A 5-acre dirt lot in the heart of central Chandler recently sold for $1.6 million to a developer that plans to build 77 townhomes on the site, according to real-estate brokerage Colliers International.
The vacant infill property is near the southwestern corner of Alma School Road and Chandler Boulevard, behind an office and retail complex anchored by Home Depot, Safeway and Staples.
MPC Development purchased the land from Grossman/Robson Associates and plans to build fewer residential units on the property than the 92 homes approved for a previous project that never materialized. The property is zoned for multi-family use, which typically includes apartments, condominiums or townhomes.
Chandler, like several other Valley cities, has seen a surge in higher-density development since the end of the recession. In 2013, Chandler saw more construction of multi-family than single-family homes, the first time in at least 20 years that had happened.