The year’s low was set in February when just 99 permits were pulled.
“Indications are that builders are putting product in the ground to ensure that they have product ready through November when the $8,000 government credit to new homebuyers ends,” said Bright Future’s John Strobeck in his monthly housing letter.
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The average new home price in August was $220,264, up $9,000 from June and July, but down by more than $32,000 from August 2008.
Foreclosure sales are continuing to put downward pressure on new homes. The median new home price in August was $181,988, the lowest median of the year, down $3,000 from July and down more than $50,000 from August 2008.
There were 330 foreclosure sales in August, the third highest volume month of the year. They accounted for 31 percent of home resales for the month.
Without foreclosures, the median resale home price was $175,000 but even that is a record low for 2009. The previous record low was $178,000 in June. In August 65 percent of foreclosure sales were priced below $150,000.
New construction homes accounted for 17 percent of all sales priced below $150,000 in August and 45 percent of sales in the $150,000-to-$200,000 price range.
LEED Gold buildings
The U.S. Green Building Council last month awarded LEED Gold certification to two buildings at Waste Management Inc.’s Transfer Station and Recycling Center, 5890 S. Mann Ave. on the the southeast side.
A 1,326 square-foot administration building and 390 square-foot scale house as well as the entire 18-acre site all received the certification, although the transfer station itself was not included.
It is the seventh project to be LEED certified in the Tucson region. It is third to achieve Gold certification, after the Corona de Tucson Fire Station in Vail and part of a data center building that has asked to remain undisclosed.
Robert Caylor Construction Company was the general contractor for the Waste Management project that was constructed between February and November 2008. Stantec Consulting was the architect.
KB Home’s new presidentBen Redman is the new president of the Arizona Division of KB Home, responsible for the company’s home building operations in Tucson and Phoenix.
Redman began his career with KB Home in Phoenix. He is returning to the company after three years as president and chief operating officer for Westpac Development Corp., Phoenix. From 1995 to 2006 he was with Pulte/Del Webb Corp., during which time he served four years as president of Pulte’s Phoenix division.
‘Cash for crappers’Making an indelicate application from the federal government’s “Cash for Clunkers” program, Baker Brothers Plumbing has developed what it calls “Cash for Crappers” in which it is offering a $100 discount to replace an old toilet with a new high-efficiency model. The old toilets are then donated to Habitat for Humanity.
Kevin Cumming, owner of Baker Brothers, said that if an old toilet is unusable, his company will donate a new toilet to Habitat for Humanity. More about the promotion is online at www.baker-brothers.com.
Sales and leases• Dias Properties LLC purchased an office condo In the Caylor Office Park at 6422 E. Speedway from Next Door LLC for $315,970. The site will be used by Dias Management, LLC for their back office support and training site of their McDonalds Restaurants in the east valley of Tucson. James Robertson of Long Realty Commercial Services represented the tenant and Buzz Isaacson of CB Richard Ellis represented the landlord.
• Firetrol Protection Systems Inc. leased 2,880 square feet at Exchange Place Business Park, 1870 W. Prince Road, Suites 24 and 25, from Presson Corporation. Rob Glaser and Paul Hooker, industrial specialists with Picor Commercial Real Estate Services, handled the transaction.
• Safety Dynamics Inc. leased 2,528 square feet at North Tucson Business Center, 3845 N. Business Center Drive, Suite 115, from NTBC Trust Partners. Rob Glaser and Paul Hooker, of Picor Commercial Real Estate Services, handled the transaction.
• A Cut Above Family Hair Care leased 1,500 square feet at Oracle Village Shopping Center, 3950-3994 N. Oracle Road, from Machado Family Properties. Nancy McClure with CB Richard Ellis represented the landlord.
• State Farm Insurance leased 1,470 square-feet of space at 2341 E. Fry Blvd., Sierra Vista, from Larsen Baker. Andy Seleznov with Larsen Baker represented the landlord.
• The John P. Bell Family Foundation leased 1,395 square feet at 5647 E. Grant Road from Grant Road Group LLC. Rick Kleiner with Picor Commercial Real Estate Services handled the transaction.
• Seoul Kitchen Corporation leased 1,360 square feet of space at in the Crossroads East Shopping Center, 4951 E. Grant Road, from Machado Family Properties. Nancy McClure with CB Richard Ellis represented the landlord.
• Goodwill Industries subleased 1,200 square feet at La Cholla Plaza, at the northwest corner of Orange Grove Road and La Cholla Boulevard, from Dominos Pizza. Debbie Heslop with Volk Company represented the sub-lessor. David Blanchette of Bourn Partners represented the sub-lessee.
• Lewis Fields Enterprises LLC leased 1,200 square feet of space in Ventana Village, 6878 E. Sunrise Drive, from Wilshire-Selby Ventana LLC. The tenant plans to open a restaurant named Inca’s Peruvian Cuisine. Shannon Murphy and Brandon Rodgers of CB Richard Ellis Tucson represented the landlord
• Dry Heat Promotional Products leased 1,200 square feet of space at Marana Marketplace, on the southeast corner of Orange Grove and Thornydale roads, from Larsen Baker. Dry Heat plans to open in the new location in November. Andy Seleznov with Larsen Baker represented the landlord. Mark Hays and Mo Brady of Tierra Antigua Realty represented the tenant.
E-mail items for this column to jpangburn@azbiz.com. Real Estate and Construction appears weekly.
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