On March 10, 2014, Mr. Bob Parsons purchased the 223-acre parcel of land known as Sierra Reserve, which is directly adjacent to his recently acquired Scottsdale National Golf Club. This acquisition affords Mr. Parsons the flexibility to achieve his objectives and goals for the Club. He very recently made the offer to purchase the land with terms and conditions that were carefully considered and ultimately approved by the Reserve Development partners.
While we are definitely disappointed that Sierra Reserve will not be developed, we are extremely grateful for the widespread enthusiasm that the community had for our vision. We also want to take this opportunity to express our sincerest gratitude to our prospective buyers, the real estate community, our vendor partners and members of the media for your time, interest and support, and to our incredibly talented team for the hard work, dedication and commitment to making Sierra Reserve a truly one-of-a-kind place to live.