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Tubac de La Montaña Development Overview
Summary
Tubac de La Montaña is a proposed upper-end Residential/ Resort Community
located in Southern Arizona in the unincorporated town of Tubac, approximately 35 miles south of Tucson. The Community, consisting of just over 1,000 acres, will include several components, including up to 1,400 homes in a variety of sizes and price ranges, an eighteen-hole Championship Gary Player Signature golf course, a Village Center housing the neighborhood amenities, golf clubhouse, fitness center and related uses, and a full service 250 room luxury resort hotel.
Location
The property is located in the Santa Cruz Valley of Southern Arizona near the 300 year old town of Tubac, just west of Interstate 19. The property sits high upon the foothills of the Santa Rita Mountains with an elevation of up to 3,500 feet which add to its comfortable year-round climate. Located approximately one and one half miles from Interstate 19, between two interchanges, the parcel is easily accessed yet sufficiently remote from the traffic on this main artery.
The site is located forty miles south of the interchange of Interstate 19 and Interstate 10 in Tucson, Arizona. Tubac de La Montaña is convenient to the Tucson International Airport, approximately 35 minutes north on Interstate19. The “time-distance” from the Tucson airport to Tubac is usually less than that required to reach the North Tucson Resorts of El Conquistador or La Ventana.
An important feature of the property’s location is the fact that there is relatively little undeveloped, privately owned land in the area as the vast majority of the vacant land is owned by the State or is part of the National Forest. (See Local location map below)
The Santa Cruz River Valley supports the largest Cottonwood forest in the world with a rich variety of birds and other animal species. The Tubac de La Montaña site presents a varied collection of ridge tops, natural valleys, and a variety of drainages thereby creating the ability to capitalize on both spectacular views and natural seclusion.
The Santa Cruz Valley is
rich in history. It was originally the home of the ancient Tohono O’odham Indians followed by the Pima and Papago Indians. Tubac later served as a Spanish Presidio and was the launching point for numerous Spanish expeditions which ultimately founded the settlements of Monterey and San Francisco. Ruins of the early Spanish settlement are now preserved and displayed in The Presidio State Historic Park in the ancient part of the Village.
Today, Tubac is an artists’ colony with over 100 shops, galleries and restaurants. Working artists fashion spectacular pieces with everything from gold to scrap metal. Renowned painters, sculptors, jewelers and others create and sell their works in the shops lining the streets of Tubac Village.
Existing residential opportunities
range from townhomes and single family residences in the Village and in the neighboring Tubac Golf Resort to sprawling ranches in the surrounding hills and mountains
The Development
The property enjoys a unique location. The 1,030 acres are on fee land, virtually
surrounded by State Land and the Coronado National Forest, which encompasses 1,700,000 acres. Tubac de La Montaña is the best parcel of development land in the beautiful Santa Cruz Valley. The location and natural beauty of the property combined with the allure of southern Arizona and Tubac, offers the ability to develop one of the most unique and desirable communities in the world.
Rising to 9,454 feet, the Santa Rita Mountains provide a dramatic backdrop to the east. The Sierrita Mountains to the northwest, the Tumacacori Mountains to the immediate west and the San Cayetano Range to the south complete the magnificent panorama.
Tubac
Tucson Green Valley
The Bajadas
(east-west ridges) and natural valleys provide excellent opportunities for combining golf and housing. The fairways wind easily through the property providing spectacular long vistas and vertical separation between golf holes and adjacent homes.
The land has been planned for development into a unique project. Tubac de La Montaña will compliment the Tubac Community and will focus on the abundant flora and fauna of the High Sonora Desert environment. The Plan capitalizes on the potential of the land and the favorable climate of the South Santa Cruz Valley. An important aspect of the Plan is respect for and protection of the ecology of the desert.
Tubac de La Montaña will offer a variety of experiences featuring a Gary Player Signature Golf Course, Resort hotel, Equestrian Center, and Racquet Club.
An equestrian element has been planned to take advantage of riding
opportunities in the Coronado National Forest and especially the Wrightson Wilderness Area just up Cottonwood Canyon.
The residential opportunities will be comprised of a variety of unit types including attached casitas or townhomes clustered in small village settings or near the golf course and other amenities. Low density residential neighborhoods will be developed offering lots ranging from one acre up to five acres. Tubac de La Montaña will be an unrivaled living experience based on topography, year-round favorable climate, open space, art, history, tourism, magnificent vistas and a carefully planned and controlled premier quality development.
Community Overview The Tubac de La Montaña Community will go far beyond the ordinary
development models wherein the design is driven by the desire to maximize the number of homes that can be built on the land. The driving philosophy behind Tubac de La Montaña is based on a “less is more” attitude in which the Community is built in a way that enhances the land and the surrounding Community.
The design, since it is not driven by maximizing density, provides for the massing of expansive, meaningful open spaces into undisturbed areas, including significant wildlife corridors and passive and active recreation areas. By clustering homes in specified development nodes and carefully selected and controlled building envelopes, an exemplary plan has been developed.
Unlike typical golf communities, Tubac de La Montaña will not feature rows of homes aligned along narrow fairways. Rather, home sites have been integrated into the planning and design of the Villages and residential clusters. There will be carefully designed and integrated groupings of homes in each neighborhood, separated by open spaces providing panoramic vistas. The neighborhoods will be linked by a system of trails reserved for bicycle, golf cart, pedestrian and equestrian users. Neighborhoods will contain a variety of housing types including Casitas, Haciendas, Villas and Estates.
Plan Summary
The Preliminary Development plan (Preliminary PAD) was approved by Santa
Cruz County in August 2007. The Final PAD is in the approval process now.
In addition to the allowed land uses, The PAD sets forth the designated building areas, allowed densities, open space provisions, height allowances, etc. The approved plan allows all of the contemplated uses as described hereafter. See approved Preliminary PAD below-
1,027
548
Village Center/Clubhouse and
Resort/Conference
439
1,400
1.4 DU/AC
Maximum Number of Dwelling Units Allowed
Overall Gross Density
Total Gross Area
Quantitative Development Table
40
Residential Development
Open Space/Golf Course
Gross
Acreage
326
178
44
5
17
18
439
1027
Land Use Summary Table
Medium Density Residential
Commercial
TOTALS
Resort
Village Center/Clubhouse
Open Space/Golf Course
Proposed Land Use
Estate Residential
Low Density Residential
Residential The residential portion of Tubac de La Montaña is the largest component of the
Community. It has been planned to accommodate three major housing categories: Estate, Low Density, and Medium Density residential. All homes will be designed to reflect the architectural history of Tubac. Spanish Colonial, Territorial and other early Arizona architectural styles will be mandated. Strict architectural controls and guidelines will ensure that all buildings reflect the palette of indigenous materials, colors, lines and textures and remain true to the architectural heritage of the region.
A detailed conceptual plan has been developed which is consistent with the PAD as illustrated below:
Estate Residential:
These areas will contain single-family residential units and will be developed at an overall density of less than one unit per acre. These lots will be located in areas on the site where the topography and natural features favor homes that are custom sited to fit into each unique building envelope. Most homes will have views of the golf course and all sites will offer spectacular Mountain vistas. Home sizes will generally range from approximately 4,000 S.F. up to 7,000 S.F.
Low Density Residential:
The housing in this residential district will consist of single-family detached and attached homes at a gross density of one to two units per acre. They will generally be clustered so as to allow large open space areas surrounding the nodes of homes. These home sites also benefit from excellent views as many of them will be near the golf course and will feature spectacular mountain views as well. Home sizes will typically range from 3,000 S.F. to 5,000 S.F. Courtyard Vil las-
Haciendas-
Medium Density Residential:
This residential district has been established to provide for both single-family
detached housing as well as attached housing product. The maximum overall density for this land use designation will be approximately eight units per acre, depending upon the parcel. However, the typical density will likely be closer to three units per acre. These development parcels have generally been located in areas that are in close proximity to the proposed Village Center or the main entrances to the Community.
Village Center
The 18-acre Village Center will accommodate all of the neighborhood and golf
course amenities. It has been centrally located within the Community, providing convenient access for all residents. It will be a place where people may gather, shop, eat or simply relax. This area will be designed in a pedestrian focused manner and will accommodate the Clubhouse as well as the golf pro shop, spa and fitness facility, and very small-scale shops, galleries and similar complementary uses that will support the Community. In addition, a maximum of 24 residential units will be integrated within the Village Center.
Gary Player Signature Golf Course
An eighteen-hole championship golf course has been routed in the central portion of the property by Gary Player Design, who will be responsible for the complete design of the course. The golf course will essentially be a “core golf” design in that the homes will not intrude upon the course. Rather, the homes will all be set back from, and above the fairways so as not to detract from the game. The course has been designed to take advantage of the significant topography of the land and will offer the views, challenges, and variety to create a golfing experience unlike any other course in Arizona.
Resort
The large, 17-acre parcel designated for the resort is located on a beautiful
plateau near the main entry to the Community. This location offers easy public access and will provide outstanding mountain views and sweeping vistas, including excellent views of the golf course. It is entitled for a maximum of 250 rooms and can accommodate typical ancillary services expected by resort guests.
Commercial
A parcel of land located at the very northern portion of the property at the
southeast corner of Chavez Siding Road and the planned north-south roadway is designated as commercial. This parcel will provide commercial services that will be demanded on an every day basis by future residents of this Community.
Property Type
Average
Home size
(SF)
Average Home
Price ($) /SF
(Year 1)
Average
Annual Price
Growth
Land Value
as % of
Home Value
Lots
Acres
Keys
Average *
Lot Sales
Price ($)
Gross
Revenues
Residential
Estate Custom Home Lots 5,750 545 3.4% 35% 167 1,349,033 225,288,463
Overlook Single Family Lots 3,250 515 3.4% 25% 155 508,392 78,800,707
Bosque Casitas Sites 1,700 450 3.4% 25% 95 219,494 20,851,905
Bosque Hacienda Sites 2,700 470 3.4% 25% 33 365,918 12,075,301
Large Courtyard Homesites 3,200 535 3.4% 25% 55 484,667 26,656,699
Golf Villas 2,000 515 3.4% 25% 215 304,627 65,494,757
Courtyard Homesites 2,100 490 3.4% 25% 184 311,710 57,354,572
Sub-Total/Averages 2,957 $503 3.4% 904 $506,263 $486,522,403
Commercial Land 40 5,000 $200,000
Resort Site 250 50,000 $12,500,000
Sub-Total Non Residential Land $12,700,000
Total Land Sales Revenue $499,222,403
* Average price over Sell-out period; includes annual price growth adjustment
Club Membership Sales - Limited 444 $25,000 $11,100,000
Club Membership Sales -Full 460 $75,000 $34,500,000
Total Membership Sales $45,600,000
Total Gross Land and Membership Revenue $544,822,403
Summary Development Pro-Forma (Static)
Land Development Revenue
Club Membership Sales Revenue
Revenues
Category Total
Site Grading 1,745,250
Roads 8,853,895
Water System 7,386,950
Sewer 8,026,475
Bridges, Washes, RR Crossing 5,703,375
Dry Utilities 6,256,965
Landscaping and Entries 4,005,825
Golf Course 10,000,000
Village Center Amenities 36,000,000
Sub-total 86,233,485
Permits, Bonds, Taxes @ 7% 6,036,344
Arch. and Engineering @ 10% 8,623,349
Contingency @10% 8,623,349
Total Land Development Cost 109,520,000
District Bond Financing or Cost
Sharing Proceeds -30,000,000
Net Land Sales Development Costs $79,520,000
Sales/Marketing @ 10% of gross sales 54,482,240
Property Taxes 1,250,000
Legal and Consulting 2,250,000
Development Fees @ 5% of sales 27,241,120
Golf Operating Deficit 1,600,000
Amenities Operating Deficit 4,000,000
Overhead and Administrative 6,000,000
Contingency @ 10% 600,000
Total Operations Costs $96,823,360
34,010,000 26,270,000
2,677,974 2,068,602
2,677,974 2,068,602
26,779,738 20,686,020
1,874,582 1,448,021
1,068,275 1,764,325
21,000,000
38,767,727
579,750 1,165,500
1,046,063 5,478,661
1,137,725 5,111,500
751,675 5,240,125
276,000 879,000
1,500,000 2,212,409
15,000,000
Expenditures
Operating Costs
Phase 1A Phase 1B Phase 2
0
2,329,171
1,137,725
2,034,675
4,548,375
2,544,556
Summary Development Pro-Forma (Static)
Development Costs
49,240,000
2,713,741
3,876,773
3,876,773
1,173,225
10,000,000
Gross Revenues 544,822,403
Land Development Costs (79,520,000)
Operations and Development Fees (96,823,360)
Net Land Development Profit $368,479,042
Homes Constructed (Excludes 50% Custom) 820
Average SF per Home 2,994
Total Square Footage Constructed 2,456,962
Average Price per SF 596
Net Profit Margin % 25%
Total Homebuilding Profit $366,066,582
Total Project Profit Before Financing
Homebuilding Profit
Net Land Development Income
$734,545,624
Summary Development Pro-Forma (Static)
Income Summary
Parcel
DecignationProposed Land Use
Gross
Acreage
Min. Land
Area Per Unit
Maximum
Units
AllowedA Commercial 5
B Low Density Residential 27 10,000 118
C Low Density Residential 7 10,000 30
D Low Density Residential 19 10,000 83
E Low Density Residential 7 10,000 30
F Estate Residential 77 20,000 168
G Low Density Residential 10 10,000 44
H Low Density Residential 33 10,000 144
I Estate Residential 137 20,000 298
J Estate Residential 40 20,000 87
K Low Density Residential 15 10,000 65
L Village Center/Clubhouse 18
M Open Space 439
N Resorts/MDR 17
O Estate Residential 37 20,000 81
P Medium Density Residential 3 4,000 33
Q Medium Density Residential 13 4,000 142
R Estate Residential 14 20,000 30
S Medium Density Residential 7 4,000 76
T Low Density Residential 10 10,000 44
U Medium Density Residential 9 4,000 98
V Medium Density Residential 5 4,000 54
W Low Density Residential 38 10,000 166
X Estate Residential 4 20,000 9
Y Estate Residential 17 20,000 37
Z Medium Density Residential 7 4,000 76
AA Low Density Residential 12 10,000 52
TOTALS 1,027 1,965
Parcel Land Use Table
Land Use
Parcel AcresUnits or
SF/ AcreUnits
SF non-
res
Resort
KeysUnit Type
Parcel A 5 10,000 NA 50,000 Comml
Parcel B 27 3.52 95 Casita
Parcel C 7 2.00 14 Lg Courtyard
Parcel D 19 2.26 43 Overlook
Parcel E 7 2.29 16 Lg Courtyard
Parcel F 40 0.53 61 Overlook
Parcel F 37 0.49 21 Custom
Parcel G 10 1.80 18 Sm Courtyard
Parcel H 33 3.00 101 Sm Courtyard
Parcel I 137 0.57 78 Custom
Parcel J 40 0.60 24 Custom
Parcel K 15 1.80 27 Gary Player SF
Parcel L 18 1.33 24 Villas
Parcel M 439 0.00 0 Open Space
Parcel N 17 14.70 NA 250 Resort
Parcel O 37 0.89 33 Hacienda
Parcel P 3 3.00 9 Villas
Parcel Q 13 5.00 65 Villas
Parcel R 14 0.50 7 Custom
Parcel S 7 8.00 56 Villas
Parcel T 10 2.50 25
Parcel U 9 6.00 54 Villas
Parcel V 5 6.00 30 Villas
Parcel W 38 0.63 24 Custom
Parcel X 4 1.00 4 Custom
Parcel Y 17 0.53 9 Custom
Parcel Z 7 6.00 42 Lg Courtyard
Parcel AA 12 2.00 24 Overlook
C-wood Cyn 35 1,000 NA 35,000
TOTALS 904
Unit Type Allocation
Gary Player Courtyard
*The 35 acres of Cottonwood Canyon are not included in this Planned Area Development