Glendale/West Valley Development Thread

[ljbuild]

CRYSTAL LAGOONS
Is a new waterpark being built south of STATE FARM STADIUM in Glendale.
It is supposed to open sometime NEXT YEAR.
(hopefully before summer).
Up until now, the entire west valley , HAD NO WATERPARKS !

while the EAST valley HAS 3 WITHIN A 15 MILE RADIUS.

But being next to the stadium , makes that area in Glendale a nice entertainment mecca.

[PHX31]

Originally Posted by ljbuild

CRYSTAL LAGOONS
Is a new waterpark being built south of STATE FARM STADIUM in Glendale.
It is supposed to open sometime NEXT YEAR.
(hopefully before summer).
Up until now, the entire west valley , HAD NO WATERPARKS !

while the EAST valley HAS 3 WITHIN A 15 MILE RADIUS.

But being next to the stadium , makes that area in Glendale a nice entertainment mecca.

There's a water park at 43rd Ave & Pinnacle Peak. Has been there for 30+ years and is now under the Six Flags banner. This is more "north valley" than "west valley" in the traditional sense, but still..

[azsunsurfer]

The East Valley has two more in the pipeline...The Surf City development is in full construction and the Gilbert just approved a smaller park for its Crossroads Park redevelopment...also I think the Gilbert Regional Park has plans for a water park in its next phase.

[xymox]

Large mixed use development planned for near Cardinals Stadium - 600k sqft office space, residential and multiple hotels.

https://www.abc15.com/news/business/...dinals-stadium

[combusean]

600,000 sqft of spec office at Westgate is about the most peak boom thing I can remember over the last six years. I can't believe there's demand for that.

[xymox]

Originally Posted by combusean

600,000 sqft of spec office at Westgate is about the most peak boom thing I can remember over the last six years. I can't believe there's demand for that.

There’s a ton of growth on the west side now. Lots of data center/e-commerce and TSMC. Will that equate to office demand at Westgate? Well Amazon is already there (as Ring). And a few other companies. Probably a safe bet that if they build it they can snag another company looking to leave or expand out of CA in the new few years.

Also - IIRC - they had this area FAA approved for 400ft. I don’t think 600k ft of office quite makes it a 400ft building - but wonder what this will ultimately look like.

[combusean]

CBRE doesn't think that submarket has any class A space, which is obviously wrong with Westgate. Colliers lists 726,200 total square feet with a 14.4% vacancy. Glendale/the developer says there's 5% vacancy in the PBJ article. Pick your expert, I guess.

Plaza doesn't build towers, this is probably going to look very close to a more walkable version of SkySong without the shade elements which is another project they've developed over time as there is demand.

In researching the area they had a real tough time filling out the Westgate office they did build (converting a couple floors it seems) but who knows, maybe the area is ready. Easy to take a risk on someone else's land in any event.

[MMDelon]

600,000 sq/ft is incredible. I am shocked too by this news even more than the Crystal Lagoon announcement.

[xymox]

More stuff coming to Westgate. Of note is a big Tesla service center (with show room) and a Popstroke 36 hole putting center.

https://azbigmedia.com/lifestyle/exp...nts-to-lineup/

[Obadno]

Cool looking property not sure how it will work as multi family, Im surprised they aren't converting it to a hotel.




https://azbigmedia.com/real-estate/b...o-residential/

Zanjero Falls, a three-story, grey shell building, originally developed to be medical/office condominiums has sold for $10 million. The vacant property was purchased by a local investor and will be converted into a market competitive multi-family community, further enhancing the Westgate Entertainment District in Glendale, AZ.

Zanjero Falls was built in 2008 in the heart of Glendale’s shopping and entertainment district. The property was originally built to provide high-end medical/office condominium units for lease or purchase to small business owner/users. Unfortunately the property was completed as the Great Recession hit in 2008 / 2009. Since then, the propery has been through a series of different owners, including loan defaults and bankruptcies. As a result, the interior of the property was never built out and sat idle for more than 10 years. Located at 7410 N. Zanjero Blvd., the 7.5-acre campus contains three buildings with an underground parking facility totaling 231,272 square feet. The property also offers healing gardens, water features and a large pond with bridge at the main entrance.

READ ALSO: Westgate Entertainment District adds 8 new tenants to lineup

Tim Dulany and Alexandra Loye of Colliers in Arizona represented the seller, SZ Real Co, LLC, an Arizona limited liability company headed by a San Francisco-based investor. Nirvana at Zanjero, LLC, an Arizona limited liability company purchased the property and was represented by Sharat (Shuan) Kanaka of Paradise Valley, Arizona.

“The seller of this property hired Colliers to bring a new, creative approach to marketing the asset for sale along with a robust national platform to market the property locally and nationally to a large buyer pool. The property had been marketed several times in the past with other smaller brokerage firms that were unable to find an appropriate buyer for senior housing uses,” says Tim Dulany of Colliers in Arizona. “We knew this beautiful development had great potential and identified quickly what were the highest and best uses for the property and who were the likely buyers within those specialty property types. Boldly, we set the price more than a $1.0 million dollars higher than any prior offer that was made to the sellers for the asset. Utilizing our experience and connections in the marketplace, we were able to secure multiple offers within two weeks of launching our marketing efforts, which led to a multiple competitive offers from buyers that resulted in an above-asking sale price along with an expedited close. This marks one of the best strategic marketing and success stories for our team during 2021, accomplished in the midst of COVID-19 and a challenging political/economic climate.”

Loye comments, “We have tracked this asset for many years and are excited to finally see it come to life. The Westgate Entertainment District has serious momentum with several new development projets in the works and we are happy to be a part of this movement.”

Zanjero Falls features a Spanish Colonial architectural style with balconies, arches and towers. The property is adjacent to the new Desert Diamond Casino, Phoenix Coyote hockey arena, AZ Cardinals’ State Farm stadium and Westgate City Center. The buyer is working on design / architectural plans and city approvals to build approximately 300+ units of 1 Br, 2 Br, and 3 Br apartments. Estimated completion date for the first phase of construction (which is to build out the existing shell building) is fourth quarter 2022 and second phase (to build new detached buildings) by spring/summer 2023.

[xymox]

Originally Posted by Obadno

Cool looking property not sure how it will work as multi family, Im surprised they aren't converting it to a hotel.




https://azbigmedia.com/real-estate/b...o-residential/

Oh wow - had no idea that was never finished. I always figured it had been. IIRC - there was a second phase that was supposed to be high end shopping - a rumored Apple Store and other high end brands were supposed to go there.

[ASU Diablo]

This project is nuts and still can't believe is going to be built way out in the boonies. But with the proposed I-11 route, I'm sure this area is poised to blow up.

https://www.bizjournals.com/phoenix/...las-ranch.html

Douglas Ranch -
https://www.howardhughes.com/properties/douglas-ranch

[Obadno]

I ff you want to see the broader land use

https://www.buckeyeaz.gov/home/showp...61163632600000

Go t page 55, Most of the Hassayampa valley is already slated.

Behold the birth of our own "Inland Empire". For all those wondering why bill gates bought tons of acres of land in Buckeye.

[Obadno]

And it appears Exurban development is back in all its glory

https://azbigmedia.com/real-estate/r...ii-in-tonopah/



https://goo.gl/maps/6HZZESMrgwZ1i2xp7

Vermaland, a leading Phoenix-based land banking and development company, is developing Verma Vistas III, an 1100-acre master plan community located in Tonopah, Ariz. Properties of this size are very difficult to come by, so this makes the parcel the largest piece of privately owned land in the area.

Vermaland acquired this parcel due to its strategic location and is located at 427th Avenue and Narramore Road. Mountain ranges three miles south of the property offer spectacular views. Other properties in the area that are 100 acres or more have been developed into solar farms by large energy companies. A number of one-acre residential lots can also be found in the area. Unfinished one-acre lots are in high demand in this part of Tonopah, with the average selling price being $50,000 per acre.

“During the pandemic, we saw an increase in housing demand, and with the shortage of affordable homes in the valley, we see a tremendous opportunity to develop in the area,” says Kuldip Verma, CEO of Vermaland. “There is a big shortage of finished lots, so we are getting ready for zone changes and pre-plat.”

The plans include 2,500 single-family homes, 500 multi-family units, and commercial and industrial complexes. Once the zoning is finished, Verma plans to either sell or partner with a builder to develop the community.

In addition to several Solar projects, Vermaland’s most recent residential project was a gated subdivision located in the foothills of the White Tank Mountains at Highway 303 and Northern Avenue. The 246 lot development was sold in late 2019.

Vermaland has been in the land business as a wholesale buyer and seller for 20 years, starting the company in 2001. The company owns thousands of acres of land in the Metro Phoenix area. Verma and his team have also donated $5 million in land and cash to the Vermaland Charity Foundation, to be used for residential and commercial development.

For more information on Vermaland, visit www.vermaland.com or call 602-274-0700.

I find it interesting they arent even going to attempt to sell this as close to anything. Its being marketed towards people that want to be out in the middle of nowhere, remote work, delivery through amazon primarily.

Im sure there is a market for this but... How big?

[Obadno]

https://azbex.com/is-williams-sonoma...l-development/

Home furnishing retail giant Williams-Sonoma Inc. has leased 1.2MSF at The Cubes at Glendale, according to a recent article in Phoenix Business Journal to multiple sources.

The article speculates, however, the company may have much larger plans.

Business Journal’s research shows that in February a company described as a Fortune 500 retailer with “a very recognizable name” was looking for 200-250 acres in Buckeye to develop a 3MSF light manufacturing and distribution space. The effort, codenamed “Project Jaguar,” was to be built in three phases lasting through August 2026.

While Buckeye’s public records did not identify the parties, the article cites its sources as saying the company is Williams-Sonoma and that it chose to relocate the project to Glendale rather than Buckeye.

Glendale refused to fulfill the Business Journal’s public records request and claimed the Arizona Commerce Authority had determined disclosing documents could harm the state’s chances to secure an economic development project.

According to the records received from Buckeye, the company wants to relocate manufacturing processes from Tennessee and California. Williams-Sonoma currently has manufacturing operations in 12 states, including the two named.

The article claims the company had looked at five sites in Arizona and also considered Salt Lake City and Reno. The 214 acres that were considered in Buckeye eventually went to KORE Power.

In addition to its retail stores, Williams-Sonoma has become a significant e-commerce business, according to its annual report, which claims the channel is its fastest-growing segment. (Source)

Major Retail Development:

https://azbex.com/major-outdoor-mall...d-for-prasada/

SimonCRE has announced it will build Village at Prasada, a 700KSF open-air shopping mall in Surprise.

The $500M development near Loop 303 and Waddell Road will feature major-brand retailers, restaurants and entertainment outlets.

Prasada is a 3,355-acre master-planned community. Development partners include RED Development, Macerich Development, WDP Partners and Suburban Land Reserve Inc.

Village at Prasada will have a 330KSF first phase, which had a ceremonial groundbreaking earlier this month and is targeted for completion in fall of next year, and a 250KSF second phase that will begin sometime in 2022. (Source)

[skiesthelimit]

Ended up on this side of town yesterday and grabbed some pics from the highway of the apartments and theme park construction.

[Obadno]

Originally Posted by skiesthelimit

Ended up on this side of town yesterday and grabbed some pics from the highway of the apartments and theme park construction.

That hotel will be the tallest building in the west valley right?

[xymox]

Originally Posted by Obadno

That hotel will be the tallest building in the west valley right?

Yeah, I think so. Was it 14 or 20 stories? Why didn't they use a tower crane for this site? Is there a shortage or is the mobile crane just more useful for the other items going up on the site?

[IndyAZ]

Just realized Crystal Lagoons has 2 Live Construction Cameras on their website.
https://www.crystallagoonsislandresort.com/live.php

[ASU Diablo]

Wow...didn't even realize it would the largest hotel in AZ in its current form. What is the current largest? JW Marriott Desert Ridge maybe? Renderings look amazing, gives me a Miami vibe. Plus looks like it won't be opening in time for the Super Bowl either.

https://www.bizjournals.com/phoenix/...-expanded.html

The planned resort formerly known as Crystal Lagoons is being rebranded and developed into what the city of Glendale said will be the largest hotel and entertainment destination in Arizona.

Now called VAI Resort, the entertainment destination will feature more than 1,200 luxury hotel suites and rooms, a 360-degree concert stage, 13 fine dining restaurants, white sand beaches and Caribbean-blue water.

A 52,000-square-foot island will be the center point for the 60-acre entertainment resort, which will also host top artists with more than 100 events annually, the city said in a statement released Tuesday.

The newly rebranded resort was initially planned to have 630 hotel rooms on 48 acres and was approved by Glendale City Council in 2020. It will be located on the east side of Loop 101 just south of State Farm Stadium in Glendale.

The resort is expected to open in late spring of 2023, which is later than the opening date of October 2022 the city expected for the original concept, Crystal Lagoons, when the city had targeted being open in time for the 2023 Super Bowl at State Farm Stadium. The project will include the Mattel Adventure Park and a tethered balloon to take guests 400 feet in the air.