Paloma Ridge is the newest and largest residential development in the Catalina Foothills. Located on prime Foothills real estate at Sunrise Dr and Hacienda del Sol Rd, AF Sterling is building 54 homes on 13 acres at Paloma Ridge.
The homes range in size from 2277 to 3091 sf. And with a reputation for a real quality product, excellent customer service, a long list of standard amenities, and like the sign says , from the low $500's, these homes appear to be very well positioned for today's market.
The largest model, at 3091 sf, 3 bedrooms/3.5 baths, is base priced at $564,900. That's $183.00 sf, and that's unheard of for new construction in the Foothills, and even more so for a gated community adjacent to the golf course at La Paloma. Add $100,000 in upgrades, and the price jumps to $664,900, or $215.00 sf.
Still very inexpensive in the Foothills today.
Here's the front view of a couple that are close to completion.
And the rear view of a couple under construction.
All of that is very attractive. But with all that going for them,
I'm not sure who the target customer is for these homes.
Traditionally, in this setting, at these prices, the most likely customer would be a second home owner, snow bird, or retiree.
The La Paloma location, new construction, the security of a gated community, and the small lot size with low maintenance, are all attractive features to second home owners and retirees.
On the other hand, these homes are all two-story, and that's almost never an attractive feature to second home owners and retirees. (ps-as far as I know, this is the only ALL
two-story home development in the Foothills)
In my experience, a two-story home is a no-no with many home buyers in the Tucson Foothills, but especially so with older buyers.
Ok, how about younger families with kids.
Good location, district 16 schools, new home, gated community, OK so far. And a small lot size. Oops! These homes have no yard, just a small patio. And while that's an attractive feature for many older folks, it's usually a big negative for people with younger kids.
Kids need a place to play outdoors. Hmmm!
How about young professionals. Well, maybe.
Riverwalk is a couple of miles straight south of Paloma Ridge, and though it bills itself as urban living (ah, stretching the definition in my opinion), it's similarly priced, it's new construction, gated, and three story, with no yard. And it's marketing is targeted to young professionals. So maybe.
But more likely, it's all of the above, and more.
Because what I think we're really seeing here is the effects of the scarcity of available land, and the very high cost of what land is available in the Foothills today, changing the face of residential construction, where possible.
Forcing builders to use land more efficiently and build more densely where zoning permits it. And encouraging buyers to stretch, re-think, and consider types of housing in the Foothills that is different from traditional expectations.
In a recent article in the AZ Daily Star- referring to the high cost of land in the greater Tucson metro area- Roger Yohem, a spokesman for the Southern Arizona Homebuilders Association, said, "In the future, 25 years down the road, in this Tucson market you'll be seeing a lot more two-story houses,"
That may be so in the greater metro area, and I bet it will happen sooner than 25 years, but in the Tucson Foothills we're there now. We're almost out of land to build on.
That said, I don't think we're going to see a seismic shift in the look and character of the Foothills. Because many, even most of the subdivisions in the Foothills, are zoned and have CC&R's in effect that permit just one home per acre, and many of them also restrict homes to one story. But there is and will continue to be change, and hopefully some positive innovation.
As to the fate of Paloma Ridge, I hear through the grapevine (it's not listed in the MLS so it's impossible to get the details) that the best lots have already been taken.