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News & Events - 2008DeBartolo Development, LLC in brief: DeBartolo Development, LLC continues the tradition of developing premium retail and mixed-use real estate projects throughout the U.S. The corporation plans to expand its nationwide development resources by adding manpower and regional development offices during the next 12-18 months. DeBartolo Sees Mixed-Use Project Opening in 2008
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July 9, 2008 MESA, AZ--DeBartolo Development LLC plans to open the first phase of its 114-acre Mountain Vista Marketplace in summer 2008. The project is planned for a site at the northwest corner of Signal Butte and US Route 60, where DeBartolo proposes to build a mixed-use retail center with a Super Target as its anchor. Tom Nagy, VP of marketing with DeBartolo, tells GlobeSt.com that the plan is to build the Mountain Vista project in two phases, a first phase of 350,000 sf and a second of 200,000 sf. In addition to its retail, the project also could include one or two hotels and about 380 multifamily units, but the details for those components are still being finalized. According to Erin Nellis, senior development officer for the Tampa-based DeBartolo Development's Phoenix office, DeBartolo has been working closely with city officials to address the last issues facing the project, which it hopes to resolve soon. Assuming that the city and the developer get those details ironed out, DeBartolo is aiming for an opening in late summer of next year. In addition to Super Target, DeBartolo has preliminarily lined up Marshalls, Old Navy, Petco, Shoe Pavilion, Bank of America and Dick's Sporting Goods as tenants in the new development. Nagy tells GlobeSt.com that the development firm is "very optimistic and very enthusiastic about the restaurants and shops" that will be part of the Mountain Vista Marketplace, and he is hopeful that the company will soon be able to announce the names of some restaurants and additional shops. Nellis says factors driving the project include new housing starts coupled with the completion of several highway projects that have escalated job growth in the metro area surrounding the development site. "We are basically taking a suburban area and creating a lifestyle hub within it," Nellis says. The City of Mesa and DeBartolo are working to make the complex as pedestrian-friendly as possible, with easily accessible walkways throughout the project. The mixed-use center is proposed to connect with and complement the nearby Mountain Vista Medical Center.
News Article By Globest.Com |
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