California Developer Under Contract to Purchase, Develop Turf Paradise in Phoenix

Article originally posted on Phoenix Business Journal on April 24, 2023

A Newport Beach, California-based company is looking to redevelop the historic Turf Paradise in north Phoenix.

CT Realty is under contract to purchase the horse racing track and its 252-acre site and redevelop portions of the property into industrial space, a data center and single-family and multifamily housing, Axios Phoenix reported. The project is being called Moon Valley Business Park.

CT Realty is “conducting extensive due diligence, processing entitlements (to redevelop) and [is] in discussions with a variety of regulatory agencies,” James Watson, managing partner for the developer, told Axios Phoenix.

Turf Paradise is a thoroughbred and quarter horse racetrack at 19th Avenue and Bell Road in north Phoenix. It’s been in operation since 1956.

Turf Paradise houses a sportsbook, and it’s unclear if that will remain under the redevelopment plans. The clubhouse on the property could remain, according to plans submitted to the city of Phoenix.

Find the Complete Article Here: https://www.bizjournals.com/phoenix/news/2023/04/24/phoenix-turf-paradise-redeveloped.html?cx_testId=40&cx_testVariant=cx_9&cx_artPos=3#cxrecs_s

Turf Paradise in Phoenix could be redeveloped.

Turf Paradise in Phoenix could be redeveloped.

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