Photo courtesy of Land Advisors Organization
By AZRE
Recreational Investment Group LLP recently completed the $1 million purchase of 15.95 acres in Camp Verde, which its plans to develop into a new RV resort park. The vacant property, which is zoned C-3, is located at the northwest corner of Highway 260 and Dickison Circle, within the area’s Opportunity Zone and offers easy access to cities and communities along Interstate 17 and State Route 260.
Opportunity Zones are an economic development tool created for the purpose of spurring economic growth and job creation in distressed areas and low-income communities in the United States by providing tax benefits to investors. The buyer successfully took the parcel from vacant, unentitled land through the process of engineering the site, obtaining town approvals, and permitting of the site, all during the term of escrow. Capri Barney with Land Advisors Organization’s Prescott office represented the seller, Verde Valley Holding Company LLC, in the transaction.
