What Grayhawk Development does

Grayhawk Development is a privately held, founder-owned real estate development firm headquartered in Scottsdale, Arizona, founded in 1993 by Gregg Tryhus. The company acquires raw or distressed land, secures entitlements, installs infrastructure, and either develops master-planned communities directly or sells entitled, finished lots to national homebuilders such as D.R. Horton and TriPointe Homes. Its portfolio spans 13 named projects across Arizona and Utah, including the 4,000+ unit Grayhawk-Scottsdale master-planned community (opened 1996, built out 2004), the 2,400-home-site Saguaro Bloom in Marana, the 214-lot WR Estates guard-gated community, the 200-lot Glenwild private golf community in Park City, Utah, and the Cavasson mixed-use project in Scottsdale (~1.8 million sq ft commercial, 1,600 multifamily units, hotels, retail) developed in partnership with Nationwide Realty Investors and anchored by a 460,000 sq ft Nationwide Insurance regional headquarters. The firm also operates Grayhawk Golf Club (a daily-fee public facility that has hosted PGA Tour and NCAA events) and Whisper Rock Golf Club (a 36-hole private club capped at 580 invitation-only members).

Name

Grayhawk Development

Legal name

Grayhawk Development

Website

https://grayhawkdevelopment.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Grayhawk Development is a Scottsdale-based, founder-owned real estate developer that acquires, entitles, and builds master-planned residential communities, golf clubs, and mixed-use projects across Arizona and Utah, selling lots to national homebuilders and operating premium lifestyle assets.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Golf Courses and Country Clubs (71391), Residential Property Managers (531311)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industries

Urban Renewal, Brownfield Redevelopment & Land Reuse (BPAIANAI), Brownfield Redevelopment & Land Reclamation (Cleanup for Reuse, Risk-Based Closure) (EUAIALAI)

Keywords

• Master-planned communities
• Real estate development
• Residential lot sales
• Mixed-use development
• Golf club operations

Headquarters

HQ city

Scottsdale

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Land Development & Property Sales: Grayhawk acquires raw land, obtains entitlements, installs infrastructure, and either sells finished lots to homebuilders (e.g., D.R. Horton, TriPointe Homes) or develops and sells custom home sites directly to buyers. Revenue is generated through lot sales, home sales in master-planned communities, and sales of developed parcels. This is the primary revenue stream, executed in discrete project cycles.
2. Golf Club & Resort Operations: Grayhawk operates golf clubs (Grayhawk Golf Club, Whisper Rock Golf Club) and resort communities generating revenue through daily-fee golf, club memberships, dining, events, and resort rentals. Memberships at Whisper Rock Golf Club are limited to 580 individuals and are by sponsorship and invitation only.
3. Community & HOA Management Services: Services include homeowner association management, lifestyle programs, residential services, concierge, and on-site property management at communities such as WR Estates, Whisper Rock, and Sevano Village. Revenue is generated through HOA fees and service charges.
4. Commercial & Multifamily Rental: Through the Cavasson mixed-use project and The Hawk at Cavasson rental community, Grayhawk participates in commercial leasing and multifamily rental operations. The Cavasson project includes approximately 1.8 million square feet of commercial office space, hotels, retail, and 1,600 multifamily units.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Grayhawk Development is a real estate development firm that acquires raw or distressed land, secures entitlements, installs infrastructure, and creates master-planned residential communities, mixed-use projects, and golf/lifestyle properties across Arizona and Utah. The firm sells finished lots to national homebuilders, develops and sells custom home sites to affluent buyers, operates private and daily-fee golf clubs, and provides HOA, concierge, and community lifestyle services.

Product overview

Grayhawk Development is a real estate development company that creates master-planned communities, residential developments, and golf/lifestyle properties across Arizona and Utah. The company's portfolio spans multiple product lines: (1) Master-planned communities including Grayhawk-Scottsdale (4,000+ units), Saguaro Bloom (2,400 home sites), and Avance (140 acres residential); (2) Mixed-use developments such as Cavasson (commercial office, multifamily, retail, hotels) and Chandler Brickyard (infill multifamily); (3) Luxury residential including WR Estates (guard-gated custom homes), Whisper Rock Golf Club, and Glenwild in Utah; (4) Rental communities like The Hawk at Cavasson (400 units); and (5) Golf/lifestyle properties including Grayhawk Golf Club and Grayhawk Resort. The company has operated since 1993, developing projects from raw land through entitlement, construction, and operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Avance A master-planned residential community on approximately 140 acres near 7th Street and Dobbins Road in Phoenix, Arizona, featuring single-family and multi-family housing with open space, trail corridors, fitness center, pool, and neighborhood parks. Repositioned from the former Vistal golf course.
• Avance Highlands A 24-acre medium-density residential parcel and the third phase of the Avance Master Plan, with 360-degree views of the Phoenix skyline and South Mountain. Sold to DR Horton for development of 140 townhomes.
• Cavasson A mixed-use development in partnership with Nationwide Realty Investors at Loop 101 and Hayden Road in Scottsdale, including approximately 1.8 million square feet of commercial office space, 1,600 multifamily units, hotels, retail, and restaurants.
• Chandler Brickyard A plus/minus 3.74-acre opportunity-zone multifamily development site in Downtown Chandler, Arizona, positioned as an infill site near the city's walkable nightlife amenities.
• Glenwild A private golf community in Park City, Utah with 200 custom home sites (all sold) and a Tom Fazio-designed private golf course named Best Course in Utah by Golf Digest.
• Grayhawk-Scottsdale A master-planned community in the heart of Scottsdale covering more than 1,600 acres with more than 4,000 residential units, two distinct neighborhoods (The Park and The Retreat), 31 miles of multi-use trails, and adjacency to the Grayhawk Golf Club. Voted Arizona's #1 Master-Planned Community by AZ Business Magazine readers.
• Grayhawk Resort A 45-acre resort and rental community parcel adjacent to the Grayhawk Raptor golf course, entitled for up to almost 500 resort and rental units with views of the McDowell Mountains and city skyline.
• Grayhawk Golf Club A daily-fee golf club in Scottsdale featuring the Talon and Raptor 18-hole courses, dining venues (Morning Joint, Phil's Grill, Quill Creek Café, Isabella's Kitchen), and a Grayhawk Learning Center. Hosted the Frys.com Open (2007–2009) and NCAA Division I Golf Championships (2020–2022).
• The Hawk at Cavasson A gated 400-unit rental community on 18 acres within the Cavasson mixed-use project in Scottsdale, with private patios/balconies, two pool/spa complexes, fitness facility, outdoor kitchens, putting green, dog park, and transit lounge.
• Saguaro Bloom A master-planned community in Marana, Arizona near Tucson, covering more than 700 acres with approximately 2,400 home sites, community trails, elementary school, regional park, community center, and lifestyle services. Repositioned by Grayhawk from an abandoned project.
• Sevano Village An approximately 129-acre residential community on the west edge of Whisper Rock featuring townhomes, patio homes, a neighborhood park, and an approximate 14-acre future residential development area.
• Whisper Rock Golf Club A 36-hole private golf facility in north Scottsdale with membership limited to 580 individuals by sponsorship and invitation. Lower Course (2001) designed by Phil Mickelson and Gary Stephenson; Upper Course (2005) designed by Tom Fazio.
• WR Estates An exclusive guard-gated community of 214 custom home sites in north Scottsdale, Arizona, with lot sizes ranging from 1 to more than 5 acres (average 2+ acres). Includes fitness center, heated pool and spa, pickleball/tennis courts, 3-acre park, hiking/biking trails, and lifestyle services.

Quantifiable outcome

• Grayhawk-Scottsdale was voted Arizona's #1 Master-Planned Community by AZ Business Magazine readers.
• +6 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and major.

• Nationwide Realty InvestorscoreStrategic or Co-development PartnerNationwide Realty Investors is the joint venture partner with Grayhawk Development for Cavasson, a ~1.8 million square foot mixed-use project at the northwest corner of Loop 101 and Hayden Road in Scottsdale, Arizona. The initial phase (2019) includes a new 460,000-square-foot regional headquarters building for Nationwide Insurance, a six-story parking structure, and significant infrastructure. Cavasson is planned to include approximately 1.8 million square feet of commercial office space, 1,600 multifamily units, hotels, retail, and restaurants.
• DMB Associates, Inc.coreStrategic or Co-development PartnerDMB Associates, Inc. is the joint venture partner with Grayhawk Development for Glenwild, an intimate private golf community in Park City, Utah. DMB Associates brought land and development expertise to the partnership, with the project featuring a Tom Fazio-designed private golf course and 200 custom home sites.
• Alliance ResidentialmajorStrategic or Co-development PartnerAlliance Residential is cooperating with Grayhawk Development as owner and developer on The Hawk at Cavasson, a gated 400-unit rental community on 18 acres within the Cavasson mixed-use project in Scottsdale. Grayhawk is the owner and developer; Alliance Residential provides development cooperation and operational expertise for the multifamily component.

Scale indicators10 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Vestar Development: Arizona-based commercial and mixed-use developer; the closest comparable to Grayhawk's Cavasson mixed-use project, building Class A retail, office, and multifamily in Phoenix-area submarkets.
• Taylor Morrison: Top-5 U.S. homebuilder with a large Arizona operations footprint acquiring and developing master-planned communities similar to those repositioned by Grayhawk; comparable buyer and developer profile.
• Toll Brothers: National luxury homebuilder that also develops master-planned and guard-gated communities in the Southwest, competing with Grayhawk for high-net-worth buyers and builder partner relationships.
• DMB Associates: Direct peer in master-planned golf community development; DMB is Grayhawk's JV partner on Glenwild in Park City and shares the same model of building entitled luxury communities anchored by signature golf courses.
• Shea Homes: Large Arizona-based homebuilder/developer of master-planned communities, directly comparable in product type and Southwest market focus to Grayhawk's lot-sale and home-site business.
• RED Development: Mixed-use developer active in Arizona (CityScape, Tempe Marketplace) with a comparable model of master-planning, entitling, and operating large-scale mixed-use districts similar to Cavasson.
• Forestar Group: Wholly owned subsidiary of D.R. Horton that acquires, develops, and sells finished residential lots — directly comparable to Grayhawk's lot-sale business and a key counterparty.

Emerging players

• Walton Development and Management: Large-scale land acquisition and master-planning firm that creates entitled communities for homebuilders; similar GTM (sell finished lots to national builders) but broader national footprint than Grayhawk.

Regional players

• Calvis Wyant Luxury Homes: Arizona-based luxury custom home builder active in Scottsdale guard-gated communities (including WR Estates) and effectively a buyer of Grayhawk's high-end custom home sites.
• Camelot Homes: Scottsdale-based luxury homebuilder operating in many of the same master-planned communities Grayhawk develops (Grayhawk, DC Ranch); a builder partner/buyer in the same submarket.

Market position

Strengths5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/grayhawk-development

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grayhawk Development