Phoenix will use $18 million in proceeds from bonds approved by voters in 2001 and 2006 to buy 247 acres of state trust land near South Mountain Park.
The city will build a fire station, library, and a 40-acre park on the site while leaving more than 100 acres undeveloped.
Phoenix acquired the land in the Ahwatukee Foothills at a lower-than-expected price due to the slowdown in housing construction in the state. The city, which had sought a private partner to help develop the land before the price fell earlier this year, was the only bidder on the property.
