PHOENIX, AZ – Howard Hughes Corporation plans to create the “City of the Future” after recently acquiring the Douglas Ranch project for $ 600 million. © Provided by Patch HHC and former Phoenix Suns owner Jerry Colangelo, Tuesday announced the launch of Douglas Ranch, a new large-scale master plan in the West Valley of Phoenix. Load Error Covering nearly 37,000 acres in the country’s fastest growing metropolitan area, Douglas Ranch is expected to have 100,000 homes; 300,000 residents and 55 million square meters of commercial space. “To ensure the success of Douglas Ranch, we chose The Howard Hughes Corporation for their unique ability to build exceptional communities, implement best-in-class best-in-class practices on a significant scale on new platforms, and quickly deliver bespoke solutions, according to The Howard Hughes Corporation was looking for ways to help companies move, ”said Colangelo. “As we prepare to start selling homes, we are delighted that Douglas Ranch has joined the ranks of the Howard Hughes communities, some of the most desirable places in the country to live, work and thrive.” With this acquisition, The Howard Hughes Corporation now operates the largest portfolio of large master plan communities in the country at over 100,000 acres, including Summerlin® in Las Vegas and The Woodlands® and Bridgeland® in the greater Houston area. The company also operates acclaimed mixed-use developments including Downtown Columbia®, MD, the Seaport in New York City, and Ward Village® in Honolulu. “We are excited to partner with JDM and El Dorado to create the leading master plant community in the western United States,” said David O’Reilly, chief executive officer of Howard Hughes Corporation. “The Douglas Ranch will be a model for forward-thinking development, offering an exceptional lifestyle built on a robust economic foundation – and incorporating best practices from across our national portfolio to drive environmental priorities and technological innovation.” The Douglas Ranch is strategically located the trail of significant growth from Phoenix in the West Valley and has direct access to I-10 via the Sun Valley Parkway. In addition, the Douglas Ranch is near the future location of Interstate I-11, which has been approved by Congress and is expected to cause $ 30 billion to $ 60 billion in economic impact in the area. The I-11 will connect Phoenix, Las Vegas and Southern California and eventually establish a new trade route between Canada and Mexico via Idaho, Arizona and Nevada. “Douglas Ranch will be a catalyst for growth, a business boon for Arizona, and an ideal strategic addition to our HHC portfolio,” said Jay Cross, president of Howard Hughes Corporation. “As we design our cities of tomorrow and deliver the new urban experiences that people and businesses are looking for today, we are designing communities with urban facilities and smart infrastructure that will begin sales of residential properties at Douglas Ranch in the first half of 2022.” Read more Show complete articles without the “Read More” button for {0} hours.
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