Arizona group buys Sekani West residential development site near Beacon Hill
D.R. Horton slated to build 134 units
Karina EliasOctober 20th, 2022
Walton Global, a Scottsdale, Arizona-based real estate asset management group, has acquired a 37-acre envisioned residential development in Spokane County known as Sekani West, says Ed Hadley, executive vice president of real estate for Walton Global.
The development site is located north of the Spokane River and southeast of Beacon Hill, at 7618 E. Hodin Drive and 5315 E. Frederick.
Hadley says the Spokane office of Arlington, Texas-based D.R. Horton Inc. plans to build 135 residential units, including 15 single-family homes and 120 townhomes at the site.
According to Spokane county records, Lexington Homes-DRH LLC purchased the land on Sept. 28 for $8 million.
Because of the topography of the site, only 13 acres of land there is buildable, says Hadley. Grading on the land will begin next month, with the goal to start selling homes in summer 2023, he adds.
Representatives from D.R. Horton couldn’t be reached immediately for comment.
Spokane-Valley based Whipple Consulting Engineers Inc. is listed as the engineering services provider on Sekani West’s preliminary plans.
While D.R. Horton has been in the Spokane market since 2018, the Sekani West development marks Walton Global’s entry into the Inland Northwest, Hadley says.
“We are excited to partner with Horton, as there is obviously a tremendous need for housing in Spokane,” says Hadley.
He adds that the Walton Global will being looking for more development opportunities in the Spokane area.
“We have roots there,” he says. “Three of our executives are Gonzaga University alums.”
Walton Global manages and administers $3.6 billion in assets totaling more than 93,000 acres across the U.S. and Canada, according to its website.