The real estate landscape of the Valley is constantly changing. With ASU’s increased presence in downtown Phoenix, there has been a revitalization of the area. A huge addition will be a grocery store in the area. Here’s what Phoenix Business Journal reported,
“Ortega — who has done a number of big development and retail deals in downtown Phoenix and throughout the Valley — said development plans could entail 405 apartments, 82,000 square feet of office space and 20,000 square feet of retail.
The real estate broker said one of his goals is to bring a grocery store to the site. He’s been a longtime advocate of more retail in the downtown Phoenix market.
There is a Fry’s Food Store slated for the Block 23 development planned by RED Development in between CityScape and Collier Center and north of Talking Stick Resort Arena. Fry’s is owned by the Kroger Co. (NYSE: KR).”
The addition of this retail development could mean the potential for property values increasing and the downtown area being generally more livable. Exciting times in the Valley of the Sun! It just keeps getting better!
Read the rest of the article here.