Development Enters The Urban Core In Phoenix

"Pulte Homes won a spirited bidding war for 88 acres of vacant land near Greenway Road and 19th Avenue, paying $17.4 million, or about $198,000 an acre, nearly double the appraised value. Pulte plans to build houses on the site. The sale leaves only a handful of centrally located parcels big enough for infill projects. Land Commissioner Mark Winkleman said he hopes to sell them by the middle of next year, shifting an even greater focus to the state's vast holdings around the Valley's edges."