Author: BEX Staff

ProEquity Asset Management Corp. has asked the City of Chandler to approve a development plan that would replace a long-vacant Fry’s location at Alma School and Warner Roads with a residential mixed-use development. Most the existing buildings would be demolished under the proposal. A bank, fast-food restaurant and a Walmart currently on the site would stay. The plan for Sun Village Center would feature 371 apartments, a full-service restaurant, a fast-food restaurant and additional retail. The residential component would consist of 10 buildings of between two and four stories. Planned amenities include a clubhouse, pool and barbeque space. The developer…

The City of Phoenix has approved a development agreement with Concord Willshire Capital LLC for part of the redevelopment of Metrocenter Mall. The roughly $1B redevelopment effort will be undertaken by Concord and TLG Investment Partners, working in association with Hines. Under the agreement, Concord will pay for and construct up to nine parking garages with nearly 5,800 spaces. Phoenix will reimburse the company using general fund tax revenues and acquire the garages once built. The total amount is expected to be $68.7M over 25 years. Non-general fund tax revenues to the City are projected at approximately $90M over 25…

By Fairmont Hotels & Resorts Fairmont Hotels & Resorts – part of hospitality group Accor – together with Thunderbird Legacy Development, announced the signing of definitive agreements for the development and management of a new Fairmont Hotel and Residences in downtown Phoenix. Scheduled to open in early 2025, Fairmont Phoenix will offer a luxury hotel and residential experience unlike anything in the downtown market and will join a portfolio of iconic luxury hotels in North America. Fairmont Phoenix will be located in downtown Phoenix at the southern end of the Central Business District, near the Phoenix Convention Center, the sports…

By Arizona Department of Transportation A virtual public meeting has been scheduled on Wednesday, June 8th, to provide information about a future project to widen Loop 202 Santan Freeway in the southeast Valley. The Arizona Department of Transportation and partnering agencies will host the virtual meeting about the planned Loop 202 project in the Chandler and Gilbert areas. The project is currently scheduled to start construction in 2024 as part of the Maricopa Association of Governments’ Regional Transportation Plan. It will add two new lanes in each direction along Loop 202 between Loop 101 (Price Freeway) and Gilbert Road as…

Awards & Accolades 1. The AZ Water Association has chosen the North Avondale Water Supply Project executed by Carollo Engineers Inc. as its Project of the Year. Groundbreakings 2. The City of Surprise has begun work on the Countryside Park youth sports facility. At completion, the project will include eight multiuse sports fields and amenities. 3. The Bell Group’s Storage at McDowell, a 90.7KSF four-level storage facility next to Papago Plaza, has begun construction. Progress Reports 4. Mattel Inc and Epic Resort Destinations LLC have announced the Mattel Adventure Park at VAI Resort in Glendale will feature attractions related to…

Union Station, the historic train depot on West Harrison Street in downtown Phoenix, could soon be home to a mixed-use redevelopment that will include a boutique hotel, apartment/condo tower, office space and movie production studio. Aaron Klusman heads the Rivulet Media Inc. production company and bought the 30.3KSF building from Spring Communications LP for $4M. Rivulet Media will move its company headquarters into the renovated facility when finished. The 7.34-acre site is located in an Opportunity Zone and includes other structures and two telecommunications towers. The unit count and space allocations have not been finalized yet, and estimated development costs…

The Buckeye Planning and Zoning Commission has voted to recommend the 211-unit BTR Verrado build-to-rent site plan for approval by City Council. The development is planned for 17 acres at the SEC of Verrado Way and Indian School Road. Nearby residents addressed the P&Z meeting to voice concerns about traffic, density, infrastructure impacts and other issues. City traffic engineering staff reported a widening project on Indian School Road should provide sufficient capacity to reduce current congestion and meet future demands. Project representatives told the meeting the planned density of 12.19 units per acre is far less than the maximum of…

Looking to capitalize on pent-up pandemic demand and highlight the Phoenix Convention Center in association with other downtown amenities, the Phoenix Economic Development and Equity Subcommittee last week discussed the possibility of establishing a downtown entertainment district. Staff drew inspiration from existing areas like the Gaslamp Quarter in San Diego, Sixth Street in Austin and Honky Tonk Highway in Nashville. The original discussions began in early 2020 with a sports and leisure study by the Phoenix Convention Center, which found most convention centers do not have a tie-in with area nightlife and events that make them part of a cross-marketable…

Two new industrial buildings totaling more than 500KSF of space are planned for the Skybridge Arizona master-planned development owned by the Phoenix-Mesa Gateway Airport Authority. The site is located on 28 acres near Sossaman and Pecos Roads. According to the submittal by ADM Group Inc., the project consists of two 44-foot, single-story industrial shell buildings. The narrative says the group use warehouse space will eventually be divided into three tenant spaces. Planning requirements call for a minimum of 640 parking spaces, and the plan proposes 670. The proposal was discussed at the May 10th Mesa Design Review Board meeting and…

In its most recent newsletter, the American Council of Engineering Companies of Arizona gave a status update for Department of Energy projects under the Bipartisan Infrastructure Law/Infrastructure Investment Jobs Act. ACECA reports only 11% of the $62B in DoE spending under IIJA energy funds will be distributed under state formula programs and that DoE funds are usually distributed more slowly than transportation and water project funding. DoE is expected to expand existing programs and develop 60 new ones in the next five years. It will have to issue RFIs, develop and publish project strategies and follow up with funding announcements…