The Ellman Companies is accelerating its timetable for the former state trust land in northeast Fountain Hills by 24 months.

Don Kile, president of Ellman’s master planned community division, told the Fountain Hills Realtors Marketing Session in early November of the new plan.

Despite the current housing gloom and doom, developer Kile said he is optimistic of “an extraordinary market ahead.

“We’ve got our foot on the gas,” he said.

Initially, 2011 or 2012 were the target dates for developing the 1,276 acres of state trust land that Ellman acquired in auction in March.

“We’re not going to wait that long,” said Kile. “We think the market is going to be there in 2010.”

He said he could not yet reveal any information about the state trust land project, except to say it would be comparable to The Preserve at Goldfield Ranch.

“We could not be more enthusiastic about that,” said Kile.

 The revised timetable would mean that the developer would have two upscale projects in progress around the same time.

Kile said he is negotiating some documents with town and a couple of other regulatory jurisdictions about the former state property.

The Ellman Companies had the winning bid of $110.1 million for the property annexed by the town in 2006.

Kile’s company described the planned master communities at The Preserve at Goldfield Ranch and the ex-state trust tract to be “higher value, higher profile, more open space and a softer footprint on the environment.”

Less density of homes in both projects “will be better for us, and ultimately for all of you,” Kile told the Realtors.

The Preserve at Goldfield Ranch will contain 1,000 residences on 499 quarter-acre lots and 501 homes on customized parcels ranging in size from one to eight acres.

A boutique/spa is planned for 36 acres. Another 20 acres has been allocated for a clubhouse and 40 acres are designated for equestrian facilities in two locations.

Kile said 65 percent of the total development will be undisturbed and remain open space. March 2010 is the projected date to begin construction

The Preserve was purchased in June 2006. The tract lies about five miles north of the intersection of Shea Boulevard and the Beeline Highway (State Route 87).