Toll Brothers has acquired an 11.27-acre parcel in north Scottsdale, Arizona, writes Angela Gonzales for the Philadelphia Business Journal.
The $28 million sales makes its latest luxury residential project for the Fort Washington company. The site, located within Nationwide Realty Investors’ Cavasson mixed-use development, will be home to a high-end townhome community called Toll Brothers at Cavasson.
Plans call for 135 three-story townhomes ranging from 2,200 to 2,700 square feet, each featuring rooftop decks. Sales are expected to begin in late 2026, with prices projected between $1 million and $1.2 million, said Bob Flaherty, Toll Brothers’ group president in Arizona. The project is set to break ground this fall.
Cavasson, a growing development at Miller Road and Cavasson Boulevard, will eventually feature 1.8 million square feet of commercial space, 1,600 homes, hotels, retail, and restaurants. The site was previously designated for a senior living facility before plans were halted due to rising construction costs.
Michael Lieb, CEO of Phoenix-based Michael A. Lieb Ltd., said strong demand and the area’s high-net-worth demographics make it an ideal location for luxury homes. Nearby, developers such as Belgravia Group, The Statesman Group, and Optima Inc. are also expanding high-end residential offerings.
Read more about Toll Brothers’ latest luxury residential acquisition in the Philadelphia Business Journal.
