Henry Walker Homes acquires Saratoga Springs development
Henry Walker Homes and sister company Strategic Capital Group have announced the acquisition of the largest portion of Fox Hollow, a 3,230-unit residential development in Saratoga Springs.
The deal with California-based Pacific Western Bank gives Henry Walker approximately 300 acres at Fox Hollow, including 250 improved single-family lots, 420 unimproved lots and 20 acres zoned for high-density multifamily and commercial use. The original developer was BTS Investments, based in Orem.
Work on the 1,035-acre master-planned community previously stalled because of economic and market conditions. The homebuilder is working with Saratoga Springs City and other landowners within the Fox Hollow project to reach a long-term extension of the development agreement.
Henry Walker will manage the development and serve as the primary homebuilder.
"During the housing boom, Saratoga Springs was one of the fastest-growing cities in Utah," said John Stubbs, president of Henry Walker Homes. "Fox Hollow has an advantage over other subdivisions due to the number of improved lots. We are confident Henry Walker Homes will bring significant development expertise to complete the development."
Centrally located 30 miles southwest of Salt Lake and 30 miles northwest of Provo, the development features transportation access to Pioneer Crossing and the 2100 North section of the Mountain View Corridor, providing faster access to the Point of the Mountain area and the Salt Lake Valley.
Founded in 2009, Henry Walker Homes is among Utah's largest homebuilders, with 40 development communities and more than 2,500 lots in Salt Lake, Davis and Utah counties and St. George. The principals of Henry Walker Homes have been in the home building industry for over 30 years and have been instrumental in the construction of thousands of homes in Utah.
Strategic Capital Group is a full-service real estate investment and development company, headquartered in Centerville.
Collectively, the two firms represent one of the largest real estate developers in Utah.