Buckeye Residential Land Sells For $86M

The principals behind Douglas Ranch in Buckeye, the state's largest master-planned community, purchased the 3,000-acre Trillium project on the Sun Valley Parkway in Buckeye. The price was $86 million, and it closed last week, real estate records show.

Together, these two projects represent more than 90,000 homes, Buckeye planners say. Both projects have large commercial and entertainment components.

"This can't be a bedroom community and we all know that," said Tom Hennesy, Douglas Ranch's general manager.

Developers hope that Sun Valley will be one of the Phoenix area's housing and development growth spots for years to come. Several big developments are either planned or are under construction in the area, including Sun City Festival, Tartesso and one of Pulte Homes' Anthem communities. More...