Buckeye continues to draw attention from retail developers as its population base expands at one of the fastest clips in the country. Since the 2020 census, the city has grown its resident count by more than 41%, reaching over 131,000 people, creating a larger customer base for neighborhood services and daily needs retail.
Against this backdrop, the Pederson Group is moving forward with plans for a new retail destination within the Festival Ranch master-planned community. The company intends to develop an over 114,000-square-foot shopping center at the northeast corner of Canyon Springs Boulevard and Sun Valley Parkway, positioning the project to serve existing residents and ongoing housing growth in the area.
The planned center, to be known as Festival Ranch Marketplace, will be anchored by a Safeway supermarket. The grocer is expected to serve as the primary traffic driver for the development, with additional space allocated for complementary retail, dining, and service tenants that will round out the merchandising mix. The configuration is designed to provide everyday necessities as well as convenience-focused offerings for nearby households.
To assemble the site, Pederson Group acquired approximately 15 acres from Festival Ranch’s master developer, PulteGroup, in a land transaction priced at $2,500,000. The parcel gives the developer enough scale to accommodate the grocery anchor, multiple shop spaces, and associated parking and circulation areas.
Pederson Group estimates total development costs for Festival Ranch Marketplace at $45,000,000. While specific financing details are not disclosed, the stated budget underscores the scale of investment planned for this portion of the community. The project is targeting an opening at the end of 2027, subject to the development and construction timeline proceeding as anticipated.
Design responsibilities for the shopping center have been awarded to Butler Design Group, which will oversee the architectural vision for the grocery-anchored complex and its supporting retail buildings. On the leasing side, Phoenix Commercial Advisors is leading tenant outreach and negotiations, with brokers Zach Pace and Cameron Warren tasked with filling the remaining space around the Safeway anchor.
As Festival Ranch Marketplace advances toward its projected delivery, the center is expected to expand the local retail inventory in Buckeye and provide additional options for both residents within the master-planned community and customers drawn from the broader trade area.
