Edison Pointe loses 1 tenant, plans groundbreaking this summer

A long-awaited commercial retail project could be weeks away from breaking ground, according to both city officials and key players in the project’s development. The plan is to have a major clothing retailer, gym, multiple new restaurants and various other stores that could create 100 jobs or more in Maricopa by spring.

The dirt lot south of Fry’s Marketplace has changed hands a few times since the city slated the land for commercial development more than 10 years ago. Now, the area known as Edison Pointe is in the final stages of gestation, according to Casey Treadwell, leasing director at Vintage Partners the development group in charge of the project.

“After a lot of work and a lot of marketing over the past four or five years, we are moving forward with the project, pending our final construction loan approval,” Treadwell said. “We’re in line to have that in approximately three weeks, and we’ll start construction within a week after that.”

Despite losing one of its larger prospects – Petco – Vintage is hoping to commence construction at Edison Pointe by the end of July.

“We really hoped that we could get it done by the end of this year,” Treadwell said. “When trying to sign the leases for the tenants, which is required for the loan, we just kept running into roadblocks.”

The process of development is not an easy one, city Economic Development Director Denyse Airheart said during a Maricopa Advocate Program meeting Thursday. Maricopa being so young and constrained in so many ways, it can be difficult, she said, to attract and solidify new development.

To Airheart, Edison Pointe is a milestone of sorts, which means job creation and economic growth. She praised Vintage for its efforts and willingness to take the chance on Maricopa.

“These guys [Vintage] have been aggressively trying to find tenants for the site,” Airheart said.

And, despite losing Petco, she said, “Vintage Partners believes in the project and believes that they will be able to attract another user to that site.”

There are still a few financial ducks to align before the project begins. However, both Treadwell and Airheart are confident in saying the project will soon be moving forward.

An exact date has not been set for groundbreaking. And though Treadwell could not speak to the opening of the individual businesses, he said Maricopans should be able to anticipate the project being completed in spring of 2018.

Signed tenants include Ross, Goodwill and Planet Fitness. Businesses in escrow for, or already in ownership of, property at the site include Dunkin Donuts, Brakes Plus and Burger King.