A lack of market demand has led to a reduction in the amount of office space proposed for Goodyear Celebration Plaza, a 70-acre mixed-use master plan near I-10 and Litchfield Road in Goodyear.
In a presentation to the Goodyear Planning and Zoning Commission on behalf of owner ICIC Property Investment 5 LLC, attorney Jeff Blilie of Bues Gilbert McGroder explained an economic analysis of the proposal by consulting firm Elliott D. Pollack & Co. determined the planned office space far exceeded the regional demand.
The master plan calls for office, residential and retail uses. The developer is asking for an extension of one 15-acre parcel’s hybrid office and residential designation from 18 months to 24 to drum up interest in office space while maintaining the flexibility to develop multifamily if those efforts prove unsuccessful.
The parcel in question was originally planned for two 54KSF medical office buildings and another 140KSF, three-story office building. The medical office space was intended to support the City of Hope cancer treatment center near the development. City of Hope expressed support for the plan change, noting the delivery of affordable multifamily housing in the area would benefit hospital staff.
Planning and Zoning recommended the change, which will now go to Goodyear City Council for approval. (Source)
