The Arizona Republic examines the anatomy of a major housing development by following the story of Lot 1311 in Phoenix.
"Constant demand for homes is the adrenaline that drives the Phoenix housing industry. According to a new Arizona Republic economic analysis, the Phoenix housing industry generates one out of every three dollars moving through the metropolitan economy. No other major U.S. city relies as much on the housing industry for its economic well-being.
In the first of a five part series, The Arizona Republic traces the "demand for deals and profits at Lot 1311 from first plans for the development to a home sale."
..."Four years before the Johnsons made their offer for Lot 1311, the decision as to whether it would become a home site or remain a windy stretch of open desert rode on a Buckeye Town Council vote. On the day of the vote in November 1999, Karrin Taylor left her central Phoenix office for the 80-mile round trip out to Buckeye. The council would vote that evening on an annexation proposal for the 8,800-acre Verrado site, but there were still a few more details to settle."
Thanks to Chris Steins
FULL STORY: Lot 1311: Right location can mean profits for everyone
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