Arizona state Land Auctions to Generate More Than $300M This Fiscal Year

Article originally posted on Phoenix Business Journal on November 6, 2023

The Arizona State Land Department is projecting more than $300 million in land sales for the fiscal year ending June 30, 2024.

That’s up from $292.1 million in revenue generated during fiscal 2023 — across 13 transactions totaling 5,580.09 acres, according to the department.

Robyn Sahid, executive deputy commissioner of the state land trust, said she’s seeing the highest demand for infill properties, especially those zoned and only requiring design review.

Currently, there are applications active at Vistancia in Peoria, Desert Ridge for retail and homebuilding as well as north Phoenix for commercial and homebuilding projects, she said.

Read complete article here: https://www.bizjournals.com/phoenix/news/2023/11/03/state-land-auction-revenue-projections.html