Walton Global Acquires 60-Acre Parcel in Tucson to Support New Home Development
Land known as Redford Estates purchased in Arizona’s second largest county
Institutional Real Estate, Inc.
Walton Global, a real estate investment and land asset management company, has just announced the acquisition of 60.80 acres in Pima County, continuing its effort to boost land inventory to support new home development. The new property, known as Redford Estates, is allocated for Walton Global’s Builder Land Financing program, which provides a solution to long-term inventory needs by acquiring opportune land identified by builders and developers. Redford Estates has a total of 276 lots, which are slated for residential development. The project will be developed in two phases with 144 lots in Phase 1 and the remaining 132 lots in Phase 2.
The fortunate location of the land will be beneficial for future members of the neighborhood as it provides frontage on South Cardinal Avenue and South Westover Avenue. With ideal positioning near the crossroads of South Cardinal Avenue and West Valencia Road, residents can expect an easy 15-minute commute to the Tucson International Airport, 14 minutes to South Tucson and easy access to major employers including the Amazon Fulfillment Center and Davis Monthan Air Force Base. Redford Estate is also less than 20 minutes away from crucial services including Banner University Medical Center and a Veterans Hospital.
“We’re thrilled to provide new opportunity to the community and look forward to Redford Estates joining the existing popular neighborhoods in the region,” said Paul Bae, Vice President, Portfolio Management for Walton Global. “We’ve seen a strong increase in Pima County and expect this to continue within the coming years. Our goal is to jumpstart these developments in high growth areas so that they can be well prepared for that population spike.”
Redford Estates community members will also benefit from several educational options as the property is just three minutes away from GracePointe Elementary and Preschool, four minutes from Miller Elementary School, six minutes from Frances J. Warren Elementary School and seven minutes from William J. Pistor Middle School.
Walton Global’s acquisition of Redford Estates follows the recent acquisition of Gladden Farms, another Arizona property allocated to the company’s Builder Land Financing program. The uptick in activity represents continued success for the company’s land investment business line, which was originally launched in 2020. This initiative was designed to help close the nationwide housing gap and to assist homebuilders in securing land assets until they are prepared to begin the horizontal development and vertical construction of new homes. Walton Global continues to seek opportunities to increase the housing supply in identified areas of growth across the country, through strategic land acquisition, innovation in investment offerings and partnerships with America’s largest homebuilders.
