Phoenix Land Sought by Arizona Coyotes Gets OK to be Sold; Bidding to Start at $68.5M Article originally posted on AZ Central on March 15, 2024 The Arizona State Land Department Board of Appeals on Thursday unanimously approved the $68.5 million appraisal of 95 acres of land sought by the Arizona Coyotes. There were no questions or discussion about the appraisal on the land at the northwest corner of the Loop 101 freeway and Scottsdale Road, and the 4-0 approval took less than two minutes. The board’s decision clears the way for the Arizona State Land Department to sell the land at auction with a starting price of $68.5 million. The department now must issue a notice setting the auction date, which has to be publicly advertised for 10 weeks. That means the auction may not occur until June at least. Most state trust land auctions draw just one bidder. But recent sales near Loop 101 in Phoenix and Scottsdale have prompted bidding wars and driven up prices, and the desirable location of the property sought by the Coyotes is likely to draw competition. The Arizona Coyotes, through the law firm Fennemore Craig, put in an application to auction the land last June. In January, the name on the application was updated to Miracle Development, a new affiliate of Coyotes majority owner Alex Meruelo. The application is for a mixed-use commercial development with initial phases of construction to be complete in 2027.