By Karen Schutte | Real Estate Daily News
TUCSON, ARIZONA — Much needed housing in Tucson was the focus of 184 acres State of Arizona land near Valencia and Houghton Roads in Tucson that appraised at $14.5 million that was auctioned Wednesday.
The winning bid was $44 million and the Winning bidder: American Homes 4 Rent(AMH) of California, a new builder to Tucson building single family homes to rent rather than for sale.
State trust land was granted to Arizona by the federal government in preparation for statehood in 1912. Arizona is one of 21 states that manage a total 500 million acres.
