The Arizona State Land Department is putting a valuable 217-acre parcel—once slated for an Arizona Coyotes arena—up for auction this June. Here’s what real estate investors need to know:
📍 Location & Background
- The site is located west of North Scottsdale Road and north of Loop 101, straddling North Phoenix and Scottsdale.
- Previously targeted by the Coyotes for an arena and entertainment complex, the plan was scrapped after the franchise sold and relocated to Utah.
💰 Auction Details
- Date: June 20, 2025
- Opening Bid: $110 million
- Immediate Payment Required: $14.3 million (includes 10% of appraised value + fees)
- Development Requirements:
- Phase I infrastructure planning must begin within 10 months
- Construction must start within a year
- Project must be completed within 3 years
🏗️ Developer Interest
- Mortenson, a Minnesota-based developer, filed the application to acquire the land.
- They envision long-term mixed-use development but have not disclosed specific plans.
🏘️ Why It Matters for Arizona Investors
- This large infill parcel near Loop 101 offers rare scale and visibility.
- The site is zoned for low-density uses but could be upzoned, making it a potential goldmine for residential, commercial, or mixed-use development.
- Proximity to Scottsdale and key transportation routes boosts its value.
- Adds to trend of state land auctions fueling development booms in Maricopa County.
🔍 Investor Insight
- With rising land values and high construction demand in North Phoenix, this site is poised to attract aggressive bids.
- Winning bidder must be ready to move fast—ideal for capitalized investors with development expertise.