Lennar’s Phoenix Lone Mountain Grand Opening Draws 1,500 Over Two Days

Optimism returns to the Phoenix real estate market

Phoenix, AZ, February 24, 2010 --(PR.com)-- The Lone Mountain community opened its doors to the public last week, attracting 1,500 people to the Lennar model homes in the first two days alone. The picturesque new master planned community, located near 60th Street and Lone Mountain in the Phoenix northeast valley, is the first new master plan to open in the metro area in several years.

“We knew Lennar had a unique offering in today’s environment. The response from our grand opening celebration has proven agents and potential buyers will certainly consider the possibility of making Lone Mountain home,” said Alan Jones, president of Lennar’s Arizona Division.

Lone Mountain offers sweeping vistas of the high Sonoran desert and mountains, as well as city lights. It has been called one of the most scenic new communities to be built in the Valley in the last decade. Anticipated amenities include trails, parks with playfields, playgrounds, desert gardens, a picnic ramada, and a basketball court. An estimated 300 acres in the community will remain natural area open space.

Trees Friend of HomeSmart was the buyer’s agent on one of the transactions that weekend. “I live near Lone Mountain and have been watching the progress for the last several years with great intrigue. A client was interested in investment properties and I knew that Lennar might consider the sale and lease-back of their models. My client purchased the largest model home and couldn’t be more pleased,” said Friend.

"We had several sales the weekend of the event and we have several more that will be finalized in the coming week,” said Mike Dowell, Lennar’s vice president of sales and marketing.

The one and two story homes range in size from 2,878 square feet to 3,811 square feet and are priced from the mid-$400’s. Lennar and Pulte are jointly developing the 600-acre property, which was purchased at a state trust land sale in 2000. All homesites in the cactus-studded community back up to open space as the property has many interesting washes that create natural are open space. Schools, shopping and worship sites are conveniently located near the community.

Building industry insider Lynn Palmer attended the Lone Mountain grand opening and was amazed at the traffic. “I thought the models looked great and the location is terrific. Lennar hit a home run. Based on the number of people at the opening, this is a good sign the real estate industry is coming back to life,” said Palmer who co-owns the Renewal Zone, an on-line real estate school and real estate consulting business.

“It’s great to see home builders unveiling new models and the public responding in such a positive manner,” said Dennis Sage, owner of Dennis Sage Home Entertainment, a company that provides audio and visual upgrades for new homes. “This could be an indicator that consumer confidence has returned,” he noted.

Lennar was founded in 1954 and is one of the nation’s leading builders of homes for people of all ages. The company has been building in Arizona for more than 45 years and owns considerable land holdings in the state. For the latest Lennar information please visit any of the following: Lennar.com, Facebook.com/LennarPhoenix; Youtube.com/LennarPhoenix; Twitter.com/LennarPhoenix.

Master Planned Communications
Martha Moyer