As more and more growth has moved to the northwest of metropolitan Phoenix, interest from developers in the land around the lake has grown.
Phoenix-based Bridge Financial Corp. has purchased a 5,263-acre parcel near Lake Pleasant for $25.85 million. Bridge Financial Corp., the leading division of publicly traded NZ Corp. The company considers this a "strategic acquisition" and is planning to find a joint-venture partner to develop the parcel in the near future, says Joe Joseph, treasurer for NZ Corp. The land purchased by Bridge Financial is bordered by Arizona State Highway 74, Dysart Road, the Carefree Highway and Sarival Avenue.
Earlier this year, active-adult builder Del Webb paid $28.6 million for an interest in a 2,100-acre plot north of Sun City West, just south of Lake Pleasant.
Shea Homes placed a baseline bid of $85 million for a 7,100-acre tract near the lake. This property land is owned by the Baptist Foundation of Arizona, which filed for Chapter 11 bankruptcy protection earlier this year. The property, know as Pleasant Point, is northwest of 99th Avenue and Jomax Road and goes to auction on Oct. 30.
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