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Friday, May 12, 2006

New Arizona Developments - Northeast Phoenix

CityNorth is a $1 billion mixed-use development planned for northeast Phoenix, east of Desert Ridge Marketplace.  It is composed of 5-million square feet of development featuring retail, office and luxury residential space on 144 acres.  The first phase will have more than 2 million square feet.  At the southern edge of the development, next to Loop 101, will be the signature building with several floors.  Initial site work is set for July.  Groundbreaking is scheduled for October, with the first phase of retail opening in late 2007.

CityNorth may set a new standard in the Southwest if it is built as designed, with luxury condominiums over retailers, offices and several high-end department stores.  A five-star, 250-room hotel is planned at the east end of CityNorth, at 56th Street and the 101.  The hotel will be connected to a luxury department store and topped by four levels of luxury residential condominiums. 

CityNorth’s west end will have a four-star, 300-room business hotel with an 80,000 square-foot health club.  The health club opens in late 2007, with the hotel opening in Spring 2008.

Palisene is a 2,200 acre master-planned community northwest of Scottsdale Road and Loop 101.  The Stacked 40’s proposal across Scottsdale Road from Palisene is an upscale retail center that the Wolff Cos. and Vanguard City Home is planning on 29 acres across Scottsdale Road from Kierland Commons.

These four projects represent about 4 million square feet of retail space.

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Aaron Freeman of Realty Executives Scottsdale Ranch  Contributed By: Aaron Freeman
Realty Executives Scottsdale Ranch
10301 N. 92nd Street, Suite 101
Scottsdale, AZ  85258
Mobile: (480) 323-8152
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Please call or e-mail me if you or someone you know is thinking of buying or selling a home, or if you would like to know the range of value of your property, I’d be happy to service your real estate needs.

Posted by Aaron Freeman on May 12, 2006 | Permalink


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