Photo Courtesy of Arizona State Land Department
According to documents from the Arizona State Land Department (ASLD) website, Ashton Woods Arizona LLC recently purchased 328 acres of ASLD land in Peoria at a state auction. The undeveloped land was purchased for $72.6 million dollars.
There were 257 bids for the empty land parcel. Bidders included home builders and real estate companies from across the nation. The minimum bid was $46.925 million.
Headquartered in Atlanta, Georgia, Ashton Woods sells homes in Atlanta, Austin, Charleston, Dallas, Houston, Naples, Orlando, Phoenix (including Peoria), Raleigh and San Antonio, according to the company. It is one of the top 20 homebuilders in the state.
“From the sale of our first home in 1989 to being recognized as Builder of the Year by Builder & Developer Magazine in 2017, Ashton Woods is a builder positioned for the future,” according to the company. “With the financial strength and management expertise required of next generation builders, we deliver what savvy homebuyers seek in a new home: high design, high quality and a high level of personalization in prime locations.”
According to reports, the purchased land is zoned as part of the Aloravita planned community district, which has plans for nearly 4,000 units.
The sale of the ASLD land will help support the state education system, per the ASLD website.