By Roland Murphy for AZBEX
The Apache Junction City Council has unanimously voted to approve a purchase agreement for 10.64 acres at the NEC of Idaho Road and Apache Trail for $2.94M.
The former Grand Hotel site has been vacant for more than 20 years, has 1,000 feet of frontage along Idaho Road and is in a Qualified Opportunity Zone. The City plans to prepare and market the site to potential commercial developers.
As part of the agreement, seller QOZB LLC will remove an existing septic tank, for which it will be partially reimbursed by the City.
Arizona Corporation Commission records show QOZB LLC shares an address with Bela Flor Communities, which is in the design/plan review phase for a 543-unit multifamily development called 88 North. The 22.97-acre 88 North location is at the NEC of Idaho Road and Junction Street, slightly to the south of the site considered in the purchase agreement.
According to the follow-up discussion between Councilmembers and planning staff during the Feb. 20 meeting, a three-to-four-story multifamily development had been under consideration on this site as well. Rather than pursue the necessary conditional use permit, QOZB LLC chose to enter negotiations with the City to sell the land.
Apache Junction’s economic development plan calls for identifying sites to purchase and prepare for future development. Planning staff and most councilmembers agreed during the discussions that retail and commercial development on the site would help support the several residential uses that are being developed around the city and would promote additional vitality in the downtown area.