Homebuyers looking to purchase a home in the Phoenix area will be pleased to know that this housing market has recovered and record numbers show home prices are what they used to be in 2006, according to AZ Central. Although home prices will continue to increase nationally as well as in Arizona due to a low inventory of homes on the market, per the Phoenix Business Journal, there are new developments underway that could help curb the soaring stock, at least in certain suburbs in Phoenix.

With the industrial boom in Phoenix as well as an increasing population and a thriving job market, new residential communities are popping up in the Valley that will likely attract more homebuyers.

East Valley

Entrance to the master-planned community of Eastmark

Homebuyers looking for new construction homes in the East Valley will have plenty of options to choose from. Builder Shea Homes will open two new residential communities in Mesa and in Queen Creek, according to an article on Builder Online. Shea purchased 15 acres within the master-planned community of Eastmark in Mesa and plans to build 62 homes. In Queen Creek, the builder will add a fourth new community at  Gateway Quarter and plans to build 75 homes.

According to the Builder Online article, Shea Homes will offer buyers homes in sought-after locations along with distinct floor plans featuring modern designs, open layouts, fully-equipped kitchens and baths, and smart home technology.

“Growth in the Valley shows no signs of slowing,” said Ken Peterson, vice president of sales and marketing for Shea Homes Arizona, in the article. “As the population of Maricopa County rises, Shea Homes is continuing to design and build the single-family homes our buyers seek.”

Construction of the model homes at the new Eastmark community will begin in June 2019, with plans for sales to start later in the year, while the new development in Queen Creek will open models in 2020.

Mesa is also focusing on the redevelopment of its downtown, according to the East Valley Tribune. The redevelopment includes Site 17, which is a 30-acre piece of land north of Main Street that the city acquired in 1992. Previous plans had called for an entertainment village in the area where 63 homes once stood, but the project fizzled, leaving the development idle. Now almost 30 years later, Mayor John Giles stated in the article that the vacant site will be “a high-quality residential development that will promote a healthier downtown.” The new plans are expected to be chosen this fall and will include a variety of housing options, including condominiums, single-family homes, and apartments, according to Jeff McVay, manager of downtown transformation.

West Valley

Homes in the Estrella Mountain Ranch community / photo by Grant Berg / CC BY-SA

Mattamy Homes recently purchased 155 acres of land across the West Valley for an anticipated 676 new homesites, reports AZ Big Media. Prospective homebuyers will have plenty of options to choose from among the five communities, which include more than 155 acres across the West Valley.

In Goodyear, homebuyers can check out two new neighborhoods. The first is Reflection Bay at Estrella, which will host 67 homesites some with lakefront options in the larger, master-planned community of Estrella Mountain Ranch. Residents of Reflection Bay will have the opportunity to enjoy amenities that include a championship golf course, private yacht club, pools, walking trails, fitness centers, and social clubs. Reflection Bay is scheduled to open in October 2018.

The second Mattamy community announced for Goodyear is called Crestwood at Canyon Trails and will feature 89 single-family homes within the Canyon Trails development. The community is slated to open in February 2019. Crestwood at Canyon Trails will offer residents a prime location with easy access to major roadways as well as nearby shops and restaurants.

Entrance to the Sienna Hills community / Courtesy of HoskinRyan

Buckeye will also see new developments by Mattamy Homes. The builder purchased 83 homesites within the master-planned development Sienna Hills. The builder also plans to buy an additional 83 homesites next year. Sienna Hills will feature a mix of single- and two-story, single-family homes that are scheduled to open in 2019. Residents will enjoy the master-planned amenities that include a pool, parks, and nature and walking trails. Another Buckeye development called Arroyo Seco will host 121 homesites built by Mattamy Homes. Arroyo Seco will feature one and two-story homes that are scheduled to open in March 2019.

Lastly, Mattamy Homes purchased Anderson Farms. The site will host 233 homesites in addition to the builder’s Roosevelt Park community in Avondale. Roosevelt Park will boast 600 single-family residences as well as a private pool, park, and gated entry. Roosevelt Park is scheduled to open in June 2019.

Scottsdale

Site plan for Gardener's Enclave in Scottsdale / Courtesy of the City of Phoenix

Scottsdale will see a new community in the coming months after a continuous development site was finally agreed upon by builders and existing neighbors of the future neighborhood, according to the Phoenix Business Journal. Upon City Council approval, the new site, which is to be called Gardener's Enclave, will include about 61 homesites, with Keystone set to build 26 homes on the eastern portion of the property and Taylor Morrison to build 35 homes on the western portion. Filed records with the City Council also include plans for a commercial site at the property's northwest corner.

Downtown Phoenix

The Innovation District will help improve public transit within downtown Phoenix / Shutterstock

Downtown Phoenix will potentially see a 2.6-acre site in the heart of Innovation District, with the City of Phoenix putting out feelers for a developer to “enhance” the downtown’s Central Station with a mixed-use development consisting of retail spaces, restaurants, offices, and residential components, according to an article in Forbes. Being hailed as “one of the most valuable pieces of land in downtown Phoenix,” the parcel was appraised in October 2017 and valued at just over $12.2 million. The city is seeking to create “an iconic transit-oriented development” out of the already existing travel hub with guidelines for potential builders to “consider a variety of dwelling unit types and ownership models to attract a range of household income brackets.” The next few months should reveal what direction the city decides to go with, this being one of the biggest developments in the downtown area this year.