By Angela Gonzales | Phoenix Business Journal
A Scottsdale residential developer is planning a 1,000-lot community in the San Tan Valley area which had been at the center of a recent controversy over water infrastructure upgrades within the Johnson Utilities LLC service area.
Aread Management Inc. and Varde Partners paid $8.7 million for a 290-acre parcel in San Tan Valley, according to Kidder Matthews land broker Brian Rosella, who represented the seller in the deal, Skyline & Quail LLC.
To be called Skyline Estates, the development is at Skyline Drive and Quail Run Lane in Pinal County, southeast of Gilbert and Chandler.
Rosella said there have been few land transactions lately within the Johnson Utilities service area.