Jerry Colangelo developing ambitious West Valley ‘city of the future’
PHOENIX – The future is finally here – or at least getting closer – for Jerry Colangelo’s ambitious master-planned community in the far West Valley.
The Phoenix sports mogul’s real estate company, JDM Partners, first purchased the Douglas Ranch property in Buckeye in 2002, with an eye toward building a “city of the future” that will be home to nearly 300,000 residents — more than currently live in all but three Arizona cities (Phoenix, Tucson and Mesa).
The joint project of JDM and El Dorado Holdings will cover 37,000 acres with plans for more than 100,000 residential units and 55 million square feet for office and retail use.
“We’re ready to bring 1,000 lots to the market in the next year and a half,” Jim Kenny, El Dorado president, told the Phoenix Business Journal last week.
Colangelo, former owner of the Phoenix Suns and Arizona Diamondbacks, told the website that developing the project will cost between $8 billion and $10 billion dollars over the next 25 years.
“We’ve owned the property for a long time,” he said. “Now we’re in partnership with El Dorado. We’re getting prepared for what’s coming.”
Douglas Ranch is west of the White Tank Mountains and to the north of the developed portion of Buckeye.
The future Interstate 11, which will connect Las Vegas and Phoenix, will run through the community.
Here are some more details about Douglas Ranch from the development’s website:
- It has been designed for 290,000 residents.
- It will have 29 elementary schools and six high schools.
- Approximately 7 acres will be parks/open space.
- The property is generally bounded by Jomax Road alignment on the north, Thunderbird/Cactus Road alignments on the south, 319th to 328th avenue alignments on the east and 379th and 355th avenue alignments on the west.
- Buckeye will provide water and sewer service, and Arizona Public Service will provide electricity.