Jerry Colangelo has never been accused of thinking small. For that matter, he’s never been accused of being a business failure either, though it seems for many, failure is a prerequisite to success.
If Jerry’s latest project comes to fruition, it has the potential to change the entire makeup of the Valley.
Douglas Ranch is a proposed 37,000 acre planned community in the West Valley (read: Buckeye) which could start residential construction within 18 months.
According to Colangelo, Douglas Ranch would be the largest community in the Western United States with 119,000 homes and 59,000,000 square feet of commercial, office and retail space. At buildout over 25 years, it could house 300,000 residents.
“When you add the I-11 proposed interstate that would connect Las Vegas and Phoenix, you’re looking at a project that would create $30 to $60 billion of economic impact,” said Colangelo, who is a partner with Phoenix-based JDM Partners, one of the largest land owners in metro Phoenix.
Not long ago Bill Gates bought into a 24,000 acre project called Belmont, coincidentally running through the future I-11 corridor near Buckeye for $80,000,000 – chump change for Gates – all in a days wages. Belmont could include 80,000 homes, 3800 acres of industrial, office and retain space.
These are just two possible West Valley communities that if developed will change the Valley, especially the West Valley. We’ll see hundreds of other communities springing up as well in the years to come. Success breeds success.