Rouzan developers John Engquist and Charles Landry have filed a final development plan with the planning commission for 167 residential lots that will be developed on the remaining 30 acres of undeveloped land in the Southdowns-area Traditional Neighborhood Development.
The plans, filed last week, come as the developers are continuing to sell lots for custom and spec homes in the residential filing currently under construction. In a deal that closed Monday, Engquist Rouzan Development sold eight lots to Level Homes. Another 10 lots are under contract to builders and are expected to close in the next 45 days.
The development of Rouzan has been brisk in the two years since Engquist and Landry acquired the TND, and the rate of residential absorption is nearly a year ahead of schedule, Landry says.
Since January 2018, 100 new single-family homes have been completed or are under construction, with most of the construction taking place in the past 12 months.
Rouzan’s original developer, Tommy Spinosa, developed 66 homes in the TND’s first two filings.
Additionally, Engqist and Landry are completing construction on Rouzan’s clubhouse and pool. The clubhouse is expected to be open in the next 30 days, while the pool will open in late spring.
In another potentially significant development, the developers have finalized purchase agreements for three major commercial developments that will be located adjacent to the existing Town Square, which is home to a Sprouts supermarket and a nail salon.
Landry declines to identify the buyers or even to say whether they are restaurants or retailers but he is optimistic the deals will close soon.
“They’re in the due diligence phase, currently, but once they get out and we are able to announce them, people will be amazed,” he says. “They are significant.”
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