Volare Hangars at Pegasus Airpark in the town of Queen Creek is preparing to deliver its first phase of hangars. The new owners at the premier airpark community have chosen their man cave or hangar home because of location, fee simple ownership, fuel pricing and hangar features. Some of these luxury spaces are still available, but they are selling fast.
Construction required just nine months to complete the first phase of 17 premium and upgraded executive hangars, 60 by 60 square feet to 80 by 80 square feet, with the second phase of 17 hangars scheduled for completion in about another month. Pegasus Airpark (5AZ3) is a luxury gated aviation- and equestrian-focused community surrounding the private airport’s extended paved runway, 5,124 feet by 80 feet.
Pegasus is lighted and includes a VASI guidance system. Helicopters are allowed, and there are no curfews or flight restrictions. Both Jet-A and AVGAS fuel is on site with discounted pricing available for owners — about half the price per gallon charged by larger airports. In addition, Pegasus is 7,000 feet below KPHX Class B airspace, with fewer flight restrictions than other local airports.
At Volare Hangars, pilots store their planes, helicopters, collector cars and other treasures and host friends, family and business acquaintances. “While we see the need for larger corporate business hangars at regional airports, we are also seeing an increase in general aviation’s desire to move to private airports and airparks like Pegasus,” says Johnnie Panfil, co-owner of the local family-owned company, Equity 1000 LLC, with John and Tarja Panfil.
All premium Volare hangars are pre-engineered metal construction for the exterior and demising walls. They include features such as premium hydraulic hangar doors; three-phase power supply; plumbing to install restrooms and/or appliances; fully insulated ceiling/walls; and additional roof structure ready for future HVAC systems.
Larger executive hangars use commercial-grade CMU block construction for the exterior and demising walls, enhancing the look and sound attenuation. These units have street addresses with private driveways; 14-foot-by-14-foot hydraulic RV doors; large patios that include 10-foot-tall commercial-grade sliding doors that can be folded completely to one side; and a separate 8-foot-tall glass front entrance door. They also have greater flexibility in potential uses, including building out a portion of the interior into a residence.
Stephanie Underwood is buying an 80-ft.-by-80-ft. executive hangar. “As a long-time hangar owner, the low maintenance ‘all-in-one’ concept at Volare really caught my eye,” she says. “Although the possibilities are endless, my plan is to create the perfect modern residence, office suite and hangar space to fit the needs of my busy and always traveling lifestyle.”
A Regal Location
The Queen Creek location is superb, just a 10-minute flight southeast of Scottsdale. “General aviation pilots tend to prefer the freedom and ease of private airport flight operations, even if that means driving 30 minutes to an hour away, which can still be quicker than taxiing at a busy regional airport during rush hour,” John explains.
“When we started Volare Hangars at Pegasus Airpark, we did not think we would have interest from pilots who live as far as an hour and a half away from Queen Creek,” Johnnie says, “but we now have regular interest from pilots as far as north Scottsdale and all around the Valley.”
A growing small-town location and community has also been a decision-maker for new owners. Queen Creek, spanning Maricopa and Pinal counties, epitomizes the upscale lifestyle of the Southeast Valley: brisk growth, the rural serenity people come to Arizona for and more than 300 days of sunshine a year, making the area great for flying.
The 40.8-square-mile town incorporated in 1989; the population was 59,519 in 2020 and surpassed 78,000 in 2023. It’s the second wealthiest municipality in the state, behind Paradise Valley, according to the PropertyClub Team’s ranking from October of 2023.
“Being centrally located among the Southwestern states in one of the fastest growing and top-ranked towns across the country makes Pegasus Airpark one of the best locations for private aircraft owners that travel throughout the Southwest,” Johnnie explains.
“The general aviation market continues growing exponentially, adding to the shortage of hangars,” John says. Pegasus Airpark is also an investment opportunity that has seen exponential growth in property values, he notes, adding that the price of existing hangars and flight lots have more than doubled at the community just in the last two years.
He says that LG, for example, will be investing $5.5 billion in a world-class manufacturing complex in Queen Creek. The town is improving buildings and making the area more pedestrian friendly. In addition, new restaurants/bars, entertainment venues and locally owned shops are in progress including a “mega-entertainment center/family-focused agritainment venue on 11 acres.”
Pegasus Airpark is not just a place to park your plane and walk away or where your collection can be stored and shown; it’s also a neighborhood and a community, he says. Owners share interests, including cars, motorcycles, horses and other recreational vehicles that many pilots also enjoy with their family and friends.
And nearby are myriad recreational activities such as San Tan Mountain Regional Park, with miles of hiking trails, and boating and fishing on Saguaro and Roosevelt lakes. Surrounding mountain ranges provide opportunities to explore and sight see.
Owning The Land and Hangar is the Best Flight Plan
Fee simple ownership is another plus. Most airports are owned by municipalities, which have strict federal requirements they must meet. “Public airports receiving funding from the FAA are required to have ground leases on hangars located within the airport, and, once the initial term and any renewals are over, the airport authorities can take ownership of the hangar. At most municipal airports, hangars are only available with limited ownership rights due to ground leases that come with strict rules and restrictions,” explains John.
In contrast, private airparks, such as Pegasus, are managed and maintained by a community association; they do not receive funding from FAA. Therefore, with fewer restrictions on how the hangars can be used or modified, owners also have the flexibility to store cars, RVs, boats, and other equipment without issues.
“You own the hangar fee simple, forever allowing it to be passed down for generations and to appreciate in value without the diminishing returns caused by ground leases,” Johnnie says. “You can also modify and make improvements to the interior of the hangar without concerns of an authority taking ownership of your hangar or kicking you out.”
As a result, general aviation also prioritizes the long-term security and flexibility to customize hangars and use them for more than parking a plane, which is one of the primary benefits of a private airport without the restrictions at municipal airports. In this way, you can store any collection of vehicles inside and customize them however you’d like.
“We are excited to see our buyers move in and how they customize their hangar over the next several months,” he adds. “Many have had unique ideas for build-outs, especially in the executive hangars.”
Build it Your Way
Pricing is always key. “We are proud that we were able to keep all our early reservation holders at the same pricing we shared with them as early as over a year and a half ago even through the increases in construction costs and unforeseen construction challenges along the way,” Johnnie says.
Volare Hangars has also made upgrades to the hangars during construction. These include walk-through commercial grade glass doors, 4 feet by 8 feet, with dual pane glass, two remotes and a downloadable app for wireless hangar door operations and spray foaming the inside of hangar doors. Upgrades also include insulation with higher R-values on the end walls, which have the most exposure to sun, along with a high R-value RV doors using an upgraded jackshaft lift operator, fully opening bi-fold patio doors, increasing the number of outlets and lighting specs.
Additionally, Volare offers access to both Cox and Century Link fiber optics internet, color-changing architectural lights to change looks for the season or for events and mailboxes for all hangars including the standard 60-by-60 square-foot hangars.
Chris Nugent, president of the Arizona Pilots Association, says, “John and the team at Volare Hangars have been a corporate sponsor for APA, and it is much appreciated. If you have the opportunity to get out to Pegasus Airpark, be sure to take a look at their new hangar development; it’s pretty impressive!”
For more information, call 623.277.0000. The website, VolareHangars.com, has drone videos for a visual update.
Gallery
