April 26, 2024 12:34 pm
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Area south of Apache Junction desired for development

By Richard Dyer | YourValley

A national homebuilder bought a huge tract of state land south of Apache Junction for nearly four times an initial bid during a November auction for the parcel.

Bidding started at $68 million, but the 2,783.13 acres of State Trust Land adjacent to Apache Junction went for $245.5 million to Arlington, Texas-based homebuilder D.R. Horton Inc. in a live auction Nov. 4.

The state’s K-12 schools will be beneficiaries of the land sale in the area called Superstition Vistas between Elliot and Ray roads and from Meridian east about 2 miles.

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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.