The Phoenix City Council will vote this week on a development agreement and infrastructure reimbursement package for Chevelle Properties LLC. The proposed project would create a 32-acre office campus and 300KSF facility near the SWC of Tatum and Mayo boulevards.
The Arizona State Land Department currently owns the site and has scheduled a public auction for Dec. 27. Minimum bid is $29.425M.
The project will be developed by Chevelle Properties LLC and is referred to under the codename “Project Christmas” in City documents. Phase I of the development is expected to be a roughly $198M investment that will retain or create 1,100 jobs.
The City of Phoenix report on the development agreement proposal refers to the project as “one of the first large-scale office employment announcements since the pandemic.”
The package under consideration would reimburse Chevelle Properties for up to $5M in infrastructure improvements, including improvements to the street frontage and intersections, extensions to the water and sewer main, and traffic and floodplain improvements.
The agreement will have a 10-year lifespan following the project’s completion and the City’s acceptance of the improvements. (Source)
