IHP Capital Partners and Cachet Homes, an Arizona-based luxury home builder, have formed a joint venture to acquire a 66.7-acre parcel in North Phoenix for the development and construction of 162 single-family homes.
Within the Union Park at Norterra master-planned community, the project includes 102 alley-loaded lots and 60 traditional front-loaded lots. Development is under way, and project completion is anticipated in third quarter 2022. Sales are scheduled to open in summer 2022.
“Demand for new homes in Phoenix remains strong, and North Phoenix continues to draw new residents and corporations, particularly within the semiconductor industry,” said Eric Koff, senior vice president at IHP Capital Partners. “Union Park at Norterra is a vibrant mixed-use community in a spacious desert setting with a wealth of amenities. IHP is pleased to partner with Cachet Homes, a well-known and respected builder in the Phoenix region, to deliver much-needed new homes that offe
