Level Construction & Development has bought 33 residential lots in Rouzan, the Southdowns Traditional Neighborhood Development Rouzan, and plans to begin home construction “as soon as possible,” says Todd Waguespack, managing partner of Level.
Level, owned by Rouzan developer John Engquist, purchased the lots for $4.7 million from Engquist-Rouzan Development LLC.
Waguespack represented both companies in the deal, and was one of three individuals who partnered with Engquist last January to acquire the 100-acre development that began under Tommy Spinosa.
Level previously bought 46 Rouzan lots in March for $6.9 million. Roughly 16 homes are currently under construction, Waguespack estimates, and another dozen homes are under contract to be bought.
The additional 33 lots purchased are part of the development’s third filing, with the three- and four-bedroom houses ranging in size between 1,800 to 2,700 square feet.
“Sales have gone good in (Rouzan) and we’re hoping to continue the pace,” Waguespack says.