Phoenix firms partner on deal to build 400 homes in northern Arizona

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Posted at 8:49 AM, Sep 23, 2020
and last updated 2020-09-23 11:49:54-04

Mandalay Homes and Mosaic have embarked on a $100 million agreement to build 400 homes in northern Arizona.

The two Phoenix-based companies are focusing in northern Arizona, where housing supply is decreasing while pricing is rapidly increasing, said Salman Ahmad, founder and CEO of Mosaic, a construction technology company he formed in 2015 to help make the homebuilding process more efficient, scalable and adaptable.

Under this agreement with Mandalay Homes, Mosaic has begun building homes in the Prescott Tri-City area, which includes Prescott, Prescott Valley and Clarkdale.

With its own construction crews, Mosaic is hiring 80 people to expand.

Read more from the Phoenix Business Journal.