Are you looking to buy, sell, or invest in the greater Phoenix area? If so, you’re sure to be excited by all of the fantastic developments going on. Major new businesses are either moving in or expanding their operations in Phoenix. Everything from agribusiness to new hotels to electric vehicles are either coming to or growing in Phoenix. I’ve got a list of the most significant developments in the Phoenix area for you today, and you will not want to miss it.
1. Global Ambassador Hotel. This 141-room hotel will be led by Dirks Bentley, Larry Fitzgerald, and Devon Booker. It will be located in the Arcadia area in the Grove Neighborhood.
2. Intel Expansion. Chips make the world go round, and Intel is constructing a $20 billion expansion that will create roughly 3,000 new jobs.
3. Arizona Fresh Agri-food Innovation Center. This will be located in the West Valley and is being developed by Peoria-based Plaza Co. The 1.2 million square foot center will feature a distribution center, farmers market, and more.
4. Electric Vehicle Expansion. Lucid Motors in Casa Grande and Nikola Corporation are expanding in the area. Nikola’s new hub will be part of its push toward hydrogen production.
5. Pinal County Industrial Growth. Procter & Gamble is investing $500 million in Coolidge, and Casa Grande will see Kohler coming into the area. Eloy has countless semiconductor manufacturers in the region as well.
6. Data Center Growth. Facebook has the largest infrastructure development in Phoenix in East Mesa. We also have Stack Infrastructure building a site in Phoenix and in Glendale.
7. Virgin Galactic. Mesa will be the home of the final assembly manufacturing facility for Virgin Galactic’s spaceships. It will bring on hundreds of new jobs and produce up to six ships per year.
8. Battery Manufacturing Facilities. Idaho-based Kore Power is starting construction on a battery plant in Buckeye. LG is also looking at a $1.4 billion investment in the valley.
9. 250 Rio. This will be an iconic office building in Tempe. It’s a 14-story structure in the Ash Avenue area with plenty of space for retail and other amenities.
10. Electrameccanica. This Canadian-based three-wheeled car manufacturer is relocating its headquarters to Mesa.
11. TSMC. They are spending $40 billion on two factories in AZ. They will be producing silicon wafers to produce chips. This will eventually lead to 4,500 new jobs.
12. Skysong. The last Skysong development will be breaking ground soon here in south Scottsdale.
13. West Valley Retail Growth. Hundreds of millions of square feet of retail space are going up all over the west valley.
14. Nestle. In 2022, Nestle announced they would build a new Coffee Creamer plant in the west valley. On site will also be the makers of Red Bull and White Claw.
15. Developer George Oliver. This man paid $61 million and will infuse another $52 million into a building in Biltmore. Anything with his name attached is sure to be huge.
16. Esplanade. Four of the five buildings there were just purchased for remodeling by factors in New York and Philadelphia.
17. Discount Tire. This huge distributor and retailer is going wild in Phoenix. They are moving to a new headquarters in North Phoenix, which is just massive.
18. Surf Parks. Two different surf parks are coming soon to the Phoenix area. The first will be in Mesa, called Cannon Beach. The City of Maricopa will also be getting a 71-acre park.
19. Metro Center Mall. Redevelopment is getting underway on this long-disused mall. The whole area will be refreshed with new housing, retail, and parking.
20. Scottsdale Fashion Square. This area is getting a massive new modern makeover. They will start construction of a massive hotel called Caesar’s Republic. There will be a luxury fitness center and apartment complex coming as well.
21. Via Resort and Mattel Adventure Park. It’s a $1 billion resort that will include multiple hotels, an artificial lake, as well as a huge theme park based on the Mattel family of properties.
As always, thank you for checking out my list. If you have any questions about the exciting developments coming to Phoenix or real estate in general, please call or email me. I am always happy to help you with any of your real estate needs.