You may not have heard of Scottsdale-based housing community developers DMB Development, but you might have heard, or live in, one of the communities they’ve developed. Many consider them somewhat responsible for redefining growth in the Valley over the last 20 years by creating popular communities such as DC Ranch, Verrado, and Eastmark. 

The company’s strategy of building communities for those willing to commute long distances in order to have big houses and big yards is evolving. The company plans on shifting their focus from master-planned communities to high-density projects like condos and apartments, according to AZ Central. 

With Phoenix condo sales up 50 percent and outpacing gains on the housing market due to interest from millennials and baby boomers, DMB has recently partnered with The New Home Co. to develop 72 luxury condos priced at $1.5 million or more.

The company also has plans for high-end apartments intended to lure long-term renters, which will be located midway between Downtown Mesa and Downtown Tempe, with details set to be finalized soon. Their vision calls for multi-use areas with innovative offices, co-working space, and retail.

This shift in strategy is a leap from their longstanding push to establish larger communities. The recent recession and housing bubble might be a part of that. Buckeye’s Verrado saw sales plummet during the crash, prompting DMB to subsidize the community’s grocery store in order to keep it open. It should be noted that Verrado’s prices have tripled since 2014 and a new phase of residences are planned for the 55+ community at Victory at Verrado. 

Meanwhile, Mesa’s Eastmark became symbolic of the housing market’s post-recession rebirth when seven homebuilders bought lots totaling $50 million in 2012. Together, they’ve turned it into one of the most successful and top-selling communities in the nation. 

Lauded as a model for master-planned communities on the edge of a metro area by preserving a large portion of the natural land, DC Ranch has almost completed its growth. Currently, there are only 14 lots remaining, most of those in the posh Silverleaf neighborhood where prices soar into the millions.

Mark Stapp, director of the Master of Real Estate Development program at Arizona State University, has full confidence in DMB’s ability to transform infill space around Metro Phoenix into flourishing communities, much like they did on the outskirts. Of the switch to building up instead of building out, Stapp says “infill is hard to do, but DMB is very smart about development and sets very high standards that other developers must compete against.”