Arrested Tucson development Saguaro Springs to rise again

There may soon be signs of life at Saguaro Springs, a planned 2,400-home subdivision near Rattlesnake Pass just west of the Tucson Mountains. In 2006, the square-mile project was hailed as an up-and-coming residential development as it moved through town permitting processes. Roads were paved and some infrastructure was put in, and KB Home built three model homes. By April 2008, project partner Empire Land LLC, of California, had declared bankruptcy. Last year, KB Home tore down the vacant and gutted models, citing liability concerns. Now, Scottsdale-based Grayhawk Development is developing the land for a company called Marana 670, which bought the note. "We purchased the note from the original lender of the original project, and then we spent six or eight months working on the issues relating to the note and then foreclosed," said Brian Baehr, Grayhawk vice president of land development.

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