Howard Hughes Corp. and Jerry Colangelo are planning to deliver a massive new masterplan community in Phoenix. The duo have unveiled plans for Douglas Ranch, a 37,000-acre community with 100,000 homes housing 300,000 residents and 55 million square feet of commercial development in the West Valley.
The developers are planning to create a leading sustainable and technology-forward development. Howard Hughes Corp. purchased the shovel-ready site from JDM Partners for $600 million, and the project will add new asset classes, including single-family rentals and industrial, to the company's portfolio.
Howard Hughes Corp. has the largest portfolio of large-scale masterplanned communities in the country. It is known for employing a self-funding business model. With the exception of 1,000 for-sale home lots, the same strategy is at work at Douglas Ranch.
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Kelsi Maree Borland
