News Brief

Fannie Mae Takes More Direct Control of Civano

Fannie Mae, which now owns 84% of the unsold property at

Civano, the planned eco-community in Tucson, Arizona, is moving to take more direct control of the project by buying out developer and project president Kevin Kelly. After the deal is completed (most likely in December), Kelly will stay on for six months as a consultant to the project before moving on. He hopes eventually to initiate more projects of this type around the country. Kelly’s staff is expected to stay on at Civano under the new leadership. Civano’s first neighborhood is now under construction and over 200 homes have sold, according to Kelly.

Published November 1, 1999

(1999, November 1). Fannie Mae Takes More Direct Control of Civano. Retrieved from https://www.buildinggreen.com/newsbrief/fannie-mae-takes-more-direct-control-civano

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