North Phoenix continues to grow so we caught up with two of the latest development updates. Read on to learn more.
Thompson Thrift Officially Announces Their Plans for 30 Acres of North Phoenix Land
Rendering Courtesy of Thompson Thrift
Thompson Thrift, a full-service nationally recognized real estate company, recently announced the acquisition of a 30-acre parcel near the new $12 billion Taiwan Semiconductor Plant (TSMC) currently under development. Thompson Thrift plans to develop a mixed-use project that will feature luxury apartment homes and 35,000 square feet of retail on the site during the next two years.
“TSMC is changing the employment landscape in North Phoenix with their new chip fabrication plant. Thousands of new jobs will be created by TSMC and thousands more are expected in the coming years with companies wanting to work alongside TSMC,” says Ashlee Boyd, managing partner for Thompson Thrift Commercial. “Thompson Thrift has a significant history developing mixed-use projects that are integral to growing communities and we are excited to bring an integrated mixed-use project to this very dynamic part of North Phoenix.”
Located just off Interstate 17 at the southwest corner Dove Valley and the newly approved 29th Avenue intersection, approved plans call for a 16-acre development featuring luxury apartment homes. The commercial portion of the development will contain approximately 35,000 square feet of retail space set among a series of freestanding and multi-tenanted buildings. Oregano’s, a local, family-owned pizza chain, and Twisted Sugar, a gourmet cookie shop, have already committed to the site. Thompson Thrift is in negotiations with various national, regional, and local retailers and restaurants for another 20,000 square feet within the project.
“The property is advantageously located along a main growth corridor in the north Phoenix area,” says Chris Hake, senior vice president, director of the Southwest region for Thompson Thrift. “We expect leasing interest will continue to be robust for users seeking a high-quality option with unmatched access to the area’s growth.”
The remainder of the 30-acre parcel will remain as undeveloped space that is part of Skunk Creek Wash natural preserve, which will feature pedestrian amenities and running paths from Dove Valley south to Sonoran Desert Parkway. Thompson Thrift’s design plan features seamless pedestrian connection to the preserve’s trail as well as complementary community amenities like volleyball courts, green space for yard games, and ramadas.
“Our residential, commercial and construction teams will work together this year to secure financing and prepare the site for vertical construction,” says Josh Purvis, managing partner for Thompson Thrift Residential. “Having all three parties sitting at the planning table together is beneficial when working with city planners and stakeholders to deliver all components in close proximity.”
GPS Commercial Advisors Confirms Completion of North Phoenix Development and New Tenants
GPS Commercial Advisors, a real estate brokerage company, recently announced the completion of a development on the northwest corner of 35th Avenue and Happy Valley Road. The project was completed while working with the property’s landlord, James Pederson and the Pederson Group, Inc.
According to GPS, the tenant mix joining the site will include Super Star Car Wash, Brushfire Tacos y Tapas, Dutch Bros Coffee, Slim Chickens, and more. gpsaz.com