DR Horton was introducing a new style of homes they called the "Urban Living Series." Urban Living was to be exclusive community luxury condominiums. In Tempe the units were 3-floors each ranging from 1,685 sq ft - 1,922 sq ft. They were priced from $387,500 - $405,000 and were to be located at the NE corner of Rural Rd. and Lakeshore Dr. (just south of I-60).
Architectural drawing:
However, the housing market stepped in and changed DR Horton's plans. I talked with the sales person who formerly worked at the Tempe location and learned that DR Horton restructured their company and dropped the Urban Living Series. That decision stopped development plans at 9 valley locations, including the one in Tempe.
Not one unit was sold during the brief 5-6 weeks the Tempe location was open for business.
DR Horton should have paid a little more attention to what is happening on Tempe Town Lake, at least for the Tempe location. There are condos there in the $400,000 range with a much better location and more amenities. Potential buyers in the $400,000 price range would be more likely to purchase at Tempe Town Lake.
What next for Rural Rd./Lakeshore Dr. area? It won't be a Taco Bell because they just opened at McClintock and Southern.
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