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Crown Wins Bid for 100-Acre North Phoenix Development Site

Crown Realty & Development acquired 96.5 acres and will take over as master developer of a prime North Phoenix site envisioned for a new urban core project. Crown’s winning bid for the land was $54 million, though the Bankruptcy Court had previously valued it as high as $121 million.

The property and rights have been the subject of active litigation and bankruptcy for a decade. The acquired acreage comprises the majority of the vacant land east of the 1.2-million-square-foot Desert Ridge Market Place and existing High Street. The land is zoned for about 2,500 residential units, two million square feet of office, 500 hotel rooms and 100,000 square feet of retail.

Crown’s Robert Flaxman says, “Unlocking this parcel from years of litigation now provides the opportunity to develop a 21st century urban community on the north side of Phoenix. What Century City was to Los Angeles in the 1960s, the new City North project will be to Phoenix.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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