"We'd like to see quality development in that area," Denise Yanez, a Phoenix economic development specialist, tells GlobeSt.com, referring to the seven-square miles of riverbed property that the city hopes to turn into a hotbed of industrial and commercial growth.
Last month, the Downtown, Tourism and Sports Subcommittee forwarded a recommendation to the city council urging members to accept a proposal for an 18-hole golf course to be built on 160 acres between 7th and 16th streets by the Rio Salado Sports Group, which includes race car driver Tom Sneva and other investors. The course, designed to be the centerpiece of the renovation effort, is expected to be ready by November 2005.
Construction has already been completed on several other projects, including the Riverpoint Commerce Park at 32nd Street and Broadway; the 225,000-sf, industrial-use Lincoln Commerce Park at 7th Street and Interstate 17; and the 34-acre University Center, a three-building commercial complex built by Sun State Builders.
The area will also soon become home to Ace Asphalt, which is building a 30,000-sf headquarters on 34 acres at 3030 S. 7th St. Yanez said a 144-acre parcel at 16th Street and University Avenue, a prime commerce center site, is currently on the market.
In addition to the industrial and commercial development planned along the river, Yanez said the city also will undertake an $85-million desert habitat restoration project that will add a greenbelt to the barren river banks.
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