California developer under contract to purchase, develop Turf Paradise in Phoenix

A Newport Beach, California-based company is looking to redevelop the historic Turf Paradise in north Phoenix. CT Realty is under contract to purchase the horse racing track and its 252-acre site and redevelop portions of the property into industrial space, a data center and single-family and multifamily housing, Axios Phoenix reported. The project is being called Moon Valley Business Park.