has closed on several land deals that will bring 3,500 new homes to the West Valley at a time when the existing housing supply is woefully lacking.

The homebuilder just plopped down $14.75 million for 187 acres at the northwest corner of Perryville and Indian School Road in Maricopa County, according to Tempe-based Vizzda LLC real estate database.

Plans call for creating a master-planned community with four product lines totaling 675 lots featuring an aquatic center and sports park, said Norman Nicholls, president of Fulton Homes.

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By Angela Gonzales, Senior Reporter - Phoenix Business Journal