373 Acres of Trust Land Goes to Auction in May

Credit: Ahwatukee Foothills News

A May 26th auction date has been set for 373 acres along Chandler Boulevard in Ahwatukee.

Minimum bid for the land, located between 19th and 27th avenues, is set at $105M. Given the shortage of available land for new home development, and the area’s existing zoning for single-family, multifamily, and commercial, it is likely the bids will significantly exceed the starting price.

As many as 1,050 new homes could eventually be built on the site.

The State Land Department estimates infrastructure improvements to the land will cost an eventual developer at least $5.2M. If the estimated 1,050 new homes are constructed, Phoenix would take in nearly $18M in impact fees.

The parcels have 44 acres zoned for multifamily and 11 zoned commercial, but single-family construction is considered the most likely use. (Source)

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