Lennar Corp., on the heels of launching sales for the first phase of homes at a Phoenix development, is planning an expansion for the community.
Millrose Properties, on behalf of Lennar, filed plans for the second phase of housing development at Ventana Ranch. The plans aim to add 253 new homes to Buckeye, a fast-growing city roughly 40 miles west of Phoenix.
The next phase will be built on 56 acres, with home lots ranging from 3,500 to 4,725 square feet.
Buckeye City Council approved the final plats for both phases at its Sept. 16 meeting.
The proposed site is south of Lennar's first phase of Ventana Ranch, on the northeast corner of Southern Avenue and Watson Road. The initial phase comprises 455 lots on more than 100 acres. The builder is actively selling lots in Ventana Ranch across three different product types, ranging from $348,490 to $533,590.
The prices are below the average home value across Phoenix, which is $574,532 as of September. In Buckeye, the average value comes in at $450,576, according to Homes.com data.
Adding to inventory boom in Buckeye
Millrose, previously a division of Lennar that handled some land acquisitions for the builder, became a publicly traded company earlier this year. The firm now typically sells land back to Lennar for housing development.
Millrose engages in land purchases, horizontal development and homesite option purchase arrangements for Lennar and "potentially" other homebuilders and developers, according to a news release.
Lennar could not be reached for comment.
Ventana Ranch is one of several residential developments in the works in Buckeye, which saw 160 more listings in July than the year-earlier period.
Buckeye contributed to Phoenix reaching a high watermark in listings for July 2025 that hasn't been seen since 2014. Phoenix saw a 26.8% year-over-year increase in the number of homes on the market, including attached and detached single-family homes and condos, equating to 5,145 new listings in the month of July.
Some of Buckeye's larger communities in the works include Rexco LLC's View Arizona, a planned community spanning 2,200 acres and more than 5,000 homes. As it moves through the pipeline, another massive community is taking shape: Howard Hughes Corp.'s Teravalis project that is expected to ultimately have 100,000 homes.