By Angela Gonzales Phoenix Business Journal
It was a hot year for residential real estate in 2019 as population and job growth fueled demand for new housing projects.
Here’s a look at the biggest news stories this year.
January
Two big real estate developers have teamed to develop 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.
Mike Ingram, owner and founder of El Dorado Holdings Inc., and Jerry Colangelo, partner with JDM Partners LLC, expect the project will cost $8 billion to $10 billion to develop during the next 25 years. Called Douglas Ranch, the development is expected to create a $30 billion to $60 billion economic impact.
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