Scottsdale Arizona Real Estate Blog

by Peter Corbett – Jun. 30, 2008 11:33 AM
The Arizona Republic

SCOTTSDALE – The winning bidder for nearly 17 acres of state trust land near Pinnacle Peak Park will pay $12.75 million for the site.

JTW PPR LLC of Scottsdale, represented by broker Jared Guess of American Realty Brokers of Phoenix, placed the only bid Monday with the Arizona State Land Department.

The property was identified by the state as a resort site, but it could also be used for other commercial and residential uses.

Scottsdale is interested in using a portion of the land to maintain access to its popular hiking and climbing trails at Pinnacle Peak. The iconic peak, visible for miles in northern Scottsdale, has attracted more than a million visitors since the 1.75-mile trail opened in 2002.

Recreation interests are concerned that development of the site could limit access to the park because parking could be eliminated along the access road to the trailhead.

With only 50 spots, the park’s lot cannot accommodate the volume of hikers at busy times.

John Wanninger of JTW also plans to develop the Waterview at Scottsdale hotel and condominium project, northeast of Camelback and Scottsdale roads.

Two other bidders for site near Pinnacle Peak registered with the Land Department, but did not bid Monday:
• Luxury Home Concepts of Phoenix, represented by broker Michele La Blonde of La Blonde Realty LLC of Scottsdale.
• LHC Developments LLC of Phoenix, represented by broker La Blonde of La Blonde Realty.

www.theholmgroupaz.com