Private equity firm Virtue Partners has acquired a 28-acre parcel of infill land for a future residential community in Goodyear called Bennett Meadows, according to PR Newswire.

Purchasing the land for $2.16 million, or $1.72 per square foot, Virtua affiliate Quyp Development was also able to increase density at escrow. No longer zoned for 10,000 square feet per dwelling unit, density will increase at 6,600 square feet per dwelling unit and is processing a preliminary plat for a 90 single-family lots. The final plat is expected to be completed in 6 months.

The area at Sarival Avenue and W. Harrison Street, adjacent to the Wildflower Ranch neighborhood, is in a prime location near I-10 and AZ State Route 303 with access to multiple shopping and dining options along N. Estrella Parkway.

Of the acquisition, Quinn Palomino, co-founder of Virtua Partners, says with job creation continuing at a successful pace, he expects housing demand to rise. Because of this job growth, he says, “Phoenix has a competitive advantage over California and other regional competitors.”