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Funding for the new venture has been secured withJEN Partners, a New York-basex private equity firm. Joseph Carl Homees will focus on finishing existing developmentsz in the Phoenix area that have come to a halt because of the tankedhousing “We believe the Phoenix market is ready for the building of high quality homes at appropriate market pricesx and will be well-serveed by a locally based, regional builder that can provide customerss with more homes at attractive Mulac said. The first development that Josephu Carl Homes will build in is an infill Arboleda Ranch at 29th Streef and Baseline Road near South Mountain according to the statementreleasecd Wednesday.
The company plans to builf homes that are moderately pricedfrom 1,200 to 4,0009 square feet in size. Mulavc previously oversaw Engle Homesin Phoenix. That Florida-based companyh is going through Chapter 11 reorganization and let go most of itsArizonq staff.
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