Investment Development Management is proposing a 678-unit multifamily development on approximately 34 acres of a 160-acre site bounded by 99th Avenue, Thomas Road, Loop 101 and McDowell Road in the Maryvale area of west Phoenix.
Phoenix City Council is considering a development agreement to reimburse IDM for infrastructure improvements as an incentive for the project. Under the agreement, the City would reimburse the company up to $1M of the expected $2M cost to connect the site to Phoenix water lines.
City officials said the connection will provide service for multiple uses west of Loop 101, but there are no other development plans currently in the pipeline.
The site – known as Sheely Center – was approved for a planned unit development nearly 10 years ago and is still owned by The Sheely Family. Originally envisioned for urban mixed-use, the overall area has since become a focal point for residential development. Development on this particular site had been slowed by the cost of connecting to the water supply by passing under the freeway.
Officials have expressed hope IDM’s development of the Acero Sheely Center apartment community will activate the area and spur on additional projects. (Source)