Is my entire condo community likely to get bought out?

[Raul M.]

Hi everyone, 

My name is Raul Mishiyev and I'm a long time podcast listener, but first-time poster. 

My family owns a small condo in the Biltmore area in Phoenix, AZ. That particular area has seen a lot of new high-end development in recent years, mostly condos and apartments. 

Compared to the newer developments, our community is bit outdated (built in the 1960s). Would it be probable that a developer (or govt entity) would buy out our entire condo complex to build new condos/apartments instead? 

Is there a way/resource I could use to find out if any offers have been made or will be made on the existing condo community? 

If a developer would want to buy the entire complex, how many signatures would they need (% wise)?  In your experience would we be offered a cash payout or would we get a condo in the new building instead? 

I appreciate your responses in advance! 

Raul Mishiyev