By Angela Gonzales | Phoenix Business Journal
Toll Brothers Inc. just closed on the last lots available at Storyrock, a luxury master-planned community that has 2.5 miles of frontage on the 30,000-acre McDowell Sonoran Preserve in north Scottsdale.
The Pennsylvania-based homebuilder paid $24.7 million to Storyrock Development Corp. for 100 acres of Storyrock’s 462 acres.
The deal represents one of the largest homebuilder sales in terms of dollar size since May 2022 when interest rates started increasing, said Chase Emmerson, vice president of Scottsdale-based Storyrock Development. Storyrock master plan includes 443 homes.
“This is a good sign for the new housing market here in the greater Phoenix area,” Emmerson said.
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