Goodyear Considers New Development Agreement for 1,800-Acre Site

Article originally posted on Phoenix Business Journal on July 12, 2023

A developer is making big plans to set up a long-vacant property known as King Ranch in Goodyear for future development. The 1,861-acre site is located just south of the Gila River and just across from the Golf Club at Estrella and the Sierra Estrella Mountains.

On July 10, Goodyear City Council considered a new development agreement with a potential buyer and developer for the site, King Ranch 2023 LLC, an entity that’s connected to New York-based Crown West Realty LLC. A vote on the agreement was to be held after a closed executive session but was postponed. Goodyear officials said Tuesday the rescheduled date for the vote has not yet been set.

The company, according to city documents, is expected to acquire the property and also apply to rezone and develop the site. Crown West Realty, which develops residential and commercial locations, did not immediately respond to a request for comment about its plans.

The agreement gives assurance that the city will be able to provide 1,484 acre-feet, or about 483 million gallons annually through its 100-year assured water supply designation instead of requiring the developer to locate renewable water supplies.

Most Valley cities have assured water supply designations, which means they are able to provide 100 years worth of water within their service areas. If a developer secures water through a city, they do not have to obtain a 100-year assured water supply certificate through the state.

The city said in a report that it doesn’t currently have the water supplies to meet the 1,484 acre-foot demand for the property but anticipates that its modified designation will include additional supplies to support development of the site in the future.

Crown West is expected to pay for the reservation of city water supplies over five years, while the cost of each acre-foot if paid in the first two years is $13,300. If the developer pays for the full 1,484 acre feet of water in two years, the cost would total nearly $20 million.

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