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Developers Eyeing Lake Pleasant Area; Some Large Lakeside Parcels Already Snapped Up

PHOENIX-Looks like Lake Pleasant area could be hot spot for development, as the growth edges northwest of Phoenix.

By D. J. Burrough | Updated on October 13, 2000

PHOENIX-Land surrounding a 10,000-acre lake near metropolitan Phoenix is getting more and more attention from developers. Lake Pleasant lies within the city limits of Peoria, which is about 30 miles north of Phoenix.

As more and more growth has moved to the northwest of metropolitan Phoenix, interest from developers in the land around the lake has grown.

Phoenix-based Bridge Financial Corp. has purchased a 5,263-acre parcel near Lake Pleasant for $25.85 million. Bridge Financial Corp., the leading division of publicly traded NZ Corp. The company considers this a “strategic acquisition” and is planning to find a joint-venture partner to develop the parcel in the near future, says Joe Joseph, treasurer for NZ Corp. The land purchased by Bridge Financial is bordered by Arizona State Highway 74, Dysart Road, the Carefree Highway and Sarival Avenue.

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