Fountain Hills Zoning Changes
Fountain Hills OKs zoning changes, an article from The Arizona Republic, reports that the Fountain Hills Town Council voted 6-0 this week in favor of zoning changes that give builders more flexibility in developing a 13-acre lot in downtown Fountain Hills. The changes allow for taller buildings, reduced setbacks, shared parking and residences on the property. In the proposal by Conrad Properties West and Kasnoff Investments, Fountain Hills Town Square would have restaurants, retail, lofts, condos and offices anchored by a large cinema. Councilman Henry Leger said, “There’s been a vision in this town for many years . . . of a vibrant downtown. We need a zoning district that will enable a mixed-use development.”
Fountain Hills Market Report, January 2008
Fountain Hills is a beautifully family town and it definitely shows its appreciation in the early turn-around for single family residences. Usually, January is the slowest month of the year. Houses sales are up and quicker as well. The value per Sq. Ft. is 4.86% higher comparing to December 2007 and +26.15% - comparing to January 2007. Market is definitely getting stronger in Fountain Hills and that’s where it goes.
State Trust Land Up For Sale
Another chunk of Arizona state trust land is up for sale just East of North Scottsdale in an area currently known as Rio Verde Foothills (an equestrian neighborhood with wide open spaces and a more laid back lifestyle).
At least four major home builders are interested in developing a 2 square mile area of state trust land north of Fountain Hills.
The 1,312 acres of trust land will be auctioned off in June to the highest bidder. MCO Properties, SunCor Development, Pulte Homes and Toll Brothers Homes have all expressed interest in this land.
Fountain Hills Changing Its Address
Arizona’s newest two-comma town: Fountain Hills!
The East Valley Tribune reports that Fountain Hills is becoming a new destination for luxury housing and estates. Last week, four homes went on the market for $3.2 million to $4.6 million each, and next month another house is expected to be listed at $7 million. The town’s top attraction is ample amounts of mountainside "city lights view" property available for purchase.