Brookfield Sees Home Sales Increase in Planned Communities

PHOENIX-The stock market hit a record high last week, and the Southwest region's residential real estate market continues to recover, accoring to industry reports. A prime example of the current Arizona business climate can be found at Brookfield Communities, a successful master-plan developer of two Arizona active adult communities and large land-holder in the state. Currently, Brookfield Communities is starting development on several significant new projects at its Fox Creek community in Bullhead City with significant expansion plans on the horizon in 2014.

 Work is underway at several new subdivisions with creative new home designs reminiscent of memorable neighborhoods like those found in Santa Monica, CA and other historic and distinctive communities. At Fox Creek, these eclectic and remarkable homes will merge modern design with rustic bungalow, art deco and cottage architecture and style.

 “Grace and memorable, classic design is what we are building and creating in our new neighborhoods,” said 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 yesterdayapproach and it's going to add great character to our community.”

Fox Creek has experienced record foot traffic through 2013 – the community has recorded double the amount of visitors at its sales center year-over-year.

“Our buyers are finally coming out of dormancy,” added Petersen, who started Brookfield Communities after spending years building and marketing homes for Del Webb.

Home values have also seen significant increases, especially in southern California and in Arizona, the two largest markets in which Fox Creek buyers come from.  “Our buyers are at a point in which they are ready to start the process of building their dream home in the right location at the right price,” said Dan Green, a principal at Brookfield Communities. “We are going to be ready for this next wave of demand.”

To handle the anticipated growth at Fox Creek, Brookfield Communities has brought on a seasoned team of new home counselors and partnered with the nation's largest residential brokerage, Keller Williams. Brookfield has also added hundreds of new acres at its Fox Creek holdings.

In early 2014, construction will start on a $17 million assisted living facility in the heart of Fox Creek. In addition to this facility, Brookfield Communities is planning on building five 7,500-square-medical office buildings and a “Main Street”-style retail district. And with the planned new communities, Fox Creek will continue to innovate and add to the region's unique character. A center part of its newest residential neighborhood, The Ridge, will be a distinctive community clubhouse called “The Roost.” The rustic and western-inspired tavern will feature a bar, indoor and outdoor gathering spaces, fire-pits, recreational amenities and swimming facilities.

“There is a huge sense of anticipation not only in Bullhead City, but throughout the West for what is happening here in Arizona and at Fox Creek,” added Richard Lerma, operating principal for Keller Williams and its Bullhead City office, the exclusive broker for Fox Creek. “The industry is abuzz for what is happening here. It's very exciting.”