New to Market: 6 Projects You Need to Know

Article originally posted on AZ Big Media on November 29, 2017

Above: A view of Midtown Phoenix looking south towards Downtown Phoenix. (Photo by Mike Mertes)INDUSTRIAL | 7 hours ago | 

There are a lot of cranes operating in Arizona as developers pursue new projects that are creating a more diverse state. Here are six projects that were recently finished or broke ground in Arizona, as seen in the November/December issue of AZRE magazine.  

Element Hotel at SkySong

DEVELOPER: Jackson Shaw; Plaza Companies; University Realty, LLC; City of Scottsdale; Holualoa Companies

General Contractor: Layton Construction Company

Architect: Cooper Cary

Location: Scottsdale & McDowell roads, Scottsdale

Size: 99,103 SF; 153 rooms

Value: WND

START/COMPLETION: Q4 2017-Q2 2019

An Element hotel will occupy the southwestern corner of SkySong, The ASU Scottsdale Innovation Center complex, the latest addition to the 42-acre technology and innovation hub. As with everything at SkySong, a particular emphasis will be given to creating a healthy and sustainable environment. The hotel will have extensive green-building features, and guests will be able to enjoy an oversized gym on-site, rental bicycles and a natural saline swimming pool.

Park Central Mall Revitalization

DEVELOPER: Plaza Companies; Holualoa Companies

General Contractor: DPR Construction

Architect: richärd+bauer

Location: Central Avenue & Earll Road, Phoenix

Size: 337,000 SF

Brokerage: Plaza Companies

Value: $57M

START/COMPLETION: Q4 2017–Fall 2018

Plaza Companies and Holualoa Companies recently purchased a significant portion of Park Central Mall for about $57 million. The developers have plans to revitalize the landmark project, through new additions and a rebranding for the facility.

Epicenter

DEVELOPER: Johnston Properties; IPA/Liv Communities

General Contractor: Ryan Companies U.S., Inc.

Architect: Whitneybell Perry

Location: NWC of Ray & Higley roads, Gilbert

Size: 55,000 SF (retail); 287 units (multifamily)

Brokerage: Newmark Knight Frank

Value: $75M

START/COMPLETION: Fall 2017-2019

Johnston Properties envisions Epicenter drawing all of its tenants from across Arizona, including Flagstaff and Tucson. Some of the businesses will be operating for the first time or offering new concepts from existing shops. About half of the estimated 30 tenants will be food-based concepts.

Hub 317

DEVELOPER: Confluent Development; DPC Companies

GENERAL CONTRACTOR: Graycor Construction

ARCHITECT: Ware Malcomb

BROKERAGE: Lee & Associates

LOCATION: 317 S. 48th St., Phoenix

SIZE: 225,000 SF

VALUE: WND

START/COMPLETION: November 2017–Spring 2018

Located at 317 S. 48th St., directly adjacent to Sky Harbor International Airport, HUB 317 will be the newest building providing visibility and direct access to State Route 143, with immediate connectivity to the Phoenix metro area. The airport submarket is experiencing a wave of industrial development due to its central location and the high demand for industrial space in the market.

Great Hearts Academies North Phoenix Campus

DEVELOPER: Great Hearts Arizona

GENERAL CONTRACTOR: Adolfson & Peterson Construction

ARCHITECT: Studio Ma

BROKERAGE: Keyser Co.

LOCATION: 14100 N. 32nd St., Phoenix

SIZE: 93,418 SF

VALUE: $17M

START/COMPLETION: October 2016-August 2017

The new campus represents another step forward for Great Hearts Academies, expanding access for students to benefit from the organization’s mission of providing tuition-free public charter schools focused on a classical, liberal arts curriculum.

Portrait at Hance Park

DEVELOPER: Transwestern Development Company

General Contractor: MT Builders

Architect: Wilder Belshaw

Location: SWC of Third & Willetta streets, Phoenix

Size: 300,000 SF with 341 units (multifamily); 6,000 SF (retail); 138,000 SF (office)

VALUE: WND

START/COMPLETION: June 2017–Q3 2019

Located across the street from the 32-acre Hance Park in Downtown Phoenix, this project is bringing new residences and more to a portion of the downtown area that hasn’t seen a significant investment like this in years. The project includes a mix of everything, including retail, office and multifamily — perfect for those seeking a live, work, play lifestyle.

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