Tempe Marketplace

Vestar Development is poised to break ground on the on what will be Arizona's largest private construction project. The $200 million, 1.3 million-sq.-ft. power/lifestyle/entertainment center will be called Tempe Marketplace and is located on Rio Salado Boulevard in Tempe.

In late June, the Tempe City Council unanimously voted to rezone the site at the southwest corner of the Loop 101 Freeway and Loop 202 Freeway. It is the third busiest intersection in Arizona. The council had previously approved a development agreement for the project.

Tempe Marketplace will mean some 2,000 construction jobs in 2005 and a projected 4,500 permanent jobs after it opens in Spring 2006.

Marked by outdoor fireplaces, raised dining patios, water features, mist systems and extensive landscaping Tempe Markeplace will also incorporate light and laser elements to further animate the experience at the project.
HTH Group LLP of Beverly Hills is the design architect for the project. Phoenix-based Butler Design Group is the executive architect.

Vestar also recently won overwhelming voter approval for the 800,000-sq.-ft. Lake Pleasant Towne Center in northern Peoria.

LGE Design Build Announces 14 New Projects

LGE Design Build recently announced that it signed 14 new projects in September and October valued at a total of $49.1 million. The projects in Scottsdale, Mesa, Chandler, Tempe, Surprise and Gilbert total more than 534,000 sq. ft. and include facilities in the office, showroom, retail, automotive and warehouse segments.

The 14 new projects bring LGE's 2004 totals to new record highs. LGE has now signed 57 deals in 2004 covering a total of 1.8 million sq. ft., with a combined value of $150 million. The September and October period also represented the strongest back-to-back months in the company's history.

The new projects signed by LGE include the 83rd & Hayden Development in Scottsdale, a 65,000-sq.-ft. showroom valued at $10.1 million; The Offices at Bell & Tatum in Phoenix, a $7.7 million office complex covering 104,000 sq. ft.; Mesa's Grove Business Center, a $5.3 million, 73,000-sq.-ft. office complex; the $3.4 million, 76th & Montecristo office complex which will encompass 24,000 sq. ft.; and Baywood, a 41,000-sq.-ft. office complex in Mesa valued at $3.2 million.

Trillium at Union Hills

Trillium Residential, a developer and manager of multifamily communities, recently broke ground at its newest apartment community at 18416 N. Cave Creek Rd.

The new community will offer 201 units with one- and two-bedroom apartment options and 10 different floor plans ranging from 708 to 1,113 sq. ft. Trillium at Union Hills will also feature distinctive amenities including a two-story clubhouse. The clubhouse will be home not only to the leasing center, but also a sports-themed lounge area on the second floor which will showcase floor-to-ceiling glass overlooking the first floor. The lounge will include billiards and game tables, as well as flat-screen televisions. A fully-equipped fitness center will be located on the first floor.

Construction is estimated to be complete in the fall 2005, with pre-leasing and move-ins scheduled for spring 2006.

The Heritage Cottages

The Weitz Company recently announced that the company has been selected by the Ryerson Company to build its newest senior living project, The Heritage Cottages.

The project will consist of 17 duplex buildings and one single building comprised of 35 senior, independent living units. DPA Architects Inc. will serve as the architect on the new project. The 5.11 acre site for The Heritage Cottages lies adjacent to The Heritage Legacy, a 45,000 sq. ft. senior living community that Weitz built for Ryerson and the Heritage Tradition. Final construction is scheduled for spring of 2006.

Hewson Dover Business Center

The Hewson Company has purchased 15 acres at the northwest corner of Greenfield Road and Presidio for the development of Hewson Dover Business Center within Dover Industrial Park.

The project will contain five multi-tenant buildings. The first phase of development includes three buildings, two office and one industrial. Building A will be a single-story, 11,165-sq.-ft. office building. Building B will contain 15,355 sq, ft. of office space. Building E will be the third of Phase I and is scheduled to contain 85,211 sq. ft. of industrial/warehouse space.

Construction of Phase I is scheduled to start this month with occupancy planned for Spring/Summer 2005.

The first three buildings of the project are designed by Will Architects, Ltd. of Phoenix. Construction will be handled by Valley-based Bjerk Builders, Inc. Stein Koss and Marc Pierce of Lee & Associates, Arizona, serve as exclusive leasing agents for the project. Tyler Atwood of The Hewson Company will serve as project manager.

Deer Valley Airport Project