Located just to the north west of Phoenix, in the city of Surprise, Arizona, Greer Ranch was a 640 acre, well laid out master planned community with lush landscaping and community amenities including playgrounds and a large park. There was also a brand new elementary school and a fire station within the community. Regent acquired the northern half of the project in 2008 with the goal of bringing the balance of the project to completion.
Phase I of Northern Greer Ranch consisted of sold homes and finished lots available for purchase by local and national homebuilders for residential single family home development. Regent successfully sold the finished lots to national homebuilders.
Phase II consisted of about 400 semi-improved lots. As the master developer, Regent maintained all development approvals, extended utilities throughout Phase II, constructed certain offsite and interior streets adjacent to and throughout the development and managed the home owner’s association to ensure architectural consistency and compatibility for the entire development. Regent successfully sold the lots to national homebuilders.
Regent originally purchased the property as part of a distressed sale from the original developer.