Real Estate: Spreading Webb

Although best known as half-owner of the New York Yankees, a laconic onetime carpenter named Delbert Eugene Webb, 62, has made most of his millions as a builder of shopping plazas and housing projects, hotels and office skyscrapers from Tampa to San Francisco. Last week Phoenix-based Del Webb took on a job that should dwarf all his others.

In partnership with Humble Oil Co., which is the major U.S. subsidiary of Jersey Standard, the Del E. Webb Corp. will build a new community with an anticipated population of 25,000 on 30,000 acres of...

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