Surprise, Surprise
A wave of excitement is sweeping through Surprise, Arizona, as a group led by Scott Seldin, a minority owner of the Phoenix Suns, has made a cash investment of $47.2 million in nearly 1,000 acres of land. This deal positions the Sunhaven master-planned community for significant development, benefiting from the area’s rapid growth and proximity to key infrastructure projects like the proposed BNSF Railway complex.
The Big Picture
This land purchase includes 917 acres acquired from MCS Capital and 52 acres bought from Lennar Corp. The smaller parcel is crucial, slated for a wastewater treatment plant and water campus to support future growth in the northwest Valley.
- $45 million deal negotiated with MCS Capital.
- $2.3 million Lennar transaction finalized for essential utilities.
- The wastewater facility anchors infrastructure for future development.
These moves set the stage for residential and commercial growth in an area already booming with activity.
Also Read: Scottsdale City Council Approves Mercado Village Condo Project
Spotlight On Sunhaven: 2,200 Acres Of Potential
The Sunhaven master-planned community, spanning 2,200 acres, is poised for massive residential development. With three separate ownership groups, including Seldin’s, the area could add thousands of homes.
- Seldin’s land can support 2,500 homes.
- TerraWest Communities owns 311 acres for 1,600 units.
- Montage Holdings holds 547 acres for 1,450 homes.
- Infrastructure investments pave the way for growth.
The collaboration between these stakeholders could transform Sunhaven into a bustling residential hub in Surprise.
Also Read: Homebuilders Snap Up 300 Acres In Peoria For New Communities
TSMC & Rail Projects Drive Demand
The need for housing in the northwest Valley is bolstered by major economic projects like the Taiwan Semiconductor Manufacturing Co.’s $60 billion factories and BNSF Railway’s $3.2 billion rail complex.
- Strong employment growth is projected in the area.
- Rail crossings improve access to Sunhaven and nearby developments.
- Builders already show strong interest in the region.
These factors combine to create a prime market for homebuilders, with opportunities for single-family, medium-density, and multifamily housing.
Also Read: Another Land Deal In The Scottsdale Road & Loop 101 Corridor
Seldin’s Strategic Moves
Scott Seldin’s Kent Circle Partners has a history of turning well-chosen land purchases into valuable developments. Past successes include selling land for the $1 billion VAI Resort and master-planning industrial parks in Goodyear.
- Decades of experience in Arizona real estate.
- Focus on growth corridors and infrastructure readiness.
- Key developments include resorts, data centers, and industrial parks.
With Sunhaven, Seldin’s team continues to capitalize on the intersection of opportunity and growth.
Also Read: New ‘City Within A City’ Taking Shape Around TSMC In Phoenix!
The Road Ahead For Surprise
The addition of water and sewer facilities is a game-changer for the Sunhaven community and surrounding areas north of the CAP canal. This infrastructure will unlock the potential for rapid residential and commercial development.
As Surprise blossoms into a key growth hub in Greater Phoenix, these strategic investments signal a bright future for the city and its new master-planned communities.