On June 22, 2012, Meritage Homes closed on 21 acres just north of the Raven Golf Club at Verrado (off Golf Drive north of Sunrise Lane). The deal closed at $1.98 million and Meritage will develop 66 finished lots, 70′ wide, to continue selling their current product line in Verrado. The lots will be marketed with homes ranging from 2,233 to 4,456 square feet. Construction is expected to begin in early July.
The Verrado community has more recorded home sales and a lower foreclosure and short sale rate than elsewhere in the valley. Additionally, retail and commercial properties are 100 percent leased and job growth is expected with the arrival of Worley Parsons and the opening of Banner Health Center.
Read the June 29, 2012 Phoenix Business Journal article about the land sale: Meritage Puts up Nearly $2M for land at Verrado.