Mortgage And Real Estate News

Sunday, February 9, 2014

Deal on land in downtown Surprise OK’d


Phoenix signed off on a historic deal Wednesday that cut the city’s ties to a square mile of land in the heart of Surprise it has held for more than 65 years.

The agreement clears a key legal hurdle that has long delayed Surprise’s plans to build an urban downtown. Is also allows Phoenix to reap fair market value from a decade-old land swap.

Meanwhile, nearby Luke Air Force Base, which is in Glendale, will be able to fly jets over the site without fear of liability, except if a plane crashes or something is damaged by an object that falls from a plane.

Read more...Deal on land in downtown Surprise OK’d

Reuters: Business News

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