Shea Homes has bought 25.7 acres of land in north Phoenix and plans to build 111 homes on that parcel near Interstate 17 and Carefree Highway.
Shea bought the land at North Valley Parkway and Sonoran Desert drive in far north Phoenix for $4.85 million from Evergreen-North Valley & Sonoran LLC.
Phoenix-based Evergeeen Development Co. is a partner in that latter entity.
Shea is calling the planned development 24 North.
The builder will start construction on model homes this week. They are slated to deliver in the fall.
“24 North is conveniently located near the I-17, perfect for those who like to get out of town and enjoy weekend getaways to the high country,” said Ken Peterson, vice president of sales and marketing for Shea.