By Apache Junction Independent
The city of Apache Junction has purchased 10 acres in the downtown area, including property that previously contained the Grand Hotel at the northeast corner of West Apache Trail and North Apache Trail.
The City Council on Feb. 20 voted 6-0 to approve the purchase and sale agreement for approximately 10.64 gross acres.
City staff negotiated the $2,940,300 purchase and sale agreement between the city and Golden Triangle QOZB LLC, Economic Development Director Patrick Ainsworth wrote in a memo to the council.
“This is a monumental day for the city of Apache Junction as this marks the first time the city has purchased land to assist with commercial development in the downtown district,” Ainsworth said in a release. “City representatives have been working for months to get to this closing and we will be working even harder in the coming months to find interested parties to bring desired uses to this site and to our community.”
