In May of 07 I wrote about the record price paid ($4,950,000) for a home in the ultra-luxe Saguaro Ranch development out in the boonies of the northwest side. Record Price for Tucson Home (and a creative title to boot)
Now less than two years later, the Arizona Daily Star reports on what may be the demise of this very ambitious project.
Luxury-home project is now a tunnel to nowhere
I hope they're able to pull through. But the current financial mess combined with negative pr, does not bode well for a big buck community that's dependent on the whims of, what are now, less well-off discretionary buyers.
