Currently Phase 1 is scheduled to be completed in Fall 2010. At this point it is our guess that the developer will elect to build 150 residential apartments in Phase 1, rather than condominiums (the property is zoned to allow either one) given the state of the real estate market today.

Ultimately, the plans call for a total of 850 residential units. We at WKU are hopeful that a majority of those are AFFORDABLE mid to high rise condominiums.

Trammel Crow is auctioning off 32 two bedroom brand new two bedroom condominiums ranging from 1,439 to 1,716 square feet at a starting price of $195,000. At one point these same condos were priced up to $485,000.

There are 3 three bedroom condos for sale with an opening bid of $265,000. They had previously been priced at up to $552,500.

At about $135 per square foot these may be a very good buy. To learn more give us a call at (602) 476-1881.

cbd 101 is the seventy seven acre mixed use owned by the Bidwell Family (which paid $55 million for the site when they bought it from Michael Dell, the Dell Computers guy) located south of Bethany Home Road and running along the 101.

The Will Bruder designed project will include 850 residential mid-rise condominiums, brownstones, townhomes, and also live/work condos built into one of the parking structures (all within a nine acre section of the development), an organic farm similar to The Farm at South Mountain (with small restaurants and a farmers market), and a 400 foot/40 story high rise housing residential condominiums, offices and a hotel.

Phase I of cbd 101 should openlate 2010 including a 10 acre organic farm, a hotel, an office building, and residential condominiums.

The Majestic will have an art deco flavor with condos starting at $400,000 and going to about $2 million. Construction should begin Q3 of 2008.

The Majestic, a 180-unit mid-rise condominium project is nestled right in the heart of the retail and entertainment portion of Westgate City Center. The condos will feature high-end appliances, optional movable walls that allow you to reshape your floorplan, a spectacular rooftop pool and almost every amenity possible at your doorstep. Prices for these fresh units are starting in the $400,000’s up to $2 million. I have not had time to make it their new sales gallery, but will soon update you with more info.

Westgate is the first major project to open on the Loop 101 Corridor in the West Valley. While the University Of Phoenix Stadium acted largely as a catalyst for this grandiose development, other big projects are soon to come, making way to yet another urban core for the Phoenix Metro area. Some of the projects include:

• Bella Villagio – Half-mile frontage on the west side of Loop 101 and south of Bethany Home Rd., could be a mixed-use development with two residential towers, high-end retail, office and an upscale hotel.
• Main Street Glendale – Located directly across the Loop 101 to the west will include around 500 acres of resort, golf course blended with premier high-density residential, retail, office and entertainment
• CBD 101 / Organic 101 – 77 acre site directly south of the football stadium on the east side of Loop 101, has initial plans for a 36-story tower, organic farm, public market, residential, retail, hotels, entertainment and community spaces.
• Districts at Zanjero – North of Westgate and Glendale Ave, a 51-acre mixed-use development with two high-end hotels, retail, restaurants, offices, residential lofts and mid-rise residential towers.

Several other massive projects will run down the Loop 101 corridor as well, but wont include residential, such as the 1,000 acre master planned business and commerce park, Algodon Center, Glendale Corporate Center and Cornerstone at Camelback.

Main Street is proposed as a 166-acre project west of the Loop 101, stretching from Glendale Avenue to Bethany Home Road.

Like Desert Ridge in north Phoenix, it is envisioned as a mix of retail, residential and restaurants, bolstered by a resort and golf course that would snake from West Glendale’s stadium and arena area south to the spring training stadium the city hopes to open near Camelback Road in 2009.

Like the Biltmore near 24th Street and Camelback Road, developers say Main Street will fortify an employment hub in the West Valley with office buildings and commercial development they say would generate 8,000 to 9,000 new jobs.

A zoning change from agricultural to planned area development, with the Planning Commission’s recommendation, will go before the City Council on June 26.

From there, the project must go through design review before a development agreement is brought before the council.

Developer Rick Burton with Rightpath Limited Development Group said he hopes dirt could move in six to eight months.

The project joins numerous others eating up farmland and frontage along the Loop 101 near the University of Phoenix Stadium.

Just north of the proposed Main Street site, a 13.5-acre development called Gateway is under way with offices, restaurants and two hotels.

East of the Loop 101, Zanjero, which Burton’s company is behind, and Westgate City Center continue to fill in with condos, hotels and retail stores.

Arizona’s NFL family, the Bidwills, recently announced their intent to develop 44 acres just south of the stadium with corporate offices, restaurants, hotels and residential. Their plan, called cbd101, still must go through the city’s planning process. But it calls for corporate offices along the Loop 101 and a tower that could climb 40 stories, rivaling the state’s tallest buildings.

Although not as lofty, the Main Street project also calls for tall buildings along its freeway frontage with buildings between 10 and 12 stories.

Other buildings further back from the freeway are planned between eight and 10 stories.

The Main Street proposal calls for 96 acres of business and retail development. The remaining 70 acres would feature urban housing, open space and a 1,000-room resort with the golf course.

Such a resort would be Glendale’s first, and only the second in the West Valley with the Wigwam Resort & Golf Club in Litchfield Park.

Main Street proposes to build as many as 2,000 multi-family high-end apartments and condos, which Burton referred to as an urban destination with plenty of open space, trails and fountains.

The Planning Commission required that 50 percent of the commercial uses called for in Phase 1 be in place before developing any stand-alone residential buildings.

Burton said Rightpath would master-plan and develop a portion of Main Street. They also could partner with other developers or sell portions of the property for development, Burton said.

Councilwoman Joyce Clark, who represents the area, said she welcomed Rightpath bringing the project forward and the chance to negotiate on any concerns. Clark declined to name any specific concerns.

The development would swallow up mostly farmland, although a smattering of homes is nearby. Some owners have sold to Rightpath. Others, who have enjoyed country living with acreage and horses, said they would wait to see what such a development in their front yards would mean.

Only one protest was lodged with the Planning Commission. The owners of 22 acres in the heart of the development are uncertain they want to sell. Burton said development could work around the narrow open space if the owners opt to hang onto the property.

Carrie Watters
The Arizona Republic
Jun. 11, 2007 09:16 AM

This article can be found at: http://www.azcentral.com/business/articles/0611gl-mainstreetinside0609.html

But city officials say that’s no surprise.

Before Glendale took a gamble on sinking $180 million into the arena, the city signed a deal with the Phoenix Coyotes’ owners to redevelop a dilapidated strip mall on Northern Avenue and to build Westgate City Center as a high-end shopping and entertainment district next to the arena.

The plan was that sales taxes from the private development would help pay off the city’s investment and encourage more growth.

The Coyotes’ move from Phoenix was a major boost to west Glendale, which at the time was largely agricultural.

The privately owned hockey team has struggled to balance its own budget, but city officials call its home venue a catalyst for growth.

“Without the arena, there most likely wouldn’t have been a Cabela’s, a Zanjero or a (football) stadium,” city spokeswoman Julie Frisoni said.

Building the arena, which has emerged as a major concert venue, provided fertile ground for the shopping, restaurants and high-end condos that have sprouted nearby, along with University of Phoenix Stadium. Those changes are transforming the city into a sporting and entertainment destination, with the Fiesta Bowl each January and Super Bowl XLII in 2008.

Still, the city must pay its yearly debt on the arena, just like a homeowner pays a mortgage. It was an $8.2 million payment this fiscal year.

The arena and two shopping areas developed as part of the deal added more than $6.5 million to the city’s coffers in 2006. To cover the $1.6 million on the debt, the city looked to its tax collections from other new developments in the sporting and entertainment district such as the Cabela’s outdoor mega-store.

Carrie Watters
The Arizona Republic