Investment Overview

Western Maricopa County is in the path of significant development led by the most noteworthy Master Planned Communities, Belmont, a ±25,000-acre Master Planned Community owned by Microsoft founder Bill Gates’s investment group to design a cutting-edge “Smart City”. They plan to have 3,800 acres for commercial and retail uses; 470 acres for public schools; and 80,000 residential units. It is comparable in size to Tempe, Arizona. Just to the directly north of Belmont is Teravalis. Formerly known as Douglas Ranch, Teravalis is a ±37,000-acre master planned community recently purchased by the Howard Hughes Corporation. Here the developers intend to develop over 100,000 homes, having 300,000 residents and up to 55 million square feet of commercial developments. The site is located in western Maricopa County, the largest county in the state by population. More than half of the state’s population lives in Maricopa County, which includes Phoenix, Mesa, Glendale, Scottsdale, Tempe, Chandler, Peoria, and Gilbert. The Arizona Commerce Authority notes that the county is home to a growing high-tech industry, manufacturing and agricultural industries, 15 institutions of higher learning, including Arizona State University and the Thunderbird Garvin School of International Management; 5 major sports teams; and Sky Harbor International Airport, the fifth busiest in the world with over 1,300 daily flights.