Lennar teams with commercial developer on state land buy in Peoria

Article originally posted on Phoenix Business Journal on March 4, 2026

Lennar Corp. has received a unanimous recommendation this month from Peoria’s Planning and Zoning Commission for its request to rezone 24.2 acres it won in a 2025 state land auction.

The Miami-based homebuilder was the winning bidder for the prime acreage in the fast-growing West Valley city, where two other commercial developers were outbid in the Arizona State Land Department Auction held last April.

Lennar (NYSE: LEN) plans to build 105 homes on the land at the northeast corner of Lake Pleasant Parkway and Deer Valley Road.

The zoning case is expected to be heard by Peoria City Council in March, said Chris Clonts, vice president of land acquisition for Lennar.

If approved, the community – known as The Cove – will include three floor plans with two-story homes ranging between 1,700 and 2,100 square feet, Clonts said.

Plans call for selling eight of the 24 acres to Florida-based Barclay Group, which will develop about 20,000 square feet of retail on the development.

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