In part two of our developer update series on partnerships, Dave Bulloch, Prescott division president – Capstone Homes and Ecco Homes, and Jason Gisi, president and CEO of Arizona Eco Dev (AED) and Jasper Eco Dev (JED) talk about how they met and how ECCO homes came to be. Plus, you’ll find out what you can expect in Phase 3.
Capstone Homes joins Jasper
The collaboration began when Jason was introduced to Dave though a mutual connection. JED and Capstone share a mutual vision for creating high-end homes in Prescott Valley, a bold move considering the plan to build houses priced over $1 million.
Dave expressed a deep appreciation for the opportunity to be part of Jasper’s vision. He recognized JED was crafting a unique community in Prescott Valley and was eager to contribute to making that vision a reality. The partnership is about more than just building homes; it’s about taking the investment made by JED and turning it into a tangible, thriving community.
Why ECCO Homes?
ECCO Homes emerged as an innovative solution to challenges in the market. JED’s initial plans were to entitle the property, secure the necessary water rights, and sell the lots to a public homebuilder. When the market showed hesitation, JED decided to pivot and sell finished lots to reputable homebuilders — Mandalay and Capstone. Fast forward to now, JED created a new entity with Capstone Homes — ECCO Homes — that will ensure Jasper always has a diverse, quality home product to offer potential buyers.
Dave was enlisted by Capstone Homes to lead ECCO homes and the local Capstone division. He was drawn to the entrepreneurial aspect of building a new company. The venture offered the chance to leverage his experience while exploring new opportunities. ECCO Homes focuses on a culture of transparency and authenticity, setting a new standard in home quality and buyer experience.
With strong capital backing and a significant land position, ECCO is set to become a premier homebuilding company in Yavapai County. Their first community, Skyview, and their involvement in Phase 3 of Jasper are just the beginning of their journey.
What you'll see in Phase 3
One of the most anticipated features of Phase 3 is the connectivity between Jasper Parkway and Highway 69. Residents will gain easier access to retail and shopping. Estimated completion of this new section of roadway is in October.
Ecco Homes and Capstone Homes will be the only homebuilders in Phase 3. There will be three model homes from each builder with dedicated sales offices. Ecco Homes will offer homes catering to buyers in the middle of the market while Capstone Homes will offer larger, higher-end homes. Numerous lots in this phase will have “forever views” thanks to permanent open space.
Notable takeaways
Landscape
Yavapai county is still seeing a shortage in the availability and quality of bushes, shrubs, and trees. JED is continuing to put pressure on the builders to complete landscaping in their areas.
JED has removed two areas of grass, with another two areas to be removed soon. The goal is to balance association dues with the cost of maintaining landscaping.
Where do the subsidies come from?
Since December 2022, JED has invested around $1.5 million in subsidies to support Superb Food Co., the J Club, and the Jasper Community Association (JCA). The investment is an operational cost to enhance the community experience and attract buyers to Jasper.
A considerable portion of the subsidy goes into maintaining the food and beverage offerings at J Club. The monthly expense ranges from $30,000 to $50,000 to keep Superb operational. The goal is to eventually expand to offer a year-round dining experience, but the capital needed to do this isn’t available just yet.
Why is the J Club privately owned?
J Club is a privately owned entity rather than being owned by the community association. This structure allows JED to maintain the club to a specific level of standards that align with their vision for Jasper. There are no plans to hand over control to the association anytime soon.
Additionally, this structure provides flexibility for the J Club to offer non-resident memberships to help subsidize losses. Having more people using the facility and purchasing services offsets costs to members and the owners.
What's the status of homesales?
Home sales experienced a slowdown last quarter, primarily due to high interest rates and the upcoming elections. Despite these challenging market conditions, Jasper is on pace to sell 120 homes in 2024.
Looking ahead
As Jasper continues to grow and evolve, it’s clear that JED’s vision and strategic planning are paying off. From the thoughtful partnerships with homebuilders to the premium amenities, every effort is made to create a unique and vibrant environment for Jasper residents. Despite market challenges, Jasper remains a sought-after community for those seeking a quality lifestyle and forever home.
Stay tuned to your inbox for the next developer update.
Previous developer updates
2024
2023
November 16, 2023
June 21, 2023
April 10, 2023