CAREFREE – While a weak housing market has forced some Valley builders to fold, a small Washington-based homebuilder has an expansive eye on Carefree.
Chaffey Homes chose the Northeast Valley town to make its first mark in Arizona after opening offices in Scottsdale last year.
The family owned company plans to debut its first model home in October at the Tranquil Trail Estates subdivision near Carefree Drive and Tranquil Trail.The single-level homes will range in size from 3,500 to 4,300 square feet. Prices will range from $1.2 million to $1.6 million.Chaffey also broke ground on a townhouse complex near Hum and Cave Creek roads. Almarte will consist of 24 townhouses built in duplexes, with the first model home opening in March.
“The Northeast Valley has proved that it is one of the strongest areas (for real estate),” said Chaffey Arizona General Manager Kelly Lawrence. “We felt like those types of markets just had more staying power.”
Chaffey was attracted to Carefree’s “small-town nature” and affluent demographic, Lawrence said.
The town’s median household income is estimated by Realtors at $94,816, more than double the Arizona average of $46,669.
It helps that Valley developer Ed Lewis, who developed the Landmark condominiums at Kierland Commons, plans to build a massive multi-use project in downtown Carefree, Lawrence said.
Easy Street will bring luxury condominiums over retailers and restaurants.
Groundbreaking is scheduled for fall 2009, said Carefree Planning Director Gary Neiss.
Chaffey also owns two lots in a five-lot subdivision called Aribiome, near Galloway Wash off Scopa Trail, Neiss said.
The development will have larger floor plans than Almarte and Tranquil Trail Estates, Neiss said.
Chaffey is working on the design of the homes. The town expects to finalize the building permits soon.
“We like the way the town has been planned, especially the town center,” Lawrence said. “This is more of an affluent area where the re-sale value of homes is second only to Paradise Valley.”
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