By Mike Sunnucks | Rose Law Group Reporter
The city of Phoenix is considering selling land near Interstate 10 and the Loop 101 in the West Valley for a potential single-family rental homes subdivision.
The Phoenix City Council will consider a measure today to move forward with a potential sale of 15.67 acres of land at 2250 North 95th Avenue to Hancock Communities LLC.
Phoenix acquired the land in the Sheehy Farms area in 2002 with plans to build a new neighborhood park. Those plans never came to fruition and the city was approach by Hancock and its broker at City to City Commercial about potentially buying the land.
Today’s, council action would move the public process forward on a potential sale of the land.
For-rent, single-family home developments are seeing significant growth in Phoenix and other growing U.S. markets. A number of those for-rent subdivisions have been built or in the works in the West Valley submarkets such as Goodyear, Avondale and west Phoenix.
15.67 acres of land