Millions of square feet of new commercial development could rise in north Phoenix.
The city of Phoenix is pursuing a development agreement with Minnesota-based real estate developer Mortenson for a site of prime desert land formerly eyed by the Phoenix Coyotes for a proposed hockey arena. In June, Mortenson placed the winning bid in an Arizona State Trust land auction, paying $136 million for the 217.16-acre site located west of North Scottsdale Road and north of Loop 101.
Mortenson’s plans for the overall site include five million square feet of commercial space, according to a Phoenix City Council agenda item to be discussed Aug. 27. The first phase of development is set to feature a 30-acre mixed-use spec office campus.
