Phoenix developer Vestar eyes two state land parcels for mixed-use projects near TSMC

Phoenix-based retail developer Vestar has its sights set on two pieces of vacant desert land owned by the state of Arizona that it wants to scoop up at auctions sometime this year.

Both sites are just east of Interstate 17 — across from TSMC Arizona’s sprawling campus and in an area slated for millions of square feet of new commercial development and thousands of new housing units.

The first property Vestar wants to develop totals about 186.8 acres, spanning from Dove Valley Road to Sonoran Desert Drive, the site of its proposed Dove Valley Towne Center.

It’s a mixed-use project set to include a 544-room hotel, a nearly 86,000 square-foot fitness center and 437,000 square feet of retail space, according to documents filed with the city of Phoenix.
The developer worked with the city last year to rezone the site for commercial, retail and hospitality uses.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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