By Melissa St. Aude for Casa Grande Dispatch
Plans to develop PhoenixMart — a 1.5MSF sourcing center and business complex on Casa Grande’s east side — are “moving very quickly,” AZ Sourcing Senior Vice President of Public Relations Patrick Welch told a group gathered Feb. 20 for the Greater Casa Grande Chamber of Commerce’s Business Outlook lunch (AZBEX, July 8; March 18; June 25, 2013, Nov. 6, 2014).
Grading for the project began in November and is about 95 percent complete, he said. Construction of the PhoenixMart building could start soon after grading is complete.
One holdup on the project, Welch said, was approval of the federal paperwork for each of the project’s 300 foreign investors.
PhoenixMart is a $150M project funded primarily by EB-5 visa applicants. The EB-5 program allows foreign investors a fast track to a green card if they invest in federally approved programs, like PhoenixMart, that create or preserve American jobs.
PhoenixMart is a master-planned community also known as the North American Logistics, Trade & E-Commerce City. Developers plan to build it on a 585-acre site on Florence Boulevard, east of Overfield Road. Its centerpiece is to be the 1.5-million-square-foot PhoenixMart sourcing center, to include showroom space for as many as 1,700 tenants.
Building of the sourcing center is the first phase of the construction. Other facilities, including housing, warehouses, restaurants and other amenities will be built later, probably in 2019 or 2020, Welch told the group.
The PhoenixMart developer, AZ Sourcing, also owns the former outlet mall now called CityGate. The company plans to renovate the mall and open a welcome center. Also, it owns 34 acres behind CityGate and hopes to build a hotel, gas station and shops.
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