The first article, GM sale could invigorate east Mesa, from the Arizona Republic, reports that the development of the GM Proving Ground will shape southeast Mesa's future look and personality. "The General Motors property is probably the most attractive property in the entire Southeast Valley for development," said Wayne Balmer, a land-use consultant who helped plan the area. "This property will set the tone and character for southeast Mesa's future and how it is developed." A recent land-use study of the airport and the 50-square miles around it by the Urban Land Institute reinforced belief that some housing should be part of the development mix near the Williams Gateway airport and that could be part of the mix with the GM Proving Grounds. Sources identified the buyer of the GM property as Scottsdale based DMB Associates, known for its high-end projects, including residential communities.
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The second article, Phoenix OK's increase in development fees, from the Arizona Republic, reports that the Phoenix City Council approved increasing impact fees in the growing northern and southern flanks of the city. The fees in Ahwatukee rose to $17,500 per home, and nearly $24,000 in North Black Canyon City. Impact, or development fees, are fees charged for each new home to cover costs for parks, libraries, police and fire protection, and water and sewer infrastructure. The city assesses these fees in growth areas where the cost to bring in these services is higher than in infill areas. Builders usually pass these fees onto the homebuyer in the form of higher housing prices.
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The third article, $10 million sets Scottsdale house sale record, from the East Valley Tribune, reports that a house sold on Tuesday for what may be the highest price ever paid for a residential property in Scottsdale. The home, located at 9422 E. Happy Valley Road was sold for $10 million, according to Bob Hassett, a broker with Russ Lyon Realty. The buyer plans to resell the house and subdivide the 20-acre lot into smaller lots for construction of two more luxury homes, Hassett said. The 27,000 square-foot house has six bedrooms, eight baths, four fireplaces, an eight-car garage, two separate guest apartments and an indoor swimming pool and tennis court. It was built in 1994 by Kitchell Custom Homes and cost more to build 12 years ago than it was sold for on Tuesday, Hassett said. The owner originally sought $35 million for the property but the price was reduced to sell. RL Brown, the Valley's housing guru, said he was not surprised that the seller had to lower the price because the high end of the market has been affected by the same pressures as less elaborate homes. He said the Scottsdale property appears to be more of a land deal than a housing deal.
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