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PHOENIX-The Solanna Group has hired a mastermind to game out a $250-million plan for 90 acres of the 53,600-acre Salt River Pima-Maricopa Indian Community. The tentative plan calls for one million sf of mixed-use development.
The local landowners tapped Fordon Partners International, a well-known planning firm led by David Fordon, whose handiwork includes development on the Salt River Indian Reservation for Salt River Devco. Solanna's preliminary plan earmarks roughly 40 acres for two hotels and 50 acres for office and retail development.
Hired to market the acreage, Shawn Greenway, a senior associate with Grubb & Ellis/BRE Commercial LLC, tells GlobeSt.com that the development tracts will be available for ground lease or joint venture projects with the Solanna Group. "This land has never before been available for development," he says. Projects could break ground within six months, according to Greenway.
The amount of mixed-use space to be developed has yet to be determined. "But, about 30% of the remaining acreage will be retail while 70% will be office," Greenway says.
Greenway predicts the acreage will attract more national developers than any other tract in the Valley. The land sits at the intersection of Loops 101 and 202, one of the most visible locations in the Valley. The Salt River Pima-Maricopa Indian Community is bounded by Mesa, Tempe, Scottsdale, Fountains Hills and the Phoenix metro. Existing development includes the Casino Arizona, Talking Stick Golf Course and the Skokie, IL-based Alter Group's Riverwalk Arizona, a 2.1-million-sf office and retail project on 187 acres off Loop 101 between Indian Bend Road and Via de Ventura.
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