BUCKEYE, ARIZONA | OPPORTUNITY ZONE
± 8.52 Acres
PARCEL NUMBER | ZONING
400-38-004L | 2.195 Acres or 95,605 / Land SF | CC
400-38-004H | 2.540 Acres or 110,661 / Land SF | MR
400-38-004M | 3.652 Acres or 159,096 / Land SF | MR
400-38-004N | .134 Acre or 5,721 / Land SF | MR
Total: 371,183 SF
2.8. – Obsolete Districts
The districts in this Section are carried forward from the prior superseded edition of the Buckeye Development Code. No future rezoning’s may occur to any of the districts listed in this Section. Development on property having an obsolete zoning district classification is permitted subject to the development standards in Appendix B and occupied by uses in Appendix C.
2.8.3. Mixed Residential
The Mixed Residential Zoning District is designed to accommodate both single- and multiple-family residential development, historic residential neighborhoods, and compatible commercial uses.
2.8.5. Commercial Center
The Commercial Center Zoning District is designed to accommodate a variety of commerce and specialized development, including commercial uses that comprise the central business district of the City.
Density, maximum (du/gross acre)
The subject site is located 5 miles South of the Interstate 10 and 2 miles East of the Arizona 85. The site is zoned Community Commercial and Mixed Residential. The site is 8.52± acres in size and neighbors include Riverwood Apartments (West), Earl Edgar Recreational Park (North), and Agricultural land (South & East). The site meets the physical, legal, and financial feasibility criteria to be developed as a commercial or especially an affordable multifamily development site.
The subject site is well served by numerous regional transit routes including Interstate 10, Arizona 85, future Interstate 11, and the Buckeye Municipal Airport. The combination of transit linkages along numerous logistic and industrial complexes suggests a strong potential for multifamily development.
The Buckeye submarket is becoming a robust transportation corridor with direct access to the Union Pacific Railroad. It provides a one-day turnaround to the Southern Californian ports and direct access to other major markets. Buckeye sits at the crossroads of international freight movement with Asia from the West and Mexico from the South through the Port of San Luis and the CANAMEX. The city has experienced tremendous growth over the past 10 years, a shift from an agricultural economy to healthcare, entrepreneurship, logistics, distribution, and manufacturing. Employers are attracted to the area’s growing infrastructure, housing supply, and transit linkages.
Opportunity Zones is a new community development program authorized under the Federal Tax Cuts and Jobs Act 2017, which is designed to encourage long-term investment into qualifying Census tracts.
The program provides tax incentives on capital gains monies invested into these zones while bolstering economic development activity in local communities across the nation.
1 - DERERRAL - Realize a capital gain, reinvest it in an opportunity fund. Taxation on the gain deferred until 2026.
2 - 10% REDUCTION - If opportunity fund investment held for 5 years by 12/31/26, tax on previous deferred gain reduced 10 percent.
3 - 15% REDUCTION - If opportunity fund investment held for 7 years, by 12/31/26, tax on previous deferred gain reduced 15 percent.
4 - ELIMINATION - If opportunity fund investment is held for 10+ years, no capital gains tax assessed on that (second) investment.
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