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Homebuilder to pay $245.5M for state trust land south of Apache Junction

Bidding started at $68 million, but the 2,783.13 acres of State Trust Land south and adjacent to Apache Junction went for $245.5 million to homebuilder D.R. Horton Inc. in a live auction Nov. 4.

K-12 schools are slated to be the beneficiary of the land sale in the area called Superstition Vistas between Elliot and Ray roads and from Meridian east about 2 miles.

The auction process started with sealed bids being dropped off Oct. 20 at the Historic 1891 Courthouse in Florence.

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