Key Highlights
- Lennar’s Acquisition: Purchased 309 acres in Surprise Foothills for $20.52 million to build 846 homes.
- Surprise Foothills Overview: A 1,043-acre master-planned community west of White Tank Mountain Regional Park.
- Long-Term Development: Nearly two decades of infrastructure preparation, now ready for growth.
Housing Plans & Features
- Homes will range from 960 to over 3,000 sq. ft.
- Entry-level homes start in the low $300,000s, with higher-end options over $500,000.
- Community amenities include parks, sports courts, splash pads, hiking trails, and a school site.
- NextGen homes for multigenerational living, plus RV garages for outdoor enthusiasts.
Challenges & Market Factors
- Rising mortgage rates (currently ~6.93%) could impact affordability.
- Lennar remains optimistic that rates may ease by mid-2026, when homes hit the market.
Lennar’s Strategic Expansion
- Active in Apache Junction, Peoria, and Goodyear, focusing on growth along Loop 303.
- Prioritizing areas with strong infrastructure and employment access.
Investor Takeaways
- Prime real estate opportunity in a growing West Valley market.
- Strategic location + diverse housing = strong demand from families & retirees.
- Long-term appreciation potential as Surprise continues to expand.
Final Thoughts
Lennar’s Surprise Foothills development signals major growth for the region. With over 800 homes planned and a well-thought-out community design, this is a key area for homebuyers and real estate investors to watch. 🚀