Long-Dormant Development Set to Get Underway in Peoria
If one drives on Highway 60 northwest out of Phoenix, through Glendale, one lands in Peoria, Ariz., where a master-planned community project known as Saddleback Heights. Castle Hill Partners has purchased that 5,261-acre project, according to a news release. The seller is the Land Advisors Organization.
The parcel is the largest remaining undeveloped master planned community project site in the city of Peoria, which refers to this and similar projects as “Planned Area Developments”.
The initial plan for Saddleback Heights dates back to the 1990s, according to the release; however, the initial, publicly available documentation dates to Dec. 20, 2001. Now, though, Castle Hill Partners plans to immediately begin developing the site.
Involved in this large land deal include, per the release:
The purchase marks the developer’s first master planned community development in Arizona. Land Advisors Organization professionals Greg Vogel, Ryan Semro, Bret Rinehart, Mike Schwab and Wes Campbell represented Vandon Partners, LLC, a partnership between Diamond Ventures and VT LandGroup, the seller in the transaction.
Saddleback Heights is set amongst the natural Sonoran Desert foothills in the northwest Valley, providing panoramic mountain views, excelling schools, parks, trails, significant open space and only minutes to the popular Lake Pleasant recreational area.