Brookfield Communities to begin construction on mountain homes in Pine
By Angela Gonzales – Senior Reporter, Phoenix Business Journal
May 14, 2018, 2:21pm
Phoenix-based Brookfield Communities Inc. is set to begin construction on mountainside, contemporary homes in Pine, Arizona, later this spring.
Plans call for building 18 vacation homes within this new community, called Woodshire at Elk Rim.
This is a different project for Phi Petersen, founder and partner in Brookfield Communities.
Since founding his company in 1996, he has been focused on big projects throughout Arizona, including Fox Creek, a 900-acre project in Bullhead City and Verde Santa Fe, another 700-acre project across the street from that project.
He said he has sold about $420 million of product for the Fox Creek Project in Bullhead City and another $288 million for the Verde Santa Fe project across the street.
Petersen said he invested around $850,000 for the new project in Pine.
"We got it under option from the landowner up there so we pay the landowner each time we sell a home," he said.
Home prices will start in the $280,000s into the mid $300,000s, he said. The homes will range from 1,020 square feet to 2,063 square feet.
"You can have five floor plans and you can have a floor plan with a single story or single story with a loft," he said. "We've already got several reservations and we haven't even started taking contracts."
He said the average buyer is under 30.
He said he's being careful about protecting the environment in Pine while developing his new community.
"We believe in conscientious development in an effort to ensure the pristine beauty and bountiful wildlife population of the area remains undisturbed," he said.