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Tonopah Investors Eyeing Region’s Future

Credit: West Valley View

By Connor Dziawura for West Valley View

Joe Dodani calls Tonopah his “Diamond City.”

The land broker, who said he has 15 years’ experience with more than 200 transactions in the area, has seen the growth in the West Valley — growth that he said is poised to overtake Tonopah in the coming years.

So, with that in mind, two of Dodani’s clients have made purchases amounting to a combined 242 acres of land in downtown Tonopah.

Those clients — SLM Land Holdings and Phoenix physician Dr. Hetal Shah — each purchased about half of that land for $1,052,700, Dodani said.

But plans aren’t slowing down.

Both parties are looking at even more Tonopah land, he added. Shah has 150 acres in escrow and SLM has 80 acres in escrow, two sales which are set to close in September. Dodani said his clients will likely buy even more after that.

With few developers in the area at this stage, the timing is perfect to get in on the opportunity, he feels.

Though the Tonopah of today still has much room for growth, many consider it to be a prime area for expansion.

Expansion which already seems to be in the works.

In late 2017, it was reported that a company with ties to Microsoft co-founder Bill Gates purchased the majority stake in a nearly 25,000-acre plot of land near Tonopah, with the intention of building a master-planned “smart city” named Belmont.

And the long-awaited Interstate 11 corridor, which could eventually bridge Mexico and Canada through the United States, will pass through the region.

Read more at West Valley View.

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