A large infill-development site in Phoenix once considered for a Cardinals football stadium goes on the auction block next month.
The Arizona State Land Department is selling the 64-acre site southwest of 40th Street and McDowell Road for a minimum bid of $20 million. The auction is set for June 17.
"That's going to be a good auction," said Mark Winkleman, state land commissioner. "I expect several parties in attendance."
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Located just north of Loop 202, the L-shaped parcel of state trust land is zoned for a mix of uses.
Offices and retail building would be allowed under the current zoning, along with single-family homes, apartments or condominiums.
The Land Department decided to sell rather than lease the site because it is unclear how the winning bidder will choose to develop it, Winkleman said.
The department typically leases commercial land and sells acreage for residential development.
Centex Real Estate Corp. was the applicant and prepared a development report about the property.
Winkleman said he does not expect the home builder to be among the bidders because of a slump in the new-housing market.
With its central location and freeway access, the land was among the sites in 2000 under review for a new stadium for the Arizona Cardinals. Glendale became home to that facility.
A decade earlier, the land was considered for a baseball stadium for the new Arizona Diamondbacks. The ballpark eventually was built in downtown Phoenix.
Winkleman said the property is one of three true infill sites that remain in the Land Department's portfolio.
The others are a 620-acre site adjacent to South Mountain Park at 27th Avenue and a 22-acre site at Bell Road and 19th Avenue.
It's unclear why the infill sites were not disposed of earlier, he added.
The state trust land is valued at $312,598 per acre.
Potential buyers have to bring a $2.4 million certified check to the auction to qualify as a bidder.
Recent auctions for state trust land near Desert Ridge and elsewhere have been postponed because home builders are trying to get rid of excess inventory and do not want to carry additional acreage for new developments.
