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BUSINESS
Glendale, Plaza Companies to develop mixed-use project near State Farm Stadium
Plans in the works for huge site with Arizona Cardinals
Posted
The city of Glendale and the Arizona Cardinals are collaborating with Plaza Cos. to plan a mixed-use project for the city and the region.
The 62-acre site is east of Loop 101, south of State Farm Stadium, 1 Cardinals Drive, and to the east of the new Crystal Lagoons Island Resort development. It includes a parcel of land in the northwest portion of the property owned by an affiliate of the Arizona Cardinals. The remainder of the site is owned by the city of Glendale.
Upon completion, the mixed-use environment could include up to 600,000-square-feet of Class A office development, more than 60,000-square-feet of quality retail amenities, restaurant and entertainment space, hotels and approximately 230 units of multi-family residential, according to a joint news release from the city and Plaza Companies.
The site will be master planned to provide event parking for State Farm Stadium and the Crystal Lagoons Island Resort while creating a vibrant fan experience.
Plaza Cos., headquartered at 9401 W. Thunderbird Road, Suite 200, Peoria, has developed high-profile mixed-use developments in the greater Phoenix area, and this new project will be modeled after the success the company created at SkySong, The ASU Scottsdale Innovation Center, in Scottsdale and the revitalized Park Central in midtown Phoenix.
“We are looking forward to creating a significant economic engine for the West Valley that will add to the substantial private investment pouring into the growing sports and entertainment district that includes State Farm Stadium, Gila River Arena, Westgate Entertainment District the Crystal Lagoons Island Resort development and the many other amenities in the area,” Plaza Cos. Chairperson and CEO Sharon Harper stated.
“We know from experience that a strong public-private partnership can lead to transformative economic impact, and we look forward to bringing an innovative development approach to this project.”
The team will collaborate on creating a vision for a strong region-wide identity through the use of art, landscape and shade, and overall connectivity between State Farm Stadium and throughout the project.
The project could incorporate a pedestrian-oriented, walkable environment highlighted by tree-lined shaded sidewalks that parallel vehicular spines winding through the development. The walkways will be enhanced with pedestrian nodes and landscaped plaza spaces that encourage interaction and are appointed with public art, accent lighting and a featured outdoor plaza to link to the pedestrian underpass to the stadium to the north.
“This exciting partnership, with a true industry leader in Plaza Cos., will create new employment opportunities for the community, draw major businesses and commerce to the region as it provides further cultural enhancements for this already thriving area of the city,” Glendale City Manager Kevin Phelps stated.
Crystal Lagoons Island Resort is slated to open in late 2022. State Farm Stadium will host the Super Bowl in February 2023 and the NCAA Men’s Basketball Final Four for a second time in 2024.
Opened in 2006, State Farm Stadium has resulted in an economic impact exceeding $5 billion, according to Plaza and the city of Glendale. The biggest single piece of that came in 2015 when the Seidman Research Institute, W.P. Carey School of Business at Arizona State University determined that Super Bowl XLIX, the 2015 Pro Bowl and related events produced a gross economic impact of $719.4 million for the region, the largest of any special event ever held in Arizona.
“The Arizona Cardinals look forward to collaborating with Plaza Companies and the City of Glendale to create a distinctive mixed-use business center that attracts companies, creates great jobs and enhances exceptional regional amenities,” Cardinals owner Michael Bidwill stated.
