On October 29th the Arizona State Land Department will auction off the first parcel of Paradise Ridge, a 2,200 acre parcel of land located between Desert Ridge and Scottsdale. The piece being auctioned off in October will be a 112 acre piece that Westcor has had it's eye's on for several years, working with the city on a master plan for the land and doing their due diligence concerning the environmental factors. The piece, called "Palisene" by Westcor, will be at the center of the Pardise Ridge community.
Although Westcor has already made considerable investments in the land, they could be competing with at least two other bidders. Thomas J Klutznick Co., the developer of CityNorth, and DMB, the developer of DC Ranch may be throwing their hats into the ring as well. However, Westcor may have the edge as it has a right of first refusal.
Click Here to read the full article. I will continue to keep you posted as new developments occur.
[tags] Desert Ridge real estate, Paradise Ridge, Arizona State Land Department, land auctions [/tags]