Development

Scottsdale developer buys 4,000 acres of Florence land for $82.7M

Move could see more than 12,000 homes on the property

A Scottsdale-based land development company has purchased about 4,150 acres of land in Florence for $82.7 million to develop a master planned community.

El Dorado Holdings purchased the property from Southwest Valley Partners. The more than 4,100 acres of land are divided into two non-contiguous locations

“We will sell the land to homebuilders after it's all planned and developed,” said El Dorado Holdings CEO Jim Kenny.

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