Disclosure: Rose Law Group represents Crown Realty & Development
ASU planning several new projects along corridor
By Corina Vanek | Phoenix Business Journal
Miles of empty desert land in north Phoenix near Desert Ridge Marketplace could be Phoenix’s next hotspot for development, panelists at a Friday forum hosted by Valley Partnership said.
In January, 5,700 acres of state land near the mall came back into play after U.S. Bankruptcy Court issued a ruling granting Crown Realty & Development master developer status for the area. The land had been controlled by affiliates of Bruce Gray and Gray Development, which defaulted on notes owned by Crown in 2015 and 2016.
So far, only horizontal improvements have been made on land overseen by Crown, specifically on 96.5 acres Crown closed on as part of the ruling.
