Real estate developers are hard at work on a number of new development projects spanning several asset classes. Here’s a look at the upcoming commercial, mixed-use, and residential developments coming to Arizona.
North Scottsdale Industrial-Office Park Project
Mack Real Estate Group is awaiting approval from the city after filing plans for their new industrial and office park project, Mack Innovation Park, in north Scottsdale. During phase one, two buildings will be constructed, ranging from 45,000 to 129,000 sq. ft., and four buildings, totaling 572,000 sq. ft., will be added during phase two.
Mixed-Use Project on Tempe Town Lake
South Pier Tempe Holdings LLC, an entity of Washington state-based McBride-Cohen Management, has broken ground on phase one of a multibillion-dollar master-plan development on Tempe Town Lake. The first phase of development will produce three apartment towers, bringing 724 units and 26,000 square feet of retail space to the area. Construction of the towers will be completed on a staggered schedule over the next 42 months - an exciting addition to the area’s skyline!
Downtown Apartment Development
Chicago-based developer, The X Co., is beginning phase two of their $100M co-living development X Phoenix. Phase two will add 592 rooms and over 25 stories to the development. The X Co. estimates construction will be completed within the next two years, and once finished, the building will span an entire block downtown, providing new housing options for residents.