By admin 
Tri Pointe Homes and PulteGroup have closed on the final parcel of land at the 1,200-acre Aloravita master-planned community in Peoria.
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Back in October 2024, the two giant builders were the winning bidders for a 274-acre parcel near 83rd Avenue and Happy Valley Road, securing the parcel for $63 million.
As the winners back then, the builders received a certificate of purchase, and only had to pay interest on the land until closing the deal nearly two years later on June 5.
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Behind the scenes, the homebuilder joint venture has been obtaining necessary entitlements from the city of Peoria to develop the property.
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Read more of this story from the Business Journal.