Camelot Homes, a Scottsdale-based luxury homebuilder, is preparing to open five new communities boasting $230 million in new product coming online, with presales to begin this summer.
The expansion will add more than 100 new luxury homes throughout the Valley at a time when existing home sales for homebuyers and lot supply for homebuilders are dwindling.
The Valley’s low inventory comes amid unprecedented demand, especially from people moving to Arizona from other states, said Maximilian de Melo, a co-founder of America One Luxury Real Estate.
“Camelot is known for quality product, and their communities will do well throughout the Valley,” he said. “There is a shortage of homes in all price points and locations.”
All five communities will be Camelot Homes’ own communities — from Gilbert to north Scottsdale. Click on the gallery below for a quick look at details of each of the new communities:
“We have $230 million in new product coming online — that’s the dollar volume of new homes we’ll be building,” said Julie Hancock, managing director of Camelot Homes. “The market has just been amazing. So many people want to move to Arizona because of all the lifestyle and amenities Arizona has to offer. We are just happy to be the beneficiary of a great market and having some great locations we’re building in.”
She’s especially proud of a new community called Paradigm, a 12-lot gated community in north Phoenix that will be built in collaboration with G3 by Camelot Homes, her 37-year-old son Trent Hancock‘s new company.
Trent Hancock, who is head of marketing for the family-owned business, is branching out to try his hand at homebuilding with this new G3 product line designed as a first move-up product, a bit different from Camelot Homes’ high-end luxury homes the Scottsdale homebuilder is known for.
“Paradigm means a shift in what’s normal,” said Julie Hancock. “This will have a unique look — designed to appeal to millennials and those looking for something really different who don’t want the traditional, standard production homes. I’m so excited to see everyone’s reaction.”
He will be teaming up with the Phoenix-based architectural firm on what he calls a Scandanavian contemporary design.
“We’re seeing it in Australia — it’s a clean, contemporary aesthetic with a farmhouse appeal,” he said. “We will start preselling the homes in June.”
Homes will start in the $700,000s — an introduction to luxury, he said.
The 12-lot gated community in north Phoenix will feature floor plans ranging from 2,400 to 3,712 square feet.
Dan Gonen, associate broker with RE/MAX Excalibur, said it’s not easy to find a brand new home in a close-in location.
“People want to be close to the familiar, popular and established community amenities they trust,” Gonen said. “This is why great inflll communities are in high demand.”