Goodyear, Arizona, February 10, 2026
Harvard Investments has successfully acquired 80 acres of land in the West Valley of Phoenix at a state land auction, enhancing its Rio 1900 master-planned community. This strategic acquisition underscores the region’s rapid economic growth and private investment, making it a hub for both residential and commercial developments. The project envisions up to 5,800 homes and aims to maintain the area’s natural landscape while providing abundant recreational spaces, positioning the West Valley as a key player in Arizona’s economic landscape.
Phoenix
West Valley Secures Future Growth with Latest State Land Auction Win
The latest Arizona State Land Department auction solidifies the West Valley’s reputation as a burgeoning economic powerhouse, as Harvard Investments successfully acquired additional acreage adjacent to its significant Rio 1900 master-planned community. This strategic land acquisition underscores a vibrant period of private investment and entrepreneurial spirit driving robust economic growth across the Phoenix metropolitan area.
Phoenix’s West Valley has become a focal point for development, marked by a dynamic synergy of expansive land availability, strategic infrastructure enhancements, and escalating demand for both residential and commercial spaces. This environment fosters a fertile ground for Arizona AZ entrepreneurs and established firms alike, contributing to a thriving Phoenix AZ business landscape that consistently generates new opportunities and strengthens community ties.
Harvard Investments Expands Vision for Rio 1900
Scottsdale-based Harvard Investments, a developer recognized for creating award-winning properties, was the successful bidder at a recent Arizona State Land Department auction, securing two 40-acre parcels in Goodyear. These parcels are strategically important as they are immediately adjacent to Harvard Investments’ planned Rio 1900 community. This acquisition is expected to enhance the connectivity and overall design of the nearly 2,000-acre master-planned development.
The Rio 1900 project, situated near Estrella Mountain Regional Park along the southern bank of the Gila River, is conceived as a thoughtfully planned 1,940-acre community. Harvard Investments initially acquired the primary 1,864-acre King Ranch property for the Rio 1900 development in 2023 for $22 million. The Goodyear City Council recently approved a minor General Plan amendment and rezoning request for the project, paving the way for its continued development.
The comprehensive plan for Rio 1900 envisions up to 5,800 homes, offering a diverse mix of single-family and multifamily residential options. Beyond housing, the community framework also includes plans for retail, restaurants, and civic uses. A key aspect of the development vision is the preservation of the desert landscape and the widespread availability of outdoor recreation, with a goal that all residents will be within a five-minute walk to a park, trail, or open space. Construction for Rio 1900 is anticipated to commence in 2027, with the first homes projected for delivery in 2029.
Harvard Investments’ involvement in the West Valley extends to Estrella, a 20,000-acre mixed-use master-planned community in Goodyear, approximately 17 miles west of downtown Phoenix. Acquired in a joint venture in 2021, Estrella is home to over 8,300 families and provides a rich variety of amenities, including extensive parks, trails, and lakes.
The West Valley: A Hub of Economic Momentum
The West Valley’s current economic landscape is characterized by remarkable dynamism and sustained growth. Reports indicate the region is experiencing rapid economic expansion, a growing workforce, and significant advantages for attracting and expanding businesses. The population growth rate in the West Valley is twice the national average, with a substantial 65% of its residents being of working age, indicating a robust talent pool for employers.
Major sectors such as advanced manufacturing, including the semiconductor industry, healthcare, and technology, are undergoing robust development. This diversification of industries supports high-quality job creation and fosters a resilient Phoenix small business ecosystem. Significant infrastructure projects, including Loop 303, Loop 202, and the Metrocenter light-rail extension, have greatly improved regional connectivity, making formerly distant areas more accessible for both residents and businesses.
The region’s attractiveness to investors is evident in its real estate activity; the West Valley accounted for 53% of all land transactions across metro Phoenix, totaling $3.234 billion in sales over a recent 12-month period. The area also boasts more than 21 million square feet of industrial space currently under construction. The West Valley continues to lead in residential development, accounting for over 50% of new home permits in the Phoenix metro area. Notably, the median new home prices in the West Valley, at $364,000, remain more affordable than the metro average of $440,000. Additionally, Metro Phoenix saw 4,600 affordable housing units completed between 2020 and 2024, tripling the pre-pandemic volume.
Arizona State Land Auctions Drive Public Benefit
Arizona stands out among Western states for its active strategy of selling or leasing state trust lands through public auctions. The Arizona State Land Department manages 9.2 million acres of state trust land, with a fiduciary duty to generate revenues for specific trust beneficiaries, predominantly public schools, colleges, and universities.
These auctions serve as a vital mechanism for funding education and other public services across the State-level. In the past four fiscal years alone, these auctions generated approximately $1.6 billion in gross sales. The Arizona Constitution mandates that state trust land must be sold at public auction for no less than its appraised value to the highest bidder, ensuring maximum financial return to the beneficiaries. The process for these auctions is rigorous, involving conceptual planning, a five-year disposition plan, detailed site studies, an appraisal, and finally, the public auction itself. Prospective bidders must present a cashier’s check for a specified percentage of the appraised value and associated fees to qualify. Critically, sales, leases, or subleases of state lands are exclusively made to corporations or associations qualified to transact business within the state, ensuring responsible development and adherence to State-level regulations.
Looking Ahead: A Future Built on Innovation and Sound Development
The ongoing development in the West Valley, exemplified by Harvard Investments’ expansion of the Rio 1900 project and the broader Estrella development, reflects a confident outlook for Phoenix AZ business and regional economic prosperity. This sustained growth is a testament to the power of private investment, strategic land management, and a regulatory environment that supports entrepreneurial innovation. As the West Valley continues its trajectory of economic growth, it will undoubtedly create further opportunities for Arizona AZ entrepreneurs and bolster the Phoenix small business sector, enriching the entire community.
We encourage our readers to remain engaged in the unfolding economic narrative of Phoenix and to support the local businesses and initiatives that contribute to our city’s thriving future.
Frequently Asked Questions (FAQ) about West Valley Development
What is the Rio 1900 project?
The Rio 1900 project is a 1,940-acre master-planned community in Goodyear, Arizona, being developed by Harvard Investments. It is planned to include up to 5,800 homes, a mix of single-family and multifamily residential options, as well as retail, restaurants, and civic uses.
Who is Harvard Investments?
Harvard Investments is a Scottsdale-based developer known for creating and developing award-winning properties. They are actively involved in large-scale master-planned communities in the West Valley, including Estrella and the new Rio 1900 project.
What role do Arizona State Land Department auctions play in development?
Arizona State Land Department auctions are a key strategy for the State-level to generate revenues for trust beneficiaries, primarily public schools, colleges, and universities. The Arizona Constitution mandates that state trust land be sold at public auction for no less than its appraised value to the highest bidder.
What kind of economic growth is the West Valley experiencing?
The West Valley is experiencing rapid economic growth, with a population growth rate twice the national average and robust development in key sectors such as advanced manufacturing (including semiconductor), healthcare, and technology. It is a significant hub for industrial space and new home permits within the Phoenix metro area.
When is construction anticipated for the Rio 1900 project?
Construction for the Rio 1900 project is anticipated to begin in 2027, with the first homes projected for delivery in 2029.
Key Features of West Valley Development and State Land Auctions
| Feature | Description | Scope |
|---|---|---|
| Harvard Investments | Scottsdale-based developer of award-winning properties, active in West Valley master-planned communities. | Local/Regional |
| Rio 1900 Project | 1,940-acre master-planned community in Goodyear with up to 5,800 homes, retail, restaurants, and civic uses. | Local/Regional |
| Estrella Community | 20,000-acre mixed-use master-planned community in Goodyear, home to over 8,300 families. | Local/Regional |
| West Valley Economic Growth | Rapid population growth (twice national average), robust development in manufacturing, healthcare, and technology. | Regional |
| Arizona State Land Department Auctions | Strategy to sell or lease 9.2 million acres of state trust lands to generate revenue for trust beneficiaries (e.g., public education). | State-level |
| Auction Mandate | Arizona Constitution requires state trust land to be sold at public auction for no less than appraised value to the highest bidder. | State-level |
| Rio 1900 Construction Start | Anticipated to begin in 2027, with first homes delivered in 2029. | Local |
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Author: STAFF HERE PHOENIX WRITER
The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
