New Retirement Housing Planned for Arizona
East Valley Tribune (AZ) (05/23/02) p.HE1; Swafford, Michelle

Scottsdale, Ariz.-based entrepreneur Mort Fleischer and Ranch Communities of America are planning to build as many as 25,000 affordable housing units near Prescott for middle-market retirees. The community will feature townhouses, production homes, log cabins, recreational vehicle sites, and custom homes--with prices ranging between $70,000 and $100,000--spread out in five to 10 villages. Fleischer currently has approximately 30,000 acres of land in escrow and is negotiating for 20,000 acres of State Land Trust. About half of the 50,000 acres will be left as open space for preserve and recreation. Possible amenities include high-speed Internet access, equestrian and hiking trails, stocked lakes, a fitness center, shooting and skeet ranges, a synthetic turf golf course, a general store with groceries and gas, a ranch house with a restaurant and bar, and a library--all of which will be reasonably priced with the costs shared among the thousands of homeowners. Arizona Home Builders Association of Central Arizona President and Executive Director Connie Wilhelm says affordable housing units like those planned by Fleischer are in demand. By comparison, homes in the age-restricted, active-adult communities built by Del Webb Corp. and Robson Communities can cost as much as $300,000 to $400,000.


Back   |  IRA.com Home   |  News Archive