Published July 23, 2024
Scottsdale homebuilder buys land for active adult resort - Boutique master-planned communities being rolled out in Arizona, 3 other states
Scottsdale homebuilder buys land for active adult resort
Boutique master-planned communities being rolled out in Arizona, 3 other states
Known as America's Most Trusted Active Adult Resort Builder since 2013, Shea Homes is putting a new spin on its popular Trilogy Signature master-planned communities.
Typically, Shea Homes builds Trilogy Signature active adult master-planned communities with at least 2,000 homes, but now the Scottsdale-based builder is unveiling a boutique active adult concept, known as Trilogy Boutique, across the country with between 250 and 550 homes.
Shea Homes just paid $5.85 million to an entity tracing to IHP Capital Partners for 76 lots within Northpointe at Vistancia in Peoria, according to Tempe-based real estate database Vizzda LLC. The transaction closed July 15 on the lots north of the northeast corner of Vistancia Boulevard and Lone Mountain Parkway in Peoria.
In June 2021, Newport Beach, California-based IHP Capital Partners teamed with Minneapolis-based Varde Partners to acquired the remaining 3,721 acres of land for development within Vistancia — called Northpointe at Vistancia.
Shea Homes' 76 lots in Northpointe are adjacent to the 125 lots Shea Homes had purchased in July 2023, with more planned for purchase over the next two years to total around 415 lots, said Jeff Hinkle, senior vice president for Shea Homes.
Shea Homes rolls out boutique Trilogy development in four states
In addition to Peoria, the company is also unveiling Trilogy Boutique in Paso Robles, California; Culpeper, Virginia; and Pierce County, Washington, for a total of 1,575 homes, Hinkle said. The clubhouses at all four boutique Trilogy communities are being designed at the same time and will be similar.
"Trilogy Boutique Clubs and programming will be of similar quality and architectural styling seen at our Signature Trilogy Communities," Hinkle said. "Trails connecting to the extensive greater Northpointe and Vistancia trail system, a food and beverage offering, flexible spaces for wellness and social programming throughout the day, as well as our physical wellness center, pickleball courts and fitness/resort pool."
To be called Ridgecrest, construction on the model homes at Northpointe at Vistancia is expected to begin by the end of 2024 or early next year. Prices are expected to start in the high $400,000s for homes ranging between 1,649 and 3,050 square feet, depending on one of three collections that will be available.
SHEA HOMES
"Trilogy Boutique is simply a way of offering the lifestyle the consumer has come to recognize with Trilogy, with the same quality homes Shea Homes is recognized for in a smaller package or a lesser number of total homes in a community than a Trilogy Signature," Hinkle said.
Shea Homes already has developed more than 3,000 lots at Vistancia since 2004. The homebuilder originally teamed up with Sunbelt Holdings to develop Vistancia in 2001, with Stratford Land joining in 2009 as an equity partner.
Resale home prices in that Trilogy community at Vistancia range between $494,900 and $850,000, according to current listings in the Arizona Regional Multiple Listing Service.
Since Shea Homes formed Active Lifestyle Communities in 1999, the division has built or closed 27,294 homes, with the majority being Trilogy branded communities. The company has lifestyle oriented offerings in eight states, and it is processing preliminary plat approvals for its first project in Houston, Hinkle said.
Final Thoughts
Shea Homes is redefining active adult living with its new Trilogy Boutique communities, offering the same quality and amenities in a more intimate setting. With developments underway in Arizona and three other states, Shea Homes continues to deliver exceptional lifestyles and beautiful homes. Ridgecrest at Northpointe in Peoria is set to offer luxury living with extensive trails, wellness centers, and vibrant social programming. The future of active adult living looks bright with Shea Homes leading the way.
