The Howard Hughes Corp. (NYSE: HHC) has plopped down $600 million for the proposed 37,000-acre Douglas Ranch master-planned community in Buckeye.

The proposed development — 35 miles from downtown Phoenix on the west side of the White Tank Mountains — is expected to have 100,000 homes, 300,000 residents and 55 million square feet of commercial development.

Scottsdale-based El Dorado Holdings Inc. and Phoenix-based JDM Partners — which sold the vacant land to HHC, will still maintain a 50% stake in Trillium, the 3,300-acre master-planned community designed as the gateway into Douglas Ranch.

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By Angela Gonzales, Senior Reporter - Phoenix Business Journal