The Rancho Viejo HOAs – Windmill Ridge

The development of The Village at Rancho Viejo was completed in 2010.  However, due to the 2008 economic crash, Pinnacle West decided to divest its interest in the real estate development business and liquidate all of its landholdings under development.
             
In order to save Rancho Viejo, RVLP entered into a partnership with Univest, a Phoenix investment and development company to form Univest-Rancho Viejo LLC which completed the purchase of Rancho Viejo from SunCor in December 2010.   Univest-Rancho Viejo LLC also owns Ranchland Utility Company, Estancia Homes, LLC, and Rancho Viejo Properties, LLC.  RVLP and Warren Thompson (son of Leland Thompson, one of the original Rancho Viejo partners) owns an interest in Univest-Rancho Viejo LLC.  In February 2012, SunCor filed for bankruptcy. 
             
As reported in the February 2011 Rancho Viejo South Newsletter:
            
 The future of Rancho Viejo now rests with its past. The remaining development rights as well as the home-building business, architectural plans and infrastructure have been purchased by the same family partnership that first subdivided the area in the 1990s.
             
“The new partnership is called Univest-Rancho Viejo LLC, which closed on the purchase from SunCor in December 2010. SunCor will still service home warranties for perhaps 100 properties.  ‘Warren Thompson, whose father ranched in what is now the 1,200 home Rancho Viejo subdivision, is a principal partner in the new business, which includes a small group of other families,’ said Patrick Thomas, Qualifying Broker for Rancho Viejo Properties LLC. ‘We now believe that we have a uniquely qualified team to lead the community forward,’ Thomas said. The sale includes Ranchland Utility, the sewer system that serves the homes, businesses and schools as well as the 456 approved and platted [mapped out] lots in La Entrada, where 115 homes have now been built. Other platted lots scattered throughout Windmill Ridge were also transferred, said Thomas and any construction on those lots rests with the new company.  In all, the family partnership owns some 22,000 acres that will be managed under Univest-Rancho Viejo with Tom Lowe as the founding partner.          
             
“The sale does not include the commercial building [in The Village]e, which is privately held, while trails, parks, plaza and open space remain the property of the North and South HOAs. The sale also brings to a close the transition issues of the South Association. SunCor paid the South HOA $150,000 to cover future costs related to its common areas and infrastructure.
             
“Q&A: Warren Thompson  By Lee Lefton
             
“Recently, I had an opportunity to speak with one of the new owners, Warren Thompson, about the history and recent purchase of Rancho Viejo.
             
“Q: How & when did Rancho Viejo start?
             
“A: Back in 1981, my father, Leland Thompson, Jr. and three of his friends set up The Rancho Viejo Partners, LLC, and bought the Jarrott Ranch from the estate of Bernice Jarrott Lord. In 1996, the land sold to SunCor, Inc. 
            
 “Q: What company bought Rancho Viejo from SunCor?
             
“A: Univest-Rancho Viejo LLC, a real estate development company made up of a group of original Santa Fe landowners and principals of Scotts- dale, Arizona-based Univest.
             
“Q: What is their vision?
            
 “A: Rancho Viejo is an outstanding property. We want to see it grow while maintaining the tradition of community that fulfills the desires of current and future residents.
             
“Q:   Who will be handling new home sales?
             
“A: A new, local firm, Rancho Viejo Realty Co. A separate homebuilding company, Estancia Homes LLC, will be on-site at the community.
             
“Q:   Will the existing staff stay part of that team?
             
“A: Yes. We want to maintain continuity. Patrick Thomas, the Qualifying Broker for the past eleven years, will remain in that role for the new company.
             
“Q: What are you doing now?
             
“A:  Sailing in the Caribbean.” 
             
According to a January 19, 2011 Santa Fe New Mexican article, “The development has some 1,200 homes as well as parks, playing fields and a central plaza. There are three separate homeowner associations that own all of development's open spaces, recreational areas and six-plus miles of trails. These areas are not included in the transaction.”
             
Bruno Keller, president of the Rancho Viejo North Homeowners Association is quoted as saying "We hope some of the past plans as presented to us now will be completed by the new owner."
             
The article went on to report that although home sales have slowed in recent years nationally Rancho Viejo still had forty-one sales of new homes in 2010.
           
The August 2014 Rancho Viejo South Newsletter reported:
             
Univest-Rancho Viejo LLC is restarting the development of Rancho Viejo begun by the previous developer, SunCor Inc.  Changes that occurred during the later stages of SunCor’s tenure, the ultimate liquidation of SunCor and the Rancho Viejo property by Pinnacle West Capital Corporation, and problems with the restart process have collectively been a major shock to Rancho Viejo’s development and have created considerable frustration for Rancho Viejo residents.”
             
And in the December 2014 Issue of the Rancho Viejo Round Up newsletter the “What’s Happening at the Rancho Viejo Sales Office” column announced “WE ARE EXCITED to announce that Rancho Viejo Properties has recently sold out of developed production lots in Windmill Ridge Phase IV, with the final completion of homes expected March, 2015. We have released 41 new lots in La Entrada to continue the completion of La Entrada Phase One.  To date, we have closed a combined total of 31 homes in Windmill Ridge and La Entrada with a couple more closings by end of 2014.We will continue to build through the Holiday season as we have 12 new homes on the books for 2015. Seven of those homes yet to be built will be in La Entrada.”
             
The same newsletter also reported that according to the Santa Fe County Sheriff’s office that Rancho Viejo was the safest community in the county.

           






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