Arizona Republic: “Meritage Homes has defaulted on its Desert Ridge property, where the home builder planned to put up a 1,200-home gated community called Calasera. The property, at the southeastern corner of 56th Street and Deer Valley Road, is 288 acres. It was the last sizable Desert Ridge parcel to be in private hands. The company bought the land in July 2005 at an Arizona State Land Department auction for $92.2 million, a record at the time.”
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