Rose Law Group Reporter
On March 13, 2014, Raintree Investment Corp. closed on a site named Vista del Verde (formerly Roy’s Place) located near the southwest corner of Van Buren and 107th Avenue in Avondale. The 346 partially developed lots and 57 pre-plat lots (Tract CC) include 63′, 68′, and 73′ wide all at 120’ deep. The site was purchased for approximately $7.5 million ($275 per front foot). While there is no anticipated construction timing, the current plan is to work with the City of Avondale to obtain re-approvals of engineering plans and site infrastructure. Raintree will continue to look for other opportunities in the Phoenix market; their representative is Chris Janson and can be reached at (602) 955-1375.
