Litchfield Park, Arizona
An Incredible Opportunity
Assembled from 11 different property owners over a period from 1988 to 1989, Litchfield East was the Master-Planned Community that wasn't. Generally located on the eastern edge of the western Phoenix suburb of Litchfield Park (home of the five star, three diamond Wigwam Resort), the project comprised 1,234 acres with over 10 miles of combined frontage on four major arterial roads (Dysart, El Mirage, Thomas and McDowell) as well as visibility from Interstate 10. The Project was immediately west the 12,000 acre Litchfield Park project in the city of Litchfield Park being developed by Suncor the real estate development arm of Arizona Public Service _ Arizona's largest public utility.
The Development team included Vernon Swaback Associates, P.C. (a protege of Frank Lloyd Wright) and Talley Industries, a fortune 500 company. All due diligence for the project had been completed with commitments from the City for zoning and Community Facilities District financing for the infrastructure.
Unfortunately, the property was also adjacent to a development project of Lincoln Savings. When Lincoln Savings filed for bankruptcy protection in 1989, the development partnership agreed not to proceed with the project.
In 1996, Continental Homes reassembled a portion of Litchfield East and developed Rancho SantaFe. Rancho SantaFe has proven to be the single most successful residential subdivision in Arizona history.
In a partnership with the developer of the Arizona Biltmore Estates, Arrowhead Ranch, and Scottsdale Mountain Estates, Richard Biegel was fully responsible for every aspect of the pre-development, planning and financing process.