Palm Creek Ranch (PCR) is a fully-approved master-planned community with 371 single family lots located in Thousand Palms just north of Rancho Mirage. Palm Creek Ranch is a 110-acre site consisting of three single-family detached planning areas and one planning area for multifamily which will be retained by the seller. It was envisioned to serve a value-conscious consumer so a builder can deliver homes obtainable for

most buyers with attractive FHA financing well-below other offerings in the market. The property can be developed in phases as a traditional master plan or an age-qualified community.

 

Based on long-term trends and recent success in two active communities, developing an age-restricted community appears to be the most viable strategy. Pulte’s Del Webb Rancho Mirage opened in July of 2018 with 213 sales by April 4, 2019. Homes at PCR would be priced $100,000 to $300,000 below Pulte to capture the entry-level age-restricted buyers. This strategy has been proven at Domani by Rillington Homes which sold affordable homes at more than 8 to 10 sales per month.

Sal Provenza

Curt Crandall