Rainbow Valley Ranch...

Land coming together for West Valley development, from the Phoenix Business Journal, reports that Scottsdale based Aread Inc. is assembling 2,347-acres of land in the Rainbow Valley area for a future 7,000 lot residential development called Rainbow Valley Ranch. Aread just closed on 1,365 acres of the land for $34.1 million, or about $25,000 per acre. The remaining property is expected to be assembled by 2007. Rainbow Valley Ranch will be exclusively themed master-planned community, surrounded in part by the backdrop of the Estrella Mountains. A mixture of single-family and multi-family housing, commercial and recreational amenities are planned. Aread plans to annex the property into Goodyear and begin selling lots to homebuilders in 2007. Rainbow Valley Ranch is bisected by Riggs Road and is bounded on the north by Chandler Heights Road, on the south by Hunt Highway, on the east by Sarival Road and on the west by Rainbow Valley Road.



http://phoenix.bizjournals.com/phoenix/stories/2006/04/03/daily40.html?t=printable