Tuesday, April 8, 2014

South Phoenix Nursery in Pre-Planning for a 96 Lot Sub-division

By: Paul Dionne | Vizzda.com

April 7th, 2014 — a 43.5 acre parcel of land south of the southeast corner of 24th Street and Southern Avenue was acquired last week for $4,019,440 or $92,400 per acre. The buyer was Joel B Kramer of CBIZ in his sole capacity, in care of Scott Ward. Currently a plant nursery doing business as Waldron Farms, the site is undergoing planning and zoning approval for a 96-lot subdivision called “Versailles Des Jardin”. The new owners had previously acquired the adjacent 2.43 acres to the north for $223,250, roughly the same valuation as the larger portion on a per square foot basis.
Future site of Versaille Des Jardin
The assemblage totals 48.17 gross or 45.88 net acres, zoned MUA. The subdivision will be comprised of a mix of 140’ x 90’ and 150’ x 90’ lots with a maximum allowable density of 2.0 units per acre and a minimum gross open space of 12% or 5.78 acres. A preliminary meeting was held on August 19th, 2013 and approval of the Preliminary Site Plan was afforded an extension on September 10th, 2013. Once the Preliminary Site Plans have been submitted and approved, the submittal will be subject to a Planning Hearing Officer (PHO) case, at which time approval or rejection of the specific elevations will take place and the builder (pending approval) can begin applying for permits.

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