Developer Explains Vision For Estrella

The Arizona Republic reports on Newland Communities chairman and chief executive Robert McLeod's vision for the 20,000 acre Estrella master-planned community and his take on the Phoenix housing market.

McLeod says that there are still 18,000 acres to develop in Estrella and it will take over 20 years to finish the project. He looks for builders that will have a variety of design elevations and new styles so that the development doesn't have that cookie cutter feel. He says that more buyers are homebodies, spending more time in their homes and community.

On the Phoenix housing market, McLeod says that as interest rates rise and we have a natural slowing of the economic cycle, he sees a slight dip before it levels out and begins to climb again. More...