Yet-to-be-named project will be in the Prasada master-planned community
Toll Brothers Inc. is grading 800 acres to pave the way for 2,200 homes in Surprise, a rapidly growing suburb northwest of Phoenix.
The $250 million project is within the 3,200-acre Prasada master-planned community being developed by a partnership composed of Salt Lake City-based Suburban Land Reserve Inc., Macerich Development, WDP Partners and RED Development. That entire development is on both sides of Loop 303, between Greenway Road and Peoria Avenue.
The plan is to begin sales in January 2020, said Bob Flaherty, Arizona division president for Horsham, Pennsylvania-based Toll Brothers (NYSE: TOL).