WILLIAMS, AZ — Developers in escrow for a 500-acre parcel of private land in northern Arizona are planning to build at least 1,000 homes and are in talks to create a theme park.
Total development costs for the entire project are estimated at around $500 million, said Brent Moser, principal of Lee & Associates Commercial Real Estate Services in Phoenix.
This parcel near Bearizona Wildlife Park and Grand Canyon Railway & Hotel in Williams could be the last parcel of private land in northern Arizona, Moser said.
Moser and Mike Sutton, also a principal of Lee & Associates, are handling the transaction negotiations and also are taking a lead role in what Moser calls quarterbacking the project on behalf of Witchita, Kansas-based Kansas Development.
While it could take 10 to 15 years for the entire project to be built, the first phase of development would be a $150 million to $200 million investment, Moser said.
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