Commercial Real Estate & Business News – September 29, 2014

South Mountain Loop 202 Extension Moves Closer to the Starting Line

The light at the end of the Loop 202 South Mountain Freeway administrative process shines over Nov. 25. That is the last day for comments on the Final Environmental Impact Statement for the freeway. It will mark the beginning steps of moving to the design-build-maintain bid solicitation process… Read more »

West Valley Leads Future Residential Growth; Poised for Commercial Development

The West Valley has some of the last available raw land in the region and at the rapid rate land is being acquired, lot inventory will be sparse by 2017, according to land broker Nate Nathan, president of Scottsdale-based Nathan & Associates. Mr. Nathan spoke at a northwest real estate market event recently at the Vistancia master plan in a TW Lewis by David Weekley Homes model located in Blackstone at Vistancia… Read more »

Will Blue Sky Apartment Complex Ever Rise in Downtown Scottsdale?

Gray Development Group?s Blue Sky apartment complex has yet to come out of the ground since it was approved by the City Council in April 2011. The project?s density and height were major points of contention at the time. It would have more than 700 units in three 13-story buildings with underground parking on 4.3 acres… Read more »

Investor Purchases Gilbert Site Targeted For Mixed-Use Business Park

Galahad LLC in Phoenix paid just under $13.746 million ($3.50 per foot) to acquire a prime site along the 202 Loop in Gilbert that could eventually be developed as a business park of up to 1 million sq. ft. The 90.16-acre parcel, which is now being farmed for alfalfa, is located at the southeast corner of the 202 Loop (Santan Freeway) and Lindsay Road. The seller was The Lamoreaux Family LLC and related trusts… Read more »

64-Bed Assisted Living Community Proposed for North Scottsdale

The coo of Gambel?s quail and the knock-knocking of Gila Woodpeckers may soon be joined by the laughter of grandchildren and the whir of personal scooters amid the Prickly Pear and cacti of far North Scottsdale. A Denver-based developer would build a 64-bed senior living facility on five acres of pristine desert set amongst the golf courses and mountain vistas near Scottsdale and Lone Mountain roads, pending approval of a preliminary site plan filed with the City of Scottsdale Development Review Board Sept. 8. Spectrum Retirement Communities LLC, which already operates facilities in Phoenix, Chandler and Peoria, has engaged St. Louis-based Vessel Architecture & Design, Inc. for the project, which would create what the application describes as ?a unique senior assisted residential facility nestled in the upper Sonoran Desert?… Read more »