Arizona’s water woes just took a wild turn for the better (depending on who you ask). Buckeye and Queen Creek have secured a controversial and costly new source of groundwater from a rural basin, potentially unlocking development that’s been stalled for years.
Key Takeaways:
- Massive Water Rights Deal:
- Buckeye and Queen Creek can now pump groundwater from the Harquahala Basin for the next 110 years.
- Buckeye spent $80 million; Queen Creek, $30 million.
- Volume & Location:
- Buckeye: 5,926 acre-feet/year
- Queen Creek: 5,000 acre-feet/year
- Water will be transported from Harquahala, west of the Valley, back to each city.
- Why It Matters:
- Both cities have struggled to meet Arizona’s 100-year water supply rule for new development.
- This unlocks thousands of potential homes in Teravalis (planned for 100,000 homes in Buckeye) and elsewhere.
- Still Ahead:
- Experts warn there are hurdles: infrastructure, funding, and final water provider designations.
- Without pipelines and political will, this water is just wet paperwork.
Investor Insight:
This deal could breathe life into stalled developments in the far East and West Valley. Water availability is a make-or-break factor for housing growth in Arizona, and now, Buckeye and Queen Creek just loaded up the ammo. Watch closely as builders react and master plans resume momentum.