Phoenix Land Auction – March 19
Published January 24th, 2008
An Arizona state land auction held up twice by a developer’s protests has been rescheduled once again.
The sale of the 112-acre parcel of Paradise Ridge is scheduled for March 19. The cost is $32 million, plus $67 million for infrastructure improvements. It is on a 99-year lease.
The parcel, on the Phoenix side of Scottsdale Road at Thompson Peak Parkway, is the proposed site of a large, mixed-use development. Westcor, the shopping center developer, was involved in the preparations to bring the land to auction. The company has a preferred right in the auction and has advertised its plans for the site – a large complex it calls Palisene.
