Lennar eyes 473 acres of East Valley land for new housing development

National homebuilder Lennar is looking to scoop up about 473 acres of state land near Mesa where it wants to build new homes.

The East Valley property, which is off Meridian and Baseline Roads, is bisected by the U.S. 60. It is in the Mesa area, though it is technically in unincorporated Maricopa County.

The land will likely be auctioned off in the third quarter of 2026 though an exact date has not yet been set, according to the Arizona State Land Department’s website. A starting bid price has not yet been listed, and appraisal documents are not yet available in the ASLD’s records.

“Lennar wants to continue its presence in the Mesa area as we’re now sold out of our positions at Eastmark and Cadence,” the original application stated.

“With these masterplans at buildout and the continued demand for housing in this submarket,” the document stated, Lennar intends to develop single-family homes on this new site.

Still to be determined is whether other homebuilders will join the auction.

The Arizona State Land Department will auction off about 473 acres in Mesa next year.

Arizona State Land Department

Mesa has not seen much activity with state trust land auctions as the area does not include significant chunks of state-owned land.

Instead, commercial and residential developers have more recently been drawn to sites elsewhere in the Valley with larger swaths of such land – such as in north Phoenix near TSMC’s campus, and in the Desert Ridge and north Scottsdale area.

Two major mixed-use master-planned communities – NorthPark Phoenix and Halo Vista – are in the works in north Phoenix on current and former state-owned land.

And in September, a bidding war ensued at an auction for a 52.9-acre site bordering the JW Marriott Desert Ridge Resort & Spa. The starting bid price was $37.75 million. K. Hovnanian Homes ultimately won the coveted parcel, placing a winning bid of $71.1 million.

Lennar, which is headquartered in Miami, declined to comment on the upcoming Mesa land auction. According to Business Journal research, Lennar is the No. 1 most active builder in the Phoenix metro, based on the number of housing permits pulled.

Another East Valley state land auction triggered by a homebuilder is slated to happen in the first quarter of 2026. ASLD will auction off 324 acres near San Tan Valley, with a starting bid price of $18,395,000. D.R. Horton submitted the original application.

Final Thoughts:

Lennar’s interest in securing 473 acres in the East Valley underscores the continued demand for housing in one of the metro area’s strongest-performing submarkets. With major master-planned communities like Eastmark and Cadence now sold out, builders are actively seeking the next pipeline of developable land. While the auction won’t take place until 2026, this move signals steady long-term confidence from one of the nation’s largest homebuilders. As additional state land auctions unfold and competition intensifies across the Valley, our team is here to help you stay informed and understand how these shifts may shape future opportunities for buyers, sellers, and investors.