News Summary
Phoenix is set for a significant commercial expansion as discussions with Minnesotan developer Mortenson unfold regarding a new project on a desert site. Originally intended for a hockey arena, the 217.16-acre property now plans to include five million square feet of commercial space, starting with a 30-acre mixed-use office campus. The development’s future will be discussed at an upcoming city council meeting, focusing on its economic benefits and job creation amidst Phoenix’s growth.
Phoenix is poised for significant commercial development as the city engages in discussions with Minnesota-based developer Mortenson regarding a major project on a newly acquired desert site. The site, which was previously earmarked for a Phoenix Coyotes hockey arena, is situated west of North Scottsdale Road and north of Loop 101.
In June, Mortenson acquired the 217.16-acre property during an Arizona State Trust land auction, paying $136 million. The developer has ambitious plans, outlined in a proposed development agreement with the city, which includes the construction of a total of five million square feet of commercial space.
The first phase of this extensive development will feature a 30-acre mixed-use speculative office campus. This initial phase signals Mortenson’s commitment to creating a flexible office space that can meet the growing demand for commercial properties in the region.
City Council Involvement
The Phoenix City Council is set to discuss this ambitious development agenda on August 27. The outcomes of these discussions will play a significant role in determining the future of the project and how it aligns with the city’s growth plans. City officials are focused on the potential economic benefits and job creation that can arise from such a large-scale development.
Economic Implications
The planned commercial space is expected to attract various businesses, which will contribute to the local economy and enhance the commercial landscape of Phoenix’s North Valley. As the city continues to grow, creating jobs and providing opportunities for both established and emerging businesses is increasingly important. The employment and economic boost from this project could be a vital aspect of Phoenix’s recovery and growth efforts in the aftermath of the economic impacts of the COVID-19 pandemic.
Background on the Development Site
The site owned by Mortenson was once considered for a sports arena but has now shifted focus towards commercial space. Developers have generally viewed Phoenix’s North Valley as a desirable area for investment, due in large part to its expanding population and infrastructure improvements. This element of growth positions the area as a prime candidate for new commercial ventures.
The transition from sports arena plans to commercial development reflects broader trends in urban development, where there is often a high demand for office space and business facilities that can accommodate various types of enterprises. Mortenson’s strategic approach to this property aims to align with these trends by providing versatile space in a growing market.
Future Prospects
Looking ahead, Mortenson’s project could serve as a blueprint for future developments in the Valley, emphasizing the importance of adaptability and strategic planning in urban development. As discussions continue within the city council, stakeholders remain optimistic about the project’s potential to reshape the economic landscape of the region.
With various phases of development on the horizon, all eyes will be on the August 27 meeting where city officials will assess the project’s details. This meeting may very well set the course for Phoenix’s North Valley and its commercial growth for years to come.
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Additional Resources
- ABC15: Phoenix Pursues Deal with Mortenson
- Wikipedia: Phoenix, Arizona
- AZ Big Media: 50 Commercial Real Estate Projects
- Google Search: Phoenix commercial development
- Ahwatukee: Future Urban Renewal in Phoenix
- Encyclopedia Britannica: Arizona
- AZ Central: 40-Acre Commercial Project Near Mesa Gateway
- Google News: Phoenix commercial projects
Author: STAFF HERE PHOENIX WRITER
PHOENIX STAFF WRITER The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
