BULLHEAD CITY, AZ-Phoenix-based developer Brookfield Communities says the time is right to begin work on its $17-million assisted living facility in the heart of its Bullhead City Fox Creek community, as well as five 7,500-square-medical office buildings and a “Main Street”-style retail district at the development.
Company officials say an improving residential sales market and a surging stock market have fueled optimism in Arizona. Brookfield, a successful master-plan developer of two Arizona active adult communities and large land-holder in the state, is starting development on several significant new projects at its Fox Creek community in Bullhead City and has significant expansion plans on the horizon in 2014.
“Grace and memorable, classic design is what we are building and creating in our new neighborhoods,” states Phil Petersen, founder and president of Brookfield Communities. “We are bringing modern building and design techniques to a style of home that has always been sought-after. It's a 'today meets yesterday' approach and it's going to add great character to our community.”
Driving the need and timing of the new projects at Fox Creek has been record foot traffic through 2013–the community has recorded double the amount of visitors at its sales center year-over-year, company officials note.
“Our buyers are finally coming out of dormancy,” adds Petersen. “Our clients are mainly active 'boomers' like myself who have been waiting on the sidelines to make a move until they are pretty certain the economy is stable and heading in the right direction. It looks like we're finally there.”
To handle the anticipated growth at Fox Creek, Brookfield Communities has brought on a team of new home counselors and partnered with residential brokerage firm, Keller Williams. Brookfield has also added hundreds of new acres at its Fox Creek holdings.
To date, there have been nearly 1,400 home and lot sales at Fox Creek since its launch in 1995, which now is more than 900 acres in size. Over the years, development projects have included commercial, religious, retail, schools, bulk land and residential.
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