The city of Phoenix was the only bidder as it won an Arizona State Land Department auction Nov. 19 for 158.7 acres in north Phoenix.
It’s paying $11.9 million for the site, which is situated north of Sandra Day O’Connor High School, off the I-17 freeway and Jomax Road.
The city’s Parks and Recreation Department submitted the original application for the land, planning to purchase it for a new mountain preserve and hiking trail.
Despite being in north Phoenix, where a variety of major new developments are currently underway, no homebuilders ended up bidding on the site. Documents submitted with the Arizona State Land Department originally suggested a builder could likely swoop in.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
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