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Arizona prepares for more than 90,000 housing units as state land auctions surge
Article originally posted on Phoenix Business Journal on Oct 8 2026
Recent sales and zoning actions involving state trust land have created a pipeline for more than 90,000 housing units in Arizona.
Between fiscal 2023 and fiscal 2026, the Arizona State Land Department auctioned more than 7,650 acres of state trust land that are expected to support construction of 31,724 new housing units across Arizona.
During this same time period, the state land department has zoned 11,295 acres of state trust land for residential development. Once auctioned, this zoned land allows an additional 61,174 housing units, according to ASLD.
In August, ASLD reported a record-setting year, generating $817.8 million through land sales and leases in fiscal 2026 that ended June 30.
That’s nearly double the $452.8 million recorded in fiscal 2025.
The massive growth primarily was fueled by high-performing land sales, which more than doubled from $317.6 million in FY 2025 to more than $706 million in FY 2026.
• Scottsdale-based Camelot Homes has unveiled long-awaited details about the luxury homes it will build at the $1 billion Saddleback master-planned community in Peoria.
Called Long Canyon Reserve, Camelot’s enclave will include 19 homes ranging between 3,000 and 5,500 square feet on lot sizes averaging a third of an acre.
Plans call for breaking ground during the fourth quarter of 2026.
The developer of Saddleback is Austin-based Castle Hill Partners, which paid $106.58 million for the 5,300-acre site in 2022.
Miami-based Lennar Corp. (NYSE: LEN) and Scottsdale-based Taylor Morrison Home Corp. were the first two homebuilders to buy in at Saddleback, taking 572 lots in March 2025.
Now, Castle Hill Partners has begun construction on a $10 million amenities project at Saddleback.
A resort-style pool anchors the outdoor recreation zone, surrounded by shaded lounging areas, lush courtyards and a splash pad.
It also will include a 10,000-square-foot event lawn for community events, outdoor lounges, games, grilling areas and a dedicated space for food trucks.
Find Complete Article Here: https://www.bizjournals.com/phoenix/news/2026/10/08/arizona-auctions-state-trust-land-housing-pipeline.html