VOL. 16 ISSUE NO. 45   | NOVEMBER 10 – 16, 2010


Village at Surrey Hills revamped and restarted

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CAVE CREEK – Almost two years ago, when the economic crisis began turning Arizona’s real estate market on its head, the Village at Surrey Hills, the upscale townhouse project at the southwest corner of Cave Creek Road and Surrey Drive, with units selling from the high $600s, became virtually unsalable.

VRE Carefree, which now owns the property, has amended the original plat, changing up the project in hopes of producing a product better suited to Cave Creek and the current housing market.

The original units, which remain unsold, were designed as two-story townhomes averaging around 2,700 square feet.

The two new two-story buildings currently under construction will each contain four units, two downstairs and two upstairs, averaging 1,500 square feet each.

village at surrey hillsAccording to Paul Sharpe of VRE the new sales office in one of the unit’s garages is now open.

Eight scaled down, single-story condominium units are currently under construction at the Village at Surrey Hills while the original and much larger townhouse units that hit the market two years ago during the onset of Arizona’s real estate freefall remain unsold.  Photo by Linda Bentley

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