Alliance Residential bought 16.92 acres of land in Goodyear for $5,425,000, according to the commercial real estate tracking website Vizzda.

The land is located at the southeast corner of Estrella Parkway and Lower Buckeye Road in Goodyear.

READ ALSO: Goodyear and Buckeye among Top 10 cities for growth in 2020

The seller was El Dorado Holdings.

Bret Rinehart, Ben Heglie, and Ryan Semro of Land Advisors represented the seller.

Alliance Residential has proposed Prose at Ballpark Village, a 360-unit multifamily development and intends to use the land for that development.

The Goodyear Ballpark area has become a hot spot for multifamily development.

In March, Jackson Dearborn Partners, a real estate investment and development company based in Chicago, announced the formal groundbreaking of Solace at Ballpark Village, a 211-unit multi-family development in Goodyear.

This project is being developed in partnership with Sub4 Development, a construction and development services firm based in Champaign, IL with an office in Scottsdale, AZ. Solace is a 211-unit market rate apartment project, with 3-story walk up buildings and a central elevator served core building with the leasing and amenity suite on the first floor. The comprehensive amenity package includes resort-style pool with outdoor bar, fitness center with studio space, communal kitchen, co-working business center, and dog run and adjoining spa. Units will feature high-end finishes including luxury plank flooring, stainless steel appliances, quartz counter-tops, and in-unit washer/dryers.