Prime Parcels Set To Fetch Millions

The Arizona Republic reports that the State Land Department plans to sell about 5,000-acres in 2006, up from the 2,550-acres it sold in 2005.

The department plans to sell four parcels in the Desert Ridge area, a parcel in Fountain Hills, several parcels in Peoria near the Loop 303, and the first piece of the Apache Junction Superstition Vistas project.

Land costs have soared with metro Phoenix's meteoric 55 percent run-up in home prices in 2005. In July, a piece of residential state land in Desert Ridge sold for $319,950 an acre. In early 2004, a similar piece of state land in the development sold for $260,000 an acre. More...

This article ties in nicely with this Arizona State Land article where developer 'Westcor' has major plans for some state land near Scottsdale Road and the 101 Freeway.