5,000-acre Goldfield Ranch Northeast of Fountain Hills...

Ellman buying ranch, from the Arizona Republic Scottsdale, reports that The Ellman Cos. is buying the 5,000-acre Goldfield Ranch northeast of Fountain Hills and plans to build as many as 975 high end homes on the site. Zoning allows for one home per 4.4 acres. The project will be called the Preserve. But nearby residents are concerned about where the new development would get water and other necessities. Some are skeptical that the development will ever pan out. The sale of the property is not expected to be final for months.



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