Land developer to install RV park after $1 million investment in Camp Verde land
Sep 14, 2024, 9:00 AM
Recreational Investment Group LLP spent $1 million on land in Camp Verde, Arizona to install a new RV resort. (Madrid Media photo)
(Madrid Media photo)
PHOENIX — Recreational Investment Group LLP plans to install a new RV resort after purchasing nearly 16 acres of land in Camp Verde, Arizona, according to a Thursday press release.
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The vacant property is located at the northwest corner of Highway 260 and Dickison Circle, accessible to travelers on the Interstate 17 and State Route 260.
It has been classified an opportunity zone, which is a classification tool for low-income communities across the United States that can be invigorated by economic growth and job creation. The land, which was sold by Verde Valley Holding Company LLC, was the second-to-last parcel available for purchase inside the opportunity zone.
The buyer fulfilled its end of obligation by engineering the site and gathering town approvals and permits.
“It’s great to see this property becoming a use that will serve the broader community so well,” Capri Barney, representative of Land Advisors Organization’s Prescott office, said. “As an Opportunity Zone property wit C-3 zoning, interest from RV community developers was high.
“Plus, given the property’s prime location, with convenient access and proximity to numerous Northern Arizona communities, developing a community with more affordable residential options makes perfect sense.”
Verde Valley Holding Company LLC most recently sold 26.63 acres of land to Camp Verde Land Holdings, LLC, in March 2023. The property at the southeast corner of Highway 260 and Homestead Parkway was converted into a build-for-rent community.
