Harvard Investments Closes on Pacific Proving Grounds North in Mesa, $36m+

Vizzda – October 12th, 2012 — Scottsdale’s Harvard Investments, led by Mr. Craig Krumwiede acquired nearly 567 acres of vacant land for $36,596,690 or $64,544 per acre. The seller was Mr. Bill Levine, who entered a purchase agreement with Havard almost two years ago- dated December 1st, 2010. Nate Nathan brokered the deal.

Pacific Proving Grounds North is located north of the northeast corner of Pecos & Ellsworth Roads and comprises the southern half of the original 5,000 acre General Motors proving grounds. Mr. Levine previously acquired approximately 1,700 acres from General Motors corporation June 30th, 2004 for $45m; or $26,470 per acre. 

The City of Mesa approved a general plan amendment in 2008, designating the 1,700 acres as a mixed-use community. View the 2008 community plan

-->here.

Harvard’s acquisition is planned for two sites:

Signal Butte 105

70 acres single-family residential (zoned RS-6) and 35 acres small lot residential (rsl 4.5)

                 

Pacific Proving Grounds North

484 acres total (461 of which controlled by harvard), to be zoned planned community pc. from the 9/10/12 city of mesa city council report:

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