If you need assistance, please call 480-365-8346

Scottsdale developer rolls out plans for $3.6B master-planned community

Friday, January 6, 2023   /   by Juan Grimaldo

Scottsdale developer rolls out plans for $3.6B master-planned community

Red and White Gradient Special Sale Discount YouTube Display Ads.png



Scottsdale-based El Dorado Holdings Inc. has plopped down $82.7 million for 4,150 acres of vacant land at a time when the economy has caused land deals to come to a screeching halt.

Plans call for developing a master-planned community that will include 12,000 homes as well as commercial space, including industrial and retail, on the site that's an hour's drive southeast of Phoenix.

Currently called Merrill Ranch, the project represents between $600 million and $700 million in infrastructure costs and $3.6 billion in home sales, said Jim Kenny, a partner with El Dorado Holdings.

The two parcels are within the town of Florence, near growing employment hubs in the area, including Procter & Gamble's manufacturing plant and Nikola's factory in Coolidge as well as Lucid Group Inc.'s (Nasdaq: LCID) campus and Taiwan Semiconductor Manufacturing Co.'s semiconductor suppliers in Casa Grande.

The proximity to Phoenix-Mesa-Gateway Airport in Mesa and its growing employment hub also was a reason this area appealed to Mike Ingram, founder of El Dorado Holdings.

To continue reading, click here

By Angela Gonzales - Senior Reporter, Phoenix Business Journal




Click buttons.png

The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395
480-365-8346

© 2023 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Juan Grimaldo - Keller Williams Realty Professional Partners - The Grimaldo Group (WINBACK) are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. February 7, 2023
This site powered by CINC: www.cincpro.com