Lennar snags 444 lots near TSMC’s $265B Phoenix project for $60M

Article originally posted on Phoenix Business Journal on September 18, 2026

One of the nation’s largest homebuilders has secured 444 lots near the Taiwan Semiconductor Manufacturing Co.’s $265 billion development in north Phoenix.

AGWIP Asset Management, land banker for Miami-based Lennar Corp. (NYSE: LEN), plopped down $60.14 million in cash for the land spanning 132.24 acres near 117th Avenue and the Deer Valley Road alignment on Maricopa County land, according to Tempe-based real estate database Vizzda LLC.

Closing on Sept. 15, the seller in the transaction is Phoenix-based Aroundtown Agua Fria LLC, which plans to bring an additional 2,000 lots in that surrounding area to market within the next three years.

Lennar could not be reached for comment.

The lots, which are south of the Vistancia master-planned community, are within a new subdivision being called Harish Estates, which is approved for 606 lots.

Negotiating the transaction were Nate Nathan and his son Max Nathan at Scottsdale-based Nathan & Associates Inc.

“This is one of the last privately held pieces of land very close to TSMC, Amkor, Halo Vista and other major employers,” said Nate Nathan, president and designated broker for Nathan & Associates. “It’s an incredible infill location.”

The father-son duo will represent the seller on the last 162 lots within Harish Estates.

Jordan R. Rose, partner with Rose Law Group PC, represents the seller as zoning attorney.

“This is the growth area in the Valley right now,” said Rose, whose law firm handled the transaction. “You could not get a better piece of dirt.”

This transaction represents the largest lot purchase of 2026, surpassing D.R. Horton Inc.’s $32.7 million purchase of 232 lots at Estrella master-planned community in Goodyear last week.

Both of these September lot buys signal the beginning of more large transactions to come.

With the lack of big lot purchases over the last few years, it makes sense that these large land deals are starting to close as existing lot inventories start to feel some pressure, said Jim Daniel, president of RL Brown Housing Reports.

Homebuilders closed on 1,509 homes in August, up from 1,490 in July, but down from 1,916 in August 2025, according to RL Brown Housing Reports latest data.

The average new price of a newly built home was $662,765 and the median new price was $494,990 in August, according to that report.