Biggest Land Sale In Arizona History
30 September 2005 - 2:00pm
Chrylser, in a $400 million deal, has sold its proving ground facility outside Phoenix to real estate developers. The land could support tens of thousands of residents.
"Real estate analysts value the deal at more than $75,000 an acre. DaimlerChrysler's proving grounds is mostly vacant, unimproved land. It has a few office buildings and laboratories along with the paved test tracks and other vehicle-testing areas.
The site needs enough water and sewer capacity to house a community with tens of thousands of residents, so its owners are talking to nearby cities such as Surprise about annexing it."
Full Story:
$400 million Chrysler land sale a state record
Source:
The Arizona Republic, September 30, 2005
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At a much larger economic scale, however, one mustn’t avoid calculating the tremendous and exceptional externalities of automobile dependency.
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