October saw three land purchases that are planned multifamily projects.

Southbank Lot 6. Jared B Black at the Wolff Company at Bay Miltenberger and JLB Partners plan to build 272 units located at 1190 E Vista del Lago Drive in Tempe, AZ.

Firerock Parcel B. Toll Brothers acquired this property on 10/16/2015 for $5,887,500. They plan to build 64 duplex units in 32 buildings located in Fountain Hills, AZ.

Crescent Highland. Crescent Communities acquired this property on 10/5/2015 for $7,650,000. The land is currently occupied by a vacant restaurant, two single family homes, and a vacant automotive center which are all planned for demolition. A high density mixed use development will be built to include 350 apartment units, a club house, and retail space.

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