The Plaza
Townhomes in Chandler
$2,286,029 / $8 per SF / $35,170 per Unit
Located South of the Southwest corner of Priest Drive and Ray Road, the 6.56 net acre graded land is planned for 65 three-story townhomes. Minimum lot dimensions are 30’ x 60’ with an average lot size of 2,254 SF. Plans call for 8’ front setbacks and a maximum 9.9 density units per acre. The project was formerly known as Chandler Pavilions, platted in 2007 for 94 condo units in 8 buildings. Trend Homes submitted to amend the plat in late October 2012; the planning document can be found here.
Located South of the Southwest corner of Priest Drive and Ray Road, the 6.56 net acre graded land is planned for 65 three-story townhomes. Minimum lot dimensions are 30’ x 60’ with an average lot size of 2,254 SF. Plans call for 8’ front setbacks and a maximum 9.9 density units per acre. The project was formerly known as Chandler Pavilions, platted in 2007 for 94 condo units in 8 buildings. Trend Homes submitted to amend the plat in late October 2012; the planning document can be found here.
Seller was an entity formed by Sabal Financial (fka
Milestone Asset Management), who had previously acquired the note through an
FDIC structured sale of AmTrust Bank. Milestone foreclosed on the property
through trustee sale 6/3/11 - $1.6M Credit bid on $14,910,745 original Amtrust
debt ($8.5M LOC + $6.41M land loan). The prior owners had acquired the land
3/1/2006 for $3,556,461.
Princess Townhomes
in Scottsdale
$3,550,000 / $17.57 per SF / $68,269 per Unit
Located East of Hayden Road and South of Princess Blvd--just west of the Princess Resort. The site totals 4.64 net acres zoned R-5 and, per aerials, is still un-improved land. Plans submitted to City of Scottsdale earlier in December propose for the site to include 52 townhomes in 14 buildings. Typical lot dimensions vary from 30' x 60' and 40’x 60’ with an average area of 2,400 SF. The plans call for 8’ front setbacks and a maximum of 10.53 density units per acre. The site was previously planned for the Resort Residences- a 163 unit hotel at 33 density units per acre. Trend’s latest proposal can be found here.
Located East of Hayden Road and South of Princess Blvd--just west of the Princess Resort. The site totals 4.64 net acres zoned R-5 and, per aerials, is still un-improved land. Plans submitted to City of Scottsdale earlier in December propose for the site to include 52 townhomes in 14 buildings. Typical lot dimensions vary from 30' x 60' and 40’x 60’ with an average area of 2,400 SF. The plans call for 8’ front setbacks and a maximum of 10.53 density units per acre. The site was previously planned for the Resort Residences- a 163 unit hotel at 33 density units per acre. Trend’s latest proposal can be found here.
Seller was an entity formed by First National Bank of
Hutchinson who had previously acquired the property by deed-in-lieu on February 2nd, 2010 on $4M original outstanding debt.
Managing Director
www.vizzda.com
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