November 23, 2024 6:55 pm
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$1B Tempe development plans might sink into the lake

Screen Shot 2014-12-30 at 12.54.56 PMBy Mike Sunnucks | Phoenix Business Journal

A Chinese-backed development and investment company missed a deadline this month to pay Tempe $17.6 million for 11 acres of land along Tempe Town Lake.

TrendEx Holdings LLC wants to build a $1.2 billion, 2 million-square foot development on city-owned land north of Rio Salado Parkway and between Rural Road and McClintock Drive.

TrendEx was supposed to pay Tempe for and close on the land earlier this month. That did not happen, according to city officials.

Continued:

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.