By Angela Gonzales | Phoenix Business Journal
About 20 years ago, Jerry Colangelo and his partners at Phoenix-based JDM Partners LLC wanted to buy 33,000 acres from U.S. Steel Pension Fund.
“It was sitting there, and we were trying to look ahead,” Colangelo said. “We kept trying to inquire about the possibility of buying their property.”
Their goal: to develop a master-planned community called Douglas Ranch west of the Valley that would rival any Phoenix suburb in size.