$58.6 Million

A 1,010 acre parcel of state land adjacent to Apache Junction sold at auction for $58.6 million. The parcel of land, along with surrounding properties, is more commonly known as Lost Dutchman Heights. The winning bidder was Desert Communities Incorporated, an affiliate of Rhodes Homes. The money raised from this auction is targeted for public schools. The plan is to develop a beautiful, high-quality master planned community. As the winning bidder, Desert Communities is required to master plan all of Lost Dutchman's 7,700 acres.