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October 28, 2020 Comments Off on Arizona to Auction 1,128-Acres in North Phoenix for Employment Hub Views: 1025 Phoenix, Phoenix & Southwest News, Top Phoenix

Arizona to Auction 1,128-Acres in North Phoenix for Employment Hub

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The Arizona State Land Department is set to auction 1,128 acres in north Phoenix on Nov. 2. The site at Loop 303 and 43rd Avenue will be sold for a minimum of $89 million. It is part of an overall parcel containing roughly 3,700 acres.

The city planning and development department is seeking to rezone the site as a technology park to allow office, research lab, warehouse and manufacturing uses. The city believes development activity would spur the emergence of an Interstate 17 employment corridor. Developers would be able to build up to 56-foot tall buildings or up to 80 feet structures with a use permit and site plan. The tech park would include 10% open space.

The balance of the 3,700 acres is envisioned to be auctioned at a later date. The proposed uses include a 1,078-acre technology campus and a 1,243-acre freeway mixed-use district, which could include up to 8,960 residential units.

Read more at Arizona Auction Report

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