PHOENIX — A Newport Beach, California-based company is looking to redevelop the historic Turf Paradise in north Phoenix.
CT Realty is under contract to purchase the horse racing track and its 252-acre site and redevelop portions of the property into industrial space, a data center and single-family and multifamily housing, Axios Phoenix reported. The project is being called Moon Valley Business Park.
CT Realty is "conducting extensive due diligence, processing entitlements (to redevelop) and [is] in discussions with a variety of regulatory agencies,” James Watson, managing partner for the developer, told Axios Phoenix.
Turf Paradise is a thoroughbred and quarter horse racetrack at 19th Avenue and Bell Road in north Phoenix. It's been in operation since 1956.
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