Peoria has seen plenty of sales recently when it comes to Arizona State Land Department auctions, in what local officials believe is a sign of healthy economic development in the city.
About 75% of the remaining vacant land in Peoria is state trust land, which is acquired through land auctions to the highest bidder with proceeds having a number of beneficiaries, primarily Arizona public schools.
During the past year, builders have been gobbling up state land in the north Valley to supply microchip manufacturer Taiwan Semiconductor Manufacturing Co. Peoria has seen similar demand since last October, with five land acquisitions totaling more than 830 acres within the city, at about $182 million total.
