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Land Department auction set – Proceeds from sales benefit Arizona public schools

The Arizona State Land Department will auction 327 acres zoned as part of a master-planned community at 10 a.m. Aug 8. The parcel, between the Loop 101 and Deer Valley Drive and west of Tatum Boulevard, is zoned residential and ties in with the Desert Ridge master-planned development. The parcel is identified as Desert Ridge superblock 8, auction No. 53-108368. The minimum bid is the appraised value of $150 million — or nearly $460,000 per acre. The successful bidder must pay at least 10 percent of the purchase price and other fees at the time of the sale.
State land auctions take place at the Land Department, 1616 W. Adams, Phoenix, lower level auditorium. Proceeds from land sales benefit Arizona public schools.
Other parcels going on the auction block later in 2006 include:
• Fountain Hills: 1,276 acres between McDowell Mountain and McDowell Mountain Park. Minimum bid $130 million — or about $102,000 per acre. Auction date is 2 p.m. Sept. 28. Zoned residential. Auction No. 53-110233.
• Camino A’Lago (North): 694 acres south of Pinnacle Peak Road and west of 91st Avenue. Zoned residential. Mininum bid and auction to date to be announced. Auction No. 53-108549.
• Desert Ridge, superblock 1N: 253 acres, southwest corner of Pinnacle Peak Road and 64th Street alignment. Zoned residential. Minimum bid and auction date to be announced. Auction No. 53-110153.
• Desert Ridge, superblock 4L: 202 acres south of Pinnacle Peak Road between Tatum Boulevard and 56th Street. Zoned residential. Mininum bid and auction date to be announced. Auction No. 53-105771.
• Lost Dutchman Heights: 1,030 acres south of Baseline Road and east of Central Arizona Project canal in Apache Junction. Proposed use: master-plan community. Minimum bid and auction date to be announced. Auction No. 53-110312.

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