It's madness! At least venture madness, as startups compete for funding.
Senior community planned for GM Proving Grounds spot
Buyers of the GM Proving Grounds in east Mesa are formulating plans for the area. This includes an adult-living community.
NADINE ARROYO RODRIGUEZ: Scottsdale-based home builder AV Homes and the New York investment company Jen Partners recently purchased more than 500 acres of the former GM Proving grounds for $32 million. The empty land is adjacent to the Phoenix Mesa Gateway Airport. AV Homes will build about 1,000 homes for senior living on 310 acres. Jen Partners will develop a gated country club community with luxury homes on the remaining space. AV Homes Ken Plonski says purchasing the land was a smart investment.
KEN PLONSKI: Land prices in the Valley have escalated quite a bit and there’s probably no end in sight of that process. So, being able to identify a parcel like this and acquire it at this point in time I believe is good business.
ARROYO RODRIGUEZ: Plonski says the next step is getting plans approved by the City of Mesa. He says construction could start next year.