Lenders have taken back the 10,100 acres once meant to sprout a new master-planned community on what's now Goodyearland.

The foreclosure frees the lenders to sell or develop the property northwest of Arizona 238 and the Maricopa-Pinal county line.

Before the recession began, Montage Holdings had planned to build a community called Amaranth.

Amaranth Land LLC took over the acreage June 30 at a trustee sale. The company includes five lenders, according to Goodyear, and there were no bidders at the sale.

Two officials with New York investment bank Goldman Sachsare Amaranth Land's managers, according to Arizona Corporation Commission records. A Goldman Sachs spokesman declined to comment on their plans.

For Goodyear, the sooner the plans for the land take shape, the better, Mayor Jim Cavanaugh said.

"We need action down there," he said.

In September 2006, Scottsdale-based Montage bought the propertyto build Amaranth near the Mobile community, in the Sonoran Valley. The company later promised to pay Goodyear $2.5 million a year for police and fire services in the area.

In March 2007, Goodyear annexed 67 square miles south of Patterson Road to bring the development into the city.

But that's about as far as things got.

In November, Goodyear announced Montage was facing "imminent" foreclosure. The company had a $250.1 million loan on the property but couldn't make its payments.

This year, the city signed an agreement with Maricopa for fire services and renegotiated its Sonoran Valley contract with the Maricopa County Sheriff's Office for patrol services. The accords were intended to decrease Goodyear's costs to protect the annexed area.