Development Land for Sale in Casa Grande, ArizonaMarch 01, 2019 / Land Investment / 0 Comments
As land investors, we are constantly analyzing the growth dynamics of the greater Phoenix area to choose “Goldilocks” locations. Goldilocks locations are just right. On the one hand, they are far enough ahead of current development that you can still find a deal as prices haven’t risen to the competitive level of the hotbed markets. On the other hand, because of their location growth, the resulting rising prices are beginning to accelerate.
Casa Grande – A market for strategic purchases
Casa Grande was founded in 1879 as an Arizona mining town. At the turn of the century, Arizona was emerging as an agricultural center. As the mining boom slowed in the 1890s, Casa Grande grew with residents from the growing farming activity.
Today, Casa Grande is primarily a commuter community, supplying housing to workers both in the Phoenix metro area and Tucson. And that fact makes it attractive for investment.
Here’s why we think Casa Grande land is particularly well positioned for strategic purchases:
Casa Grande’s location provides an attractive commute to the Price Road Corridor and other employment centers. As South Tempe, Chandler, and Gilbert developed, new home buyers were forced to look for more affordable alternatives further from the developed city. However, the Gila River Indian Reservation borders those towns to the south. Therefore, during the boom of the early 2000s, development jumped across the reservation and began in Casa Grande. Thanks to the I-10, the commute across the reservation is only 25 minutes. For many, that’s less than they would experience commuting across the metro area.
Casa Grande now has a Walmart Supercenter, Fry’s Grocery Store, movie theatres and plenty of restaurants. As home buyers weigh the pros (pricing) and cons (distance to the city) of buying in an outlying area, those amenities tip the scale in favor of Casa Grande.
This is a big deal. This electric car company is building its production factory in Casa Grande, and production of the cars is scheduled to begin in 2020. In a recent interview on Bloomberg, the CEO reports that Lucid is expected to bring 2,000 jobs to Arizona, which will create obvious housing demand for the area.
Developers haven’t yet taken over
Production builders have focused so far on Maricopa to the west, and Queen Creek to the east. That means there are still deals to be had in Casa Grande. It’s worth to keep in mind that those builders are looking at Casa Grande now. We expect prices to change fairly rapidly.
Our recent sales activity
We currently control 135 1-acre and 1/2-acre lots in Casa Grande. We’ve just started building homes, and we’ve been thrilled with the market response. Our sales activity tells us that the Casa Grande market will be robust in short order and that prices will soon adjust to parity with Maricopa and Queen Creek.
If you have any interest in capitalizing on the rising land values in Casa Grande, your best path to success might well be partnering with us. Take a moment to explore this site. Review our strategy, our investor profit split, our Frequently Asked Questions, then give us a call.