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RED Development’s Aspen Place at The Sawmill to Add REI, Luxury Apartments, More Retail Space

By Peter Madrid for Arizona Commercial Real Estate Magazine

rsz_aspen_place_view_03RED Development announced that its Flagstaff mixed-use project, Aspen Place at the Sawmill, will add an REI store and launch phase two with 30K additional SF of retail space and 222 luxury apartments.

The new REI is expected to open in spring 2014, when construction also is set to begin on phase-two additions.

The outdoor gear and clothing leader REI will utilize 24KSF in a separate building at Aspen Place to serve the needs of outdoor adventurers through innovative, quality products, classes and knowledgeable customer service.

RED Development also announced that Alliance Bank will join the property with a 6KSF full service banking office set to open in Summer 2014.

A major part of the phase-two build-out is new luxury apartments to be built above and adjacent to the new 30KSF of retail. The apartments will be developed and built by Kansas City-based developers, ePartment Communities, LLC.

Apartments are expected to be available starting in spring 2015.

Aspen Place at the Sawmill Aspen Place currently features 68K SF of retail and restaurants and ultimately will include a total of 135K SF when all phases are fully built.

Read more at AZRE