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PALM DESERT, CA-The City Council here has approved a land tradewith an Irvine developer in hopes of creating a project includinghigh-end retail space, a hotel and condominiums. Under the dealapproved recently by a council vote, the city will take title to11.24 acres at Country Club and Desert Willow drives that is valuedat $6.2 million.
The 11.24 acres is owned by developer Sanderson J. Ray DesertSprings Partners. In exchange for the title to the 11.24 acres, thecity will give Sanderson J. Ray 9.34 acres valued at $3.2 millionnear Portola Avenue and Country Club Drive, plus $3 million incash. The deal is scheduled to close before the end of thisyear.
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