Quote:
Originally Posted by xymox
Interesting land sale up in the Desert Ridge area. ZOM Living (Miami based multi-family projects) purchased the NW corner of L101 & 56th St. If you look at ZOM’s website - they seem to primarily build hi-rises in Miami - upscale stuff. Wonder what their plans are for that corner...
https://azbigmedia.com/real-estate/z...nix-for-34-9m/
Can’t imagine that corner is zoned for anything over 56ft, but maybe?
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We started discussing that a couple pages back in the midrise thread, they also purchased 6 acres across the street and parcels in DT Scottsdale and near the Biltmore. The do high rises, but also do a lot of midrise and mixed use developments too.
I am positive everything within High Street and City North is zoning up to 120'. That parcel I believe is included with that zoning, across 56th to the East it steps down substantially.
I am curious how that area will play out. Crown owns City North, and also has master development rights for all of Desert Ridge. I would assume they probably wanted that parcel to add to City North, and are probably not happy ZOM was able to obtain it. Anything ZOM tries to develop will still have to go through Crown and I am not sure how cooperative they will be with someone trying to develop mixed use adjacent to their City North development, essentially marketing to the same clientele.