It used to be that developers looked to the outer fringes of cities to build new projects and subdivisions.But is there a trend underway to build in the cities? A builder is currently planning on constructing four high-rise condos near Fiesta Mall and in Tempe near University and Rural a group of three investors are planning on a project that will bring over a million square feet of residential and commercial to that site. These projects are not isolated examples. Both Scottsdale and Phoenix have started high rise developments and I’m sure others may be well in the planning stages.With the high cost of energy and city infrastructure strectched to the limit these types of projects make a lot of sense. Buyers are opting to sacrifice the large yard and square footage to gain convience and nearby services.Watch for more developments like these coming online in the future.
One CommentLeave a Reply |
I love the idea of Mesa having the new Fiesta Towers going up with shopping and other amenities integrated within the complex.
With Macy’s moving into the Robinson’s May store at Fiesta Mall, I wonder what will move into Macy’s space. I saw a survey today asking people what they would like to see like a movie theater or ice skating rink!
Whatever it is, something new most likely will do well.