Pulling out
Five developers previously pulled out of northeast Phoenix’s Desert Ridge community because of the bad economy.
They are:
• D.R. Horton Co. The home builder kept 83 of 189 acres it purchased in March 2004. The land is at the southwestern corner of Tatum Boulevard and Pinnacle Peak Road.
• Toll Brothers
. A luxury home builder, Toll defaulted on land it won at auction in March 2004. The 81-acre site is at the western end of Desert Ridge, at the southeastern corner of 32nd Street and Deer Valley Road.
• Rightpath Limited. The company bought 269 acres west of Tatum on the north side of Loop 101 in April 2007.
• Gray Development Group. The apartment developer bought 41 acres in May 2004, north of Desert Ridge Marketplace.
• Toll/Pulte Homes Joint Venture. The partnership bought a 503-acre parcel in August 2005. It is on the east side of 56th Street north of Deer Valley.
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