New shopping, jobs and entertainment expected by 2009

Retail, dining, entertainment and jobs will be packaged in a new lifestyle-focused shopping center in excess of 900,000 square feet expected as early as 2009.

The Vestar development will cover approximately 120 acres of land located about two miles south of the John Wayne Parkway (SR 347) and Maricopa-Casa Grande Highway intersection.

“It will be the single largest retail expansion plan in Arizona history – filling city coffers with new tax revenue and creating thousands of construction and permanent jobs,” said a Vestar release.

Currently, Vestar has not identified any future tenants, but AMC Theatres, Old Navy, Target, Barnes & Noble, Blockbuster Video and many other corporate retailers can be found at their other developments.

A conceputal sketch illustrates Vestar’s Sundance Towne Center to be built in Buckeye, Arizona. The Maricopa complex is supposed to have a similar look and quality according to Vestar.

“Vestar has a history of strong success with marquee projects,” said David Larcher, Vestar Executive Vice President. “And during the next 40 months of our DESTINATION AZ program, we will not only be defining the next generation of Arizona retail, but improving quality of life in Arizona and delivering much-desired goods and services.”

DESTINATION AZ is the acronym Vestar uses to describe the types of services they intend to offer at their retail/lifestyle projects. These include: Dining, Entertainment, Shopping, Tax revenue, Innovation, Nightlife, Attractions, Tenants, Imagination, Opportunity and Neighbor.

They are currently planning on developing 17 similar projects throughout the Valley such as the Tempe Market Place, scheduled for completion in July 2007, and the already completed Desert Ridge Marketplace in Phoenix.

The Maricopa lifestyle facility is expected to resemble the look and quality of their other projects.

Construction is scheduled to begin by the end of 2006.