Development

Peoria land goes for $72.6M at state land auction

Home builder Ashton Woods Arizona LLC bought 328 acres of Arizona State Trust Land in Peoria at the northwest corner of Happy Valley Road and the 75th Avenue alignment for $72.6 million at a state land auction Jan 6.

The competitive auction started with an opening bid of just under $47 million and netted nearly 260 bids.

The area is zoned and entitled as part of the Aloravita planned community district. The Aloravita housing community, with two phases, has plans for nearly 4,000 units.

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