El Dorado’s Masterfully Planned Community promises a “Whatever you want you can have” Lifestyle

BENSON, Arizona — A group of 70 business and government leaders from across southeast Arizona  gathered Tuesday at the Cochise College in Benson for an update on The Villages at Vigneto residential and commercial masterplan project planned for northwestern Cochise County. The project is being developed by El Dorado Holdings, the company that spearheaded the growth of what is now the City of Maricopa.

Villages at Vigneto will be built along both sides of State Route 90 in Benson south of Interstate 10. The plan is for 28,000 homes, five golf courses, restaurants, shops, and more than two dozen activity centers and community facilities over a 20 year build out. Two-thirds of the project’s 13,000 acres are located on the east side of State Route 90

Mike Reinbold, development partner with El Dorado Holdings, estimated that it will take about 18 months for completion of horizontal construction such as roads and utilities after which vertical construction of homes and community facilities can begin. Reinbold said he is still confident that some homes will be on the market in 2018, a prediction he made in January at a meeting of the Southeastern Arizona Contractors Association.

During the March 14 meeting Reinbold also premiered a five minute video that overviews the project’s “Tuscan Territorial” concept. The video likens the Vigneto lifestyle to the American Dream, noting that “whatever you want you can have” within the Vigneto community.

Reinbold also updated the attendees about the Whetstone Ranch Canyons development located on the north end of El Dorado’s property. Approximately 50 homes were built by the previous developer with plans for a few hundred more. That project is being worked into El Dorado’s plans for Vigneto, according to Reinbold, and will concentrate on more family-style homes and amenities. New construction of homes at the Canyons could begin within 90 days once El Dorado breaks ground on Vigneto.

El Dorado has “the experience, financial strength, and will” to develop the Vigneto “lifestyle” project in a manner that is both environmentally responsible and water-wise, Reinbold explained. The Vigneto project has maintained a high level of community support, he noted, by addressing questions “with straight forward answers and facts.”

One pending issue for El Dorado is how quickly the U.S. Army Corps of Engineers will reinstate a Section 404 permit the agency put on hold last year.  The permit was issued in 2006 for the now-defunct Whetstone Ranch project, which encompasses nearly three-fourths of El Dorado’s property.

A handful of environmental groups filed a lawsuit last May asking a federal judge to order the Corps to consult with the U.S. Fish and Wildlife Service to ensure species protected under the Endangered Species Act “are not jeopardized and critical habitats are not adversely modified or destroyed” by development of Villages at Vigneto.  Proceedings in the federal action have been stayed by Judge Cindy Jorgenson allow time for the consultation to take place between the Corps and FWS.

Reinbold, who is meeting with the Corps on a regular basis for updates, believes there is already “a change of federal government philosophy” since the new president was inaugurated.

While the Corps and FWS address the consultation, Reinbold says El Dorado is moving forward with final planning of the project’s first 750 acres. Engineers are on-site, utilizing a grid system in place across the property to digitally design the main Village Center, a recreation center, and the first home sites.  However, Reinbold declined to comment about what steps would be taken if the Section 404 permit is not in hand by the time Vigneto’s engineering plan is approved by the City.

Meanwhile, Benson city manager Bill Stephens confirmed after the meeting that city staff is ready to review El Dorado’s final design and engineering plan for the first phase once it is submitted.  “We are looking forward to the next step” said Stephens.

Reinbold encourages anyone interested in obtaining updates about Villages at Vigneto to sign up for email updates at www.vignetoaz.com.

With blessings of the Southeastern Arizona Governments Organization (SEAGO) and a 3 to 1 majority of supporters at the Benson City Council Meeting Monday night, the Master Planned Community of “The Villages at Vigneto” a 12,300-acre master-planned community with 28,000 homes planned within the City of Benson, passed unanimously. El Dorado Holdings is the developer for the project.

Forecasts are that the Villages at Vigneto will re-ignite the struggling Benson and Cochise County economies and create an estimated 16,350 jobs at the height of construction and $79.6 million in cash surplus to the City of Benson, according to a US Economic Research report and covered in Real Estate Daily News October, 2015.

The Villages at Vigneto will certainly be the largest economic driving force in Southern Arizona. Located directly to the south of The Canyons where 55-60 homes are already built. El Dorado will build into the retirement community a golf course with rec center and golf club, and a recreational Village Center as part of the upfront development, with houses to be delivered simultaneously.

Mike Reinbold, project manager for the Villages at Vigneto with El Dorado, told us that with this major milestone completed, final engineering and architectural plans can begin. Infrastructure construction should begin as early as next summer and first move-ins are  expected as early as 3 years from now, Reinbold estimated.

“The Council should be commended for doing an excellent job Monday night at the meeting, and allowing time for all members of the public to be heard,” Reinbold said.

Each year, the City of Benson with slightly over 5,000 residents swells to an estimated 32,000 people, with winter visitors from Canada and cold states who inhabit the 16,000 RV spaces in Benson. Such rapid growth of people seems to agree well with this historic town, only 45 miles southeast of Tucson in Cochise County.

Benson AZ – Dr. Robert Carreira, principal of USEconomicResearch.com, forecasts the Villages at Vigneto will ignite the struggling Benson and Cochise County economies. The development, including 28,000 homes, a destination resort, and four million square feet of commercial/retail space, will bring an estimated $23.8 billion* in economic activity (spending/sales) over 18 years. Additionally, It will create an estimated 16,350 jobs at the height of construction and $79.6 million in cash surplus to the City of Benson.

Dr. Carreira’s economic study of the Villages at Vigneto utilized the Regional Input-Output Modeling System (RIMS II) developed by the U.S. Bureau of Economic Analysis (www.bea.gov). The study estimates the Villages at Vigneto, developed by Phoenix-based El Dorado Benson LLC, will produce $7.7 billion in associated household earnings.

According to Dr. Carreira’s study, the Villages at Vigneto will transform the economies of Benson and Cochise County, spurring unprecedented economic activity, job growth, business expansion, population growth and reduce the unemployment rate, which has burdened the entire region. Over the past six years, Cochise County has lost more than 4,000 jobs. The current unemployment rate in Cochise County is 8.4 percent, while Benson’s has increased to over 10 percent.

The Study assumes 2,000 home sales annually by 2020, and shows the economic impact will reach an annual reoccurring revenue of $1.2 billion, generating $426 million in household earnings. This growth will peak in 2031, resulting in $2.2 billion in economic activity, $674 million in household earnings, and 16,355 jobs to Cochise County. Upon completion of the development of Vigneto, the region will sustain $1.2 billion in economic activity annually, and over 8,780 permanent full time jobs.

During build out, the Villages at Vigneto will generate $1.5 billion in new tax revenues for all Cochise county taxing districts.  The fiscal impact on the City of Benson over the same period will create $557.6 million in tax revenue compared to $478.1 million in expenses.  The net impact to the City of Benson will be $79.6 million in tax surplus.

Mike Reinbold, development partner with El Dorado Benson, LLC, said, “The increase in jobs, sales, business expansion and tourism that this project will bring will directly benefit Benson and Cochise County residents. Immediately there will be construction jobs created that would last for a number of years. The sudden increase in jobs will instantly increase boost sales in the retail, transportation, lodging, and the food and beverage industries. Public safety, social services, hospitals, medical facilities and schools will also see increases in revenues as a result of this project.”