In spite of a year-long recession, major budget cuts and layoffs at municipalities, a few developments are coming to fruition. South Shore, a mixed-use project was recently approved by the Chandler City Council, a slowly growing trend for the suburb. Scottsdale-based Nautica Development Group is excited to bring what many are calling Chandlers own “Kierland Commons.” The development could consist of up to 120 townhomes, offices, retail, restaurants and a five-story Indigo Hotel on a 43-acre site that sits on the east side of Arizona Ave between Ocotillo and Chandler Heights Blvd.
The developers and planners envision this project as the next great urban-living experience for Chandler. In addition to the mix of town home residences, offices and retail, the complex will feature a 1.6-acre lake as the centerpiece, fire pits, artwork, fountains, lush-landscaping and a venue for concerts. Getting city approval is the first hurdle, which in today’s market, is the easiest. Finding funding for this project in the near future will be tough, but the developers are confident that they will have enough money to start the project in early 2010, with the first phase completed in mid-2011. During the boom, getting a $150 million was not nearly as hard as getting the city to approve the project, which has quickly shifted since banks stopped lending.
