Huge retail center could boost Carefree’s economy, overcoming hurdle with tax incentives

Article originally posted on Phoenix Business Journal on June 19, 2025

A town with a population of less than 4,000 is on the precipice of bringing its largest commercial project to fruition. But what Carefree lacks in population, it makes up for in disposable income.

Under a plan nearly eight years and two developers in the making, a nearly 120,000-square-foot, $40 million project called Carefree Quarter is expected to transform a vacant 24.7-acre site into a bustling retail center. Carefree relies heavily on sales tax revenue — 63% of its revenue is derived from that source.

“Our town moves on sales tax revenues. … And so this project will see us forward with a new revenue stream of sales tax,” Carefree Mayor John Crane said. “This is the largest one project we’ve ever had [and] probably will ever have.”

Carefree Quarter is a joint venture between a pair of Scottsdale-based commercial real estate firms, Empire Group of Companies and Diversified Partners. The pair will look to turn a site originally zoned for low-density residential into a commercial center with a mix of sit-down restaurants, big-box stores and in-line shopping.

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