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A couple of decades ago, when Arizona's real estate market was collapsing, Nariman Afkhami, CEO of Aread Inc., bought 1,000 acres in the far southeast Valley.

Now, growth is catching up to the master-planned Magma Ranch community he's developing in Florence that will boast 3,150 single-family homes upon completion. More than 1,000 lots have been approved for development and another 1,000 are left to be sold to homebuilders.

Aread's development is part of a wider trend of homebuilders circling the San Tan Valley area. Homebuilders working in the area include Dream Finders, KB Home and Mattamy Homes, which is on track to more than double its Valley footprint.