By Russ Wiles | The Republic
A group headed by Gray Western Development has filed for bankruptcy on a big Phoenix parcel
The Chapter 11 filing pertains to 98 acres of mostly undeveloped land near Loop 101 and 56th Street
The mixed-use commercial and residential site is estimated to be worth at least $160 million
A development group filed for bankruptcy protection earlier this week on 98 acres of mostly undeveloped land in north Phoenix.