Development estimated to create upwards of $60B in economic impact at buildout
By Angela Gonzales | Phoenix Business Journal
Jerry Colangelo — former owner of the Phoenix Suns and Arizona Diamondbacks — is known for thinking big.
So it’s no surprise he’s planning a 37,000-acre master-planned community in the West Valley that will include 119,000 homes and 59 million square feet of commercial and retail space. He estimates the project will cost $8 billion to $10 billion to develop over the next 25 years and become home to 300,000 residents.
JDM Partners LLC and El Dorado Holdings Inc. are partnering on the project, called Douglas Ranch, which Colangelo said will be the largest planned community in the western U.S.