An extensive amount of land on the western edge of the West Valley has drawn an $80 million investment from a group that includes Microsoft founder Bill Gates’ Cascade Investment LLC. This is a move that could change the region’s (and Verrado’s) future growth and home values.
The group recently bought a significant stake in the 24,800-acre “Belmont” development near the White Tank Mountains, according to property records. With the plans we are hearing for the future of this property, we feel it will push the growth in the West Valley ahead.
Few people live in the area now, but plans for Belmont call for as many as 80,000 homes, 3,800 acres of industrial, office and retail space, 3,400 acres of open space and 470 acres for public schools according to Arizona-based, Belmont Partners, the real estate developer behind the project. The anticipated Interstate 11 is slated to pass through Belmont when completed. The proposed freeway will run from Reno, Nevada, to Mexico. This will open another travel corridor to and from the West Valley which will bring growth as well.
The West Valley it is clearly the expansion direction for the Phoenix Valley. With so much land, amazing views and a closer proximity to California, it holds many opportunities for both investors and families. We expect to see much growth out this way and believe “Belmont” is an indication of the future that is coming to the West Valley. It will be exciting to see the project develop and the other companies and investment groups that follow suit. We live in an exciting time, in an amazing location!
Brennen Kent – Realtor