Fort Washington’s Toll Brothers, alongside Lennar Corp. and Shea Homes, has secured nearly 300 acres of state land in Peoria, Arizona, to develop a new housing community, writes Angela Gonzales for Philadelphia Business Insider.

The partnership acquired the land through a $46.9 million auction held by the Arizona State Land Department on November 25. The partnership plans to build approximately 700 homes on the parcel.

Jon Fisher, Shea Homes’ VP of land acquisition, shared that Lennar will develop over a third of the site. Shea Homes and Toll Brothers will divide the remainder. The project is expected to feature seven distinct communities and aims to begin home sales by late 2027 or early 2028.

This marks another milestone for Toll Brothers, which continues to expand its national footprint. 

The Peoria site, located near Dixileta and Litchfield roads, is positioned close to major economic drivers. The $65 billion Taiwan Semiconductor Manufacturing Co. plant is close by in north Phoenix. Jeff Gunderson of Lennar highlighted the need for housing in the area thanks to TSMC.  “Job creation in that north Phoenix/north Peoria area is going to be fantastic in years to come,” he said

Read more about the new Toll Brothers project in Arizona in Philadelphia Business Insider.