Author: BEX Staff

Plans were announced last week for a 168-room Reverb by Hard Rock hotel to join the $100M, 26-acre entertainment and hospitality development The Sydney on the Salt River Pima-Maricopa Indian Community. Palmer Development Group held a groundbreaking for The Sydney last week. The hotel component is expected to start construction in eight to 12 months. Other tenants already on board for The Sydney include Pickle & Social—a restaurant and event space—and Goodsurf—a recreation facility with an on-site surf pool with food, drinks and live music. (Source)

Following a name change, the opposition group Central Arizonans for a Sustainable Economy has apparently also undergone a change of heart and dropped its lawsuit against the South Pier at Tempe Town Lake development. The project is a $1.8B master-planned community with luxury apartments, retail, restaurant and entertainment destinations planned for 12 acres on Vista Del Lago Drive. CASE, now known as “Worker Power,” had filed a lawsuit after the City of Tempe rejected the group’s attempts to place the project on the ballot as a referendum. CASE objected to the lack of on-site affordable housing and the project’s property…

By Roland Murphy for AZBEX A proposal from Fairfield Residential may soon bring 390 more apartment units to a 4.6-acre site at the NEC of Rockford Drive and Cameron Way in Tempe. Located in the 2100 Rio Salado Business Park, the site is west of the intersection of the Loop 101 and Loop 202 freeways off Price Road. The location is currently zoned General Industrial and has a Mixed-Use designation under the City of Tempe 2040 General Plan. It is noted as High Density on the General Plan’s projected density map, with a maximum of up to 65 dwelling units/acre.…

The Buckeye City Council approved a site subdivision for Tartesso West High School and rezoning for an 847-unit Build-to-Rent and multifamily development. Tartesso West High School The new high school is planned at the SWC of Thomas Road and 303rd Avenue in the Tartesso West master-planned community, which is bounded by Glendale Avenue, McDowell Road, Sun Valley Parkway and 323rd Avenue. HILGARTWILSON LLC requested the site subdivision, which dedicates land for the project. Among other items, the changes included in the proposal consist of: Extending the Thomas Road right of way, Realigning a portion of Celeborn Drive, Abandoning Encanto Drive…

By Roland Murphy for AZBEX Stonelake Capital Partners wants to build a four-building, 514.9KSF industrial development on a 38.9-gross-acre site on the NEC of Pecos and Sossaman roads in Mesa. The Mesa Design Review Board will examine the proposal this week. Stonelake is requesting a design review for the elevations and landscaping and has submitted an alternate compliance request for the materials, parapet and foundation. The largest building in the development will be 245.7KSF. The next will be 107KSF. The remaining buildings are planned for 81KSF each. Maximum building heights will not be taller than 50 feet. The Stonelake Industrial…

Following a name change, the opposition group Central Arizonans for a Sustainable Economy has apparently also undergone a change of heart and dropped its lawsuit against the South Pier at Tempe Town Lake development. The project is a $1.8B master-planned community with luxury apartments, retail, restaurant and entertainment destinations planned for 12 acres on Vista Del Lago Drive. CASE, now known as “Worker Power,” had filed a lawsuit after the City of Tempe rejected the group’s attempts to place the project on the ballot as a referendum. CASE objected to the lack of on-site affordable housing and the project’s property…

Giving Back 1. Three Salt River Project employees and one retiree have been named 2023 SRP Presidents’ Volunteer Spirit Award recipients for their exemplary dedication to helping people and nonprofit organizations through their volunteer efforts. SRP Meter Engineering employee Denisse Delos Santos won for her work with Asian Corporate & Entrepreneur Leaders. SRP Supplier Diversity Program Manager Erika Castro was given the Karl F. Abel Award for her work with Chandler Cultural Foundation/Chandler Center for the Arts. SRP Revenue Protection Specialist Nancy Brooks was honored for her work with Helping Hands for Homeless Hounds, and SRP retiree Kim Higgins won…

Sales Transactions 1. CRG announced the $82.6M sale of Building E at The Cubes at Glendale – a 570KSF industrial warehouse located along the 303 Corridor in Glendale – to Fundrise. Cushman & Wakefield’s Will Strong, Phil Haenel, Micki Strain, Kirk Kuller and Molly Hunt of the firm’s National Industrial Advisory Group – Mountain West team represented CRG. Additionally, C&W’s Equity, Debt & Structured Finance team of Rob Rubano, Brian Share, Max Schafer and Becca Tse represented Fundrise in the procurement of $58M in acquisition financing. 2. Cushman & Wakefield announced it has advised the $38.2M sale of a 249.9KSF…

By Roland Murphy for AZBEX  Developer Chicanos Por La Causa presented its plan for a 176-unit affordable housing apartment development to the Casa Grande City Council in an April 3 study session. According to the PowerPoint presentation accompanying the session, the plan arose from a Request for Information issued by Casa Grande in August 2019. CPLC submitted its response in March 2020, and the rezoning was approved in February 2022. The timeline lists agreement negotiations as “in process.” The first phase of CPLC’s plan covers a total of five parcels totaling slightly more than six acres: Parcel 1: 315 W.…

By City of Phoenix and BEX Staff for AZBEX The City of Phoenix has taken a significant stride in the investment of its west side community. In hopes of partnering with community members to revitalize the area, along with the redevelopment of Metro Center and nearby health care facilities, the City of Phoenix purchased the former Kmart building located at the NWC of I-17 and Northern Avenue. Plans are underway for renovations of the site to transform it into a much needed, state-of-the-art workforce training and education facility, appropriately named the Innovation 27 Workforce Training and Education Collaborative. The City,…