Nearly 1,000 acres of the sprawling Red River Ranch property once owned by Hollywood icon John Wayne sold to a developer planning to build a massive master-planned community that could contain tens of thousands of homes.
CLB Real Property Holding Co. LLC, an entity tracing to Tempe-based W Holdings, paid $29 million for 925.46 acres to a partnership between Scottsdale-based El Dorado Holdings Inc. and Robson Communities Inc., according to Tempe-based Vizzda LLC.
CLB Real Property Holding will develop the master-planned community, which is south of the city of Maricopa, said Carson Brown, principal of CLB. Maricopa is the third-fastest growing city in the Phoenix metro, increasing its population by more than 30% between 2020 and 2024 to 76,654, according to Phoenix Business Journal research.
It’s highly likely the community will be named Red River Ranch, Brown said.
By Angela Gonzales | Phoenix Business Journal (abridged) READ MORE at Phoenix Business Journal
