PHOENIX—Western Vertical Holdings, a company formed by Bob Agahi and David Sellers, has begun construction on Phase 1 of The Colony, an adaptive re-use project located on 7^th Street just north of Missouri Avenue in Phoenix. The Herb Box, innovative world cuisine with locations in Old Town Scottsdale and North Scottsdale; Stock & Stable, an American gastropub by the creators of Clever Koi in Midtown Phoenix; and Pure, a sushi restaurant based in Scottsdale; have already committed to the project and expect to open restaurants at The Colony in November. Additional local concepts are in negotiations to lease space in the 1^st phase.

The Colony will be a 22,467-square-foot infill redevelopment built in two phases. The project is located in what is becoming an emerging local restaurant district in Central Phoenix. The first phase of the project is a renovation of a building originally built in the 1950's, which has stood mostly vacant in recent years. Terry Brodkin of Scottsdale was the owner of that building and is a partner in the first phase of The Colony with Agahi and Sellers. Phase 2 will be a newly built ground up 8,122 square foot building on the north side of the development, which will begin construction this summer and is expected to be open 2^nd quarter of 2016.

“The Colony is an example of a market shift of local restaurateurs and retailers wanting to locate in infill areas,” says Sellers, who is also president of LGE Design Build in Phoenix. “Densely populated areas are now more desirable for restaurants and retail businesses than strip centers.” LGE will serve as the general contractor for both phases of the Colony.