Shea Homes buys last parcel of former Valley dairy farm; nearly 1K homes planned


Scottsdale-based Shea Homes has purchased the last parcel of an 80-year-old dairy farm in Glendale.Shea Homes paid $15.57 million in cash to the family of Rovey Farms for 120 acres near 75th and Northern avenues, according to Tempe-based Vizzda LLC real estate database.That land buy expands Shea Homes’ Legacy Place master-planned community to 280 acres, where 920 homes will be built.Closing on Sept. 18, that transaction followed a Sept. 17 closing in which Shea Homes sold 243 finished lots within Legacy Place to Hearthstone, the land banker for K. Hovnanian Homes for $28.9 million in cash, according to Vizzda. K. Hovnanian Homes is operated by New Jersey-based Hovnanian Enterprises Inc. (NYSE: HOV)Nate Nathan and Courtney Buck of Scottsdale-based Na …

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