Discover Exciting New Developments and Communities in Greater Phoenix Metro

by Eric Ravenscroft, CRS

Explore New Communities and Exciting Developments in the Greater Phoenix Metro Area: Your #1 Source for Comprehensive Arizona Real Estate News and Updates!

Maricopa County Leads U.S. in Economic Growth 2023-2024

Maricopa County has been ranked No. 1 in the nation for economic growth over the past year, driven by significant job creation and business investments. Site Selection magazine, assessing U.S. counties based on projects, investments, and job creation from January 2023 to March 2024, placed Maricopa County ahead of major metropolitan areas like Houston, Atlanta, and Dallas. This ranking highlights the county's successful funding and workforce training through its In Demand Industry Prioritization program. Community and business leaders have worked to create a favorable business environment, attracting over 50 companies, generating more than 7,900 jobs, and securing $8.4 billion in capital investments. Major projects include Taiwan Semiconductor Manufacturing Co.'s $65 billion campus and LG Energy Solution's $5.5 billion battery complex, supported by federal CHIPS Act funding. With Phoenix leading the U.S. in manufacturing growth, driven by 14 major projects since 2020, Maricopa County continues to attract businesses due to its robust infrastructure, workforce, and community development focus, positioning it as a prime location for future investments.

Massive Investment to Transform Goodyear, AZ with Billions in Development

Goodyear, Arizona, is poised for significant development, thanks to the investments by prominent developers who are targeting this fast-growing area. Two major firms are set to invest over $3 billion in housing and commercial space around the future State Route 30, a 29-mile reliever to Interstate 10 expected to boost economic development in the West Valley. These projects could bring more than 10,000 jobs and thousands of residential units to Goodyear. Among the notable developments is the nearly 7 million-square-foot Goodyear AirPark industrial campus, representing a $1 billion investment with the potential to create 13,000 new jobs. Additionally, the 20,000-acre Estrella master-planned community will see further expansion, while the upcoming King Ranch project will introduce 5,100 homes and 120 acres of commercial space. These initiatives, supported by strategic city planning and robust infrastructure, position Goodyear as a prime location for future investments and sustained growth.

Major Homebuilder Acquires 243 Lots for New Community at White Tank Mountains

A prominent homebuilder recently paid $14.56 million for 243 lots at the base of the 38,000-acre White Tank Mountains. The transaction closed on July 10 and was brokered by a Scottsdale-based firm. Significant growth in the area is driven by job creation along the 303 in Buckeye and near TSMC. The lots are shovel-ready, with grading set to begin immediately. Of the 243 lots, 40 will be extra-large with attached RV garages. Homes, priced from $450,990 to $786,990, will range from 1,850 to 3,217 square feet, with sales expected to start next year.

The new community, White Tank Vistas, is located at Northern Avenue and Beardsley Canal Road, about four miles west of Loop 303. The homebuilder recently completed two nearby communities, Azure Canyon and Aria Ranch, and continues to expand in the area. The White Tank mountain range, a preserve with trails and waterfalls, borders the new development.

In addition to these 243 lots, the homebuilder is developing 1,473 lots throughout metro Phoenix, with four new communities set to open this year. These developments will more than double the company's presence in the Valley after selling 759 homes in 2023.

Luxury Townhomes Coming to Scottsdale’s Cavasson Development by Toll Brothers

Toll Brothers Inc. has applied to develop 136 luxury townhomes, called Toll at Cavasson, on an 11.27-acre site within the 135-acre Cavasson development in Scottsdale. This mixed-use area, developed by Nationwide Realty Investors, includes offices, hotels, restaurants, and multifamily residences. The new townhomes will feature individual garages, private outdoor spaces, and community amenities such as a swimming pool, fire pit, and game lawn. With 54 guest parking spaces, the development aims to meet the growing demand for diverse housing options in the area.

Nationwide Realty Investors acquired the land for $83 million in 2018. Toll at Cavasson will be located northwest of existing office buildings that host several major employers. Recent leases at the Cavasson East office building include Osaic, which is taking 29,000 square feet. The entire Cavasson development is projected to be worth over $1 billion upon completion, with significant progress already made as of May 2023.

 

For the latest information on upcoming developments in the Greater Phoenix Metro, visit our 'News, Updates, and Coming Soon' page for weekly updates. Stay informed about what's happening in your neighborhood, city, or area of interest. Book a time with me below to learn more and discuss in detail!

 

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About the Author

 

Looking for a dedicated real estate professional in Arizona? Meet Eric Ravenscroft, your trusted expert passionate about helping you navigate the real estate market. With over 14 years of experience in real estate and financial planning, Eric is committed to providing unparalleled service and guidance.

 

Whether you're searching for a new construction home, exploring investment opportunities, or planning for your financial future, Eric brings the expertise and dedication to help you achieve your goals.

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