5,500-Acre Chrysler Proving Grounds...

State record: $312 mil land sale, from the Arizona Republic, reports that Toll Bros., Meritage Homes and mall developer Simon Property Group have teamed up and purchased the 5,500-acre Chrysler Proving Grounds in the Northwest Valley for a record $312 million ($56,727 per acre). They are planning a mixed use project that will include a variety of housing, employment and shopping, and possibly one of Simon's trademark big malls. The land is between Arizona 74 and U.S. 60 near Wittmann. Surprise is expected to annex the property. "We expect state of the art architecture and home design," said Scott Chesney, Surprise planning manager. It will take two to three years to plan and prepare the site for development, but it could contain up to 30,000 homes. RL Brown states "It's going to be interesting to see what the developer creates to make his marketing dream come true."

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