Phoenix Real Estate News & Updates: Peoria's Growth, Verrado Expansion, and Major Developments in 2025

Explore the Transformations Shaping Phoenix’s Vibrant Future

The Phoenix metro area is undergoing a remarkable transformation, with major projects reshaping the region and creating new opportunities for growth and investment. Peoria is taking the lead with its landmark Peoria Innovation Core, a 6,700-acre development along the Loop 303 corridor, set to generate thousands of jobs and billions in revenue. Nearby, three major builders—Shea Homes, Lennar, and Toll Brothers—are developing a 700-home master-planned community, while Verrado in Buckeye expands with new neighborhoods, high-end amenities, and record-breaking home sales.

From Mayo Clinic’s state-of-the-art Discovery Oasis biotech hub in north Phoenix to the revitalization of the iconic Metrocenter Mall into The Metropolitan urban village, the region is a hub for innovation, family-friendly communities, and dynamic economic growth. Adding to the excitement, downtown Gilbert’s Heritage Park is introducing vibrant dining concepts by Flagship Restaurant Group, blending culinary excellence with community living. Whether you're a homebuyer, investor, or local, the Phoenix metro is the place to watch for its ever-expanding opportunities and unparalleled quality of life.

Peoria’s Landmark Development Deal: Why It’s the Best Place to Invest in 2025

Peoria has positioned itself as a top destination for growth and investment with a groundbreaking agreement between the city and the Arizona State Land Department to develop 6,700 acres in the Peoria Innovation Core (PIC). This 10.5-square-mile area along the Loop 303 corridor will see a $140 million initial infrastructure investment, targeting industries like semiconductors, aerospace, and advanced manufacturing. With thousands of new jobs, quality restaurants, retail, and housing on the horizon, this development is expected to generate hundreds of millions in revenue for the city and $1–1.5 billion for K-12 education, while also enhancing recreational opportunities through open spaces and hiking trails.

Peoria’s forward-thinking approach, including pre-built infrastructure and targeted economic strategies, makes it the premier location to own or invest in 2025. The development will create unmatched access to jobs, amenities, and sustainable growth, all while boosting property values and improving the quality of life for residents. For buyers and investors, Peoria is the place to watch as it transforms into Arizona’s next hub of opportunity and innovation.

Revitalizing Metrocenter Mall: The Metropolitan Brings New Homes, Retail, and Community to Phoenix

The iconic Metrocenter Mall in Phoenix is being transformed into The Metropolitan, a transit-oriented urban village with over 1,000 residential units, retail spaces, parks, and community amenities. Connected to the Thelda Williams Transit Center and light rail, the development features three distinct residential communities: Terra Court (entry-level), Luna Villas (mid-tier), and Brava Garden (luxury). Key highlights include pedestrian pathways with restaurants and shops, a central park with an amphitheater, and a rooftop venue with a pool, pickleball courts, and a restaurant.

Community leaders envision The Metropolitan as a vibrant, inclusive hub for young professionals, essential workers, and downsizing retirees. The project bridges North and South Phoenix, aligning with the area’s growth from advanced manufacturing and technology. Led by Wilshire Capital and Hines, the redevelopment stays true to the city’s vision of revitalizing the area as a thriving community centerpiece.

Inside Mayo Clinic's 120-Acre Biotech Hub: A Bold Vision for Global Innovation in Phoenix

Mayo Clinic is advancing plans for its 120-acre Discovery Oasis biotech innovation hub in north Phoenix, aiming to attract global companies in biotech, life sciences, and healthcare innovation. The first construction project will commence in the northwest section of the campus near the 56th Street exit off Loop 101, encompassing 37 acres. This area will feature higher-profile developments, while the adjacent north-central section will focus on lower-density manufacturing for medical devices. The northeast section, spanning 44 acres, is slated for later development.

The hub will include new Mayo facilities, including a 60-bed rehabilitation hospital co-developed with Brooks Rehabilitation Hospital, set to open in 2026. Mayo Clinic's zoning application was approved by Phoenix City Council in October 2023, securing a planned unit development for the site, part of a 228-acre parcel purchased in 2021.

Discovery Oasis has garnered strong international interest, with companies recognizing its vision and potential. Mayo Clinic expects the northwest section to mirror the scale of Scottsdale's Skysong development, though full development will unfold over many years. A developer for the entire campus will be selected by year-end 2024.

Verrado Expansion: New Homes, Record Sales, and Exciting Developments in Buckeye, AZ

The Verrado master-planned community in Buckeye is experiencing significant expansion, with David Weekley Homes investing $39.79 million to acquire 329 lots in Victory at Verrado. While 171 lots were sold to William Ryan Homes and K. Hovnanian Homes, David Weekley retained 158 lots to introduce new home designs featuring elevated views and ranging from 2,500 to 3,700 square feet. Phase 10 is set to launch in 2026, adding to the growing development pipeline that includes Phase 9 next year and the upcoming Regent Hills neighborhood in late 2025. Verrado spans 8,800 acres and could include 14,080 homes and 4 million square feet of commercial space at full buildout.

With home prices ranging from $300,000 to $1.3 million and a record-breaking custom home sale of $4.2 million, Verrado continues to attract buyers. The community’s design, mountain backdrop, and high-quality amenities solidify its status as one of metro Phoenix’s top destinations for residential and economic growth. David Weekley Homes remains committed to the area's future, having participated in every phase of Victory at Verrado's development.

Major Homebuilders Join Forces for $47M Peoria Land Deal: 700-Home Community Coming Soon

Three major homebuilders—Shea Homes, Lennar Corp., and Toll Brothers Inc.—joined forces to acquire nearly 300 acres of Arizona state land in Peoria for $46.89 million during a Nov. 25 auction. The land, located at the northeast corner of Dixileta and Litchfield Road, will host a master-planned community featuring seven neighborhoods with approximately 700 homes, slated for completion between late 2027 and early 2028.

Lennar will develop over 300 homes, including its NextGen multi-generational designs, while Shea Homes and Toll Brothers will split the remainder of the site. Plans include a mix of larger home sites and diverse offerings to cater to growing demand driven by nearby employment opportunities like the $65 billion Taiwan Semiconductor Manufacturing Co. plant in north Phoenix.

The northwest Valley, particularly Peoria, has become a hotspot for housing due to job growth and its family-friendly appeal. This project adds to Shea Homes’ 12 active communities in metro Phoenix and Lennar’s 48 developments, further cementing the area’s reputation as a desirable place to live. The land purchase uses the state's certificate of purchase option, allowing builders to work on zoning and entitlements before finalizing the deal.

Procter & Gamble's $500M Manufacturing Hub in Arizona: What to Expect in Coolidge's Growing Industrial Scene

Procter & Gamble Co. is advancing infrastructure work for a $500 million manufacturing campus in Coolidge, Arizona, but a construction start date has not been announced. The 2-million-square-foot project, initially slated to be operational by 2025, will focus on fabric care brands like Tide PODS, Downy Unstopables, and Bounce. P&G has invested $53 million to acquire 430 acres at Inland Port Arizona, near Nikola Corp.’s facility.

The first phase of development, approved by Coolidge's planning and zoning commission, includes a 358,957-square-foot facility with manufacturing, warehouse, and office spaces. The site will require water, power, and rail infrastructure, provided by Global Water Resources and Arizona Public Service, with further approvals needed for rail spur and traffic studies. P&G aims to establish a sustainable, well-sized factory to serve the West Coast, marking its third U.S. site since 1971.

This project highlights Pinal County's growing appeal to manufacturers, joining other developments like Kohler Co.'s recent factory opening.

Heritage Park in Downtown Gilbert Welcomes Flagship Restaurant Group’s Exciting New Concepts

Flagship Restaurant Group, the team behind Blue Sushi Sake Grill, Châm Pang Lanes, and Ghost Donkey, is set to open three new dining concepts in the Heritage Park development in downtown Gilbert. This 10-acre mixed-use project, costing $300 million, will feature retail, multifamily residences, and a park-like area, with construction beginning in early 2025. Flagship’s presence marks a significant addition to Gilbert’s dining scene, enhancing the East Valley’s culinary landscape.

Already active in the Valley, Flagship operates Pyro in Arcadia and three concepts in Roosevelt Row, with Arizona’s first Blue Sushi Sake Grill opening soon in Tempe. CEO Nick Hogan, a University of Arizona alum, plans further expansions in Desert Ridge, Queen Creek, and Goodyear, making Gilbert the next step in the group’s ambitious growth strategy.

Discover Arizona’s Exciting Growth and Opportunities

Arizona is experiencing unprecedented growth across residential, commercial, and industrial sectors. From Peoria's landmark Innovation Core project and major housing developments to Verrado's exciting expansions in Buckeye, the state is redefining community living. Transformative projects like The Metropolitan in Phoenix, Heritage Park in Gilbert, and Procter & Gamble's manufacturing hub in Coolidge further showcase Arizona's commitment to innovation, economic opportunity, and a thriving quality of life..

Curious about how these changes could impact your real estate journey? Let’s connect! Book a consultation to explore how Arizona’s growth can align with your goals and help you make the most of the opportunities ahead.