Home construction picks up with new developer at Yavapai Hills

An improving real estate market sparked plans by a group of businesspeople to take over development at Yavapai Hills with plans to complete the subdivision in 15 years. Yavapai Hills Developers LLC bought the remaining lots from the original developer in February 2011 and is working with builders and a real estate firm to build and sell homes. The limited liability corporation bought 475 to 500 acres from the Klein family, including 110 improved lots, said Jason Gisi, development manager for the LLC. Yavapai Hills, which dates to the 1970s, is located off Highway 69 and Sunrise Boulevard. Gisi and the real estate agent who is selling the lots indicated that the timing is good with a recovering real estate market. Citing the Multiple Listing Service, Gisi said the distressed property rate (for foreclosures and short sales) is only 3.5 percent in Prescott.

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