TUCSON, ARIZONA (Nov. 15, 2022) KB Home Tucson c/o Andrew Gasparro was the successful bidder for the purchase of 210 acres of State Trust Land at the Arizona State Land Trust auction back in August 2021 for $10.625 million ($50,595 per acre) a total of 210 acres at Irvington and Camino Seci in Tucson.
The bid was for appraised value, the lowest amount the property is legally allowed to be sold.
The first takedown of block 1 was for +/- 50 acres and 227 SFR lots, a mixture of 40' and 50' x 120' at Bella Tierra Community, that sold for $2,529,750.
A second takedown of three maximum takedowns was excercised recently by KB Home for an additional 36 acres of the remaining 160 acres. This transaction will be the second phase of Bella Tierra Community at Irvington and Camino Seci. The Tentative Plat and all improvement plans were approved prior to the closing, and the Final Plat is expected to be approved by Tucson’s City Council on Monday, 11/14.
This second phase of Bella Tierra of 36 acres, will be used to plat and develop 105 homesites with a mixture of 40' and 50' wides and sold for $1,821,420.
The seller was Arizona State Trust – Land Department c/o Ms. Lisa Atkins, Arizona State Land Commissioner.
To learn more, see RED Comp #10264.