A beleaguered housing project just west of the Tucson Mountains in Marana is moving forward with a new identity.
Saguaro Springs, a planned subdivision on West Twin Peaks Road near Rattlesnake Pass, has been renamed Saguaro Bloom by Scottsdale-based Grayhawk Development.
The site has been approved for up to 2,500 homes.
Construction could start there by the end of the year, said Brian Baehr, Grayhawk's vice president of land development.
"We're going to start cleaning up the site and kind of re-beautify it," Baehr said.
Grayhawk, which purchased the note from the development's original lender, is using foreclosure to take over the property.
A foreclosure notice recently filed in the Pima County Recorder's Office says the original developer is delinquent on a $20 million loan recorded in August 2005. The beneficiary on the note is Marana 670 Holdings LLC. Grayhawk is a managing member of that company, Arizona Corporation Commission documents show.
The project, like so many others around Tucson, was financed when homebuilding was booming and land prices were high. A few years later one of the project's partners, Empire Land LLC, filed for bankruptcy. Three model homes built by KB Home ended up getting torn down.
Grayhawk will have to make improvements to the infrastructure, which has deteriorated in the years since it was put in by the original developer, said Gilbert Davidson, Marana's town manager.
"There's a lot of repairs that have to be made, making sure everything is brought up to a Marana level of expectation," Davidson said. But overall, Marana is pleased with the progress Grayhawk has made, Davidson said. Grayhawk has worked steadily with the town's Development Services Department and brought a new point of view to the project, he said.
It had been troubling over the years for town officials to watch the project crumble.
"It was a major concern for the town, having that project in its infancy and then it basically died," Davidson said.
Saguaro Springs By the numbers
One square mile
2,500 home sites maximum
Contact reporter Dale Quinn at firstname.lastname@example.org or 573-4197.