Scottsdale Developer Rolls Out Plans for $3.6B Master-Planned Community

El Dorado Holdings, based in Scottsdale, has purchased 4,150 acres of land for $82.7 million in an area southeast of Phoenix, with plans to develop a master-planned community that will feature 12,000 homes as well as commercial space, including industrial and retail. The land, currently called Merrill Ranch, is situated near growing employment centers in the town of Florence, including Procter & Gamble's manufacturing plant, Nikola's factory in Coolidge, Lucid Group's campus, and Taiwan Semiconductor Manufacturing Co.'s semiconductor suppliers in Casa Grande. The proposed North-South Corridor, which will run through the property, would provide quick transportation to these major employment hubs. The development is expected to cost between $600 million and $700 million in infrastructure costs and generate $3.6 billion in home sales. The first homeowners are expected to move in within three to four years, after the planning process has been completed.

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