Domestic Master Planned Communities

Estrella

Goodyear, AZ

Estrella is a 19,400 acre master-planned community located in Goodyear, Arizona, a rapidly growing suburb within the Phoenix Metropolitan area. The master plan for Estrella calls for a self-sufficient mixed-use community that currently allows for the development of up to 85,000 residential units intertwined with a complimentary balance of retail, and office/industrial business parks. Estrella is set apart due to its highly amenitized community plan as well as its picturesque Sonoran Desert-setting at the base of the Estrella Mountains and Regional Park.

SunChase acquired Estrella through a disposition venture partnership with the US Government’s Resolution Trust Corporation (RTC) in the early 1990’s. SunChase proceeded to reposition the project’s plan, phasing, financing and infrastructure obligations, while developing a new branding image in order to bring the project back to market for the following real estate cycle.

Between 1994 and 2005 the SunChase team re-negotiated the community’s  entitlements; secured public community facilities district financing; secured institutional financing through GMAC; constructed extensive backbone infrastructure; brought three new residential villages to market totaling over 3,600 residential lots; constructed a nationally-recognized 8,000 square foot home finding/marketing center; developed a state-of-the art multi-million dollar community clubhouse, fitness facility and library; developed a signature Nicklaus Design Championship golf course and clubhouse; developed a 10,000 square foot retail/office building; constructed several other community facilities; and developed a new master marketing program -- turning Estrella into one of the most desirable master planned communities in the Phoenix Metropolitan market place.

In 2005, at the height of the real estate market, SunChase successfully negotiated a bulk sale of the majority of its holdings in Estrella to Newland Communities, setting a record for one of the largest real estate land transactions in the State’s history.

Visit the Newland Communities Estrella website:www.estrella.com