RED Development is promising more tenants by next summer to fill the vacant retail spaces at Aspen Place at the Sawmill, while the city is soliciting buyers for the residential half of the project, approved for 237 new housing units:
retail portion of Aspen Place at the Sawmill
(photo: Arizona Daily Sun)
New Developer Takes Over Sawmill Project
By Shardaesia Rhodes
NAZ Today
October 18, 2010
RED Development L.L.C. closed escrow today, taking ownership as well as financial responsibility for the Improvement District Bonds for the Sawmill project. The company is already securing letters of intent with possible tenants to join Pita Jungle and Wildflower Bread Company. Their intent is to have new stores open in the summer of 2011. RED will be responsible for making annual bond to protect the city of Flagstaff from possible future defaults. A list of their past and current projects can be found here.
The city of Flagstaff officially released its invitations to bid on Sawmill South today.
For more info.: http://www.flagstaff.az.gov/bids.aspx?bidID=521
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