The first portion of a swath of state land in north Phoenix that the city is aiming to reposition as a major employment corridor will go up for auction Nov. 2.
The parcel, which totals about 1,128 acres at the northwest corner of Loop 303 and the 43rd Avenue alignment, will be sold for a minimum of $89 million, according to the auction notice posted by the Arizona State Land Department.
The auction will take place after the Phoenix City Council has its Oct. 21 hearing on the planned unit development for the area, which will encompass the entire parcel, about 3,700 acres.
The rezoning was requested by the city’s planning and development department to “reinforce the location as a destination for employment uses within the Interstate 17 employment corridor,” according to city documents about the general plan amendment.
The portion scheduled to be auctioned on Nov. 2 is proposed to be rezoned as a technology park, which is allowed the same uses as a general commerce park zoning and allows offices, research laboratories, warehousing and manufacturing, and prohibits any type of residential use.