If all goes well, Elevation Chandler should finally be taken down during first quarter of 2015, reports Annie Z. Yu of The Arizona Republic.
The Chandler City Council on Thursday unanimously approved a zoning ordinance for Chandler Veridian, which calls for a mixed-use development that includes retail and a hotel in the northern half of the parcel northwest of the Loop 101/Loop 202 interchange and adjacent to Frye Road in Chandler. Office buildings would be in the center of the parcel and multi-family residential in the southern half of the 26-acre site.
The ordinance specifically calls for Lot 1, near the center of the plot, to be rezoned from commercial and multi-family residential to commercial, and Lot 2, the southern half, to be rezoned from commercial to multi-family residential.
The ordinance takes effect in 30 days. The developer, Houston-based Hines, has until the next city council meeting on Sept. 8 to come to a development agreement with the city and all parties involved with the land.
Elevation Chandler construction began almost a decade ago but screeched to a halt in 2006 when the developer began struggling financially. The concrete shell of the forgotten hotel went through bankruptcy filings, foreclosure, complicated trustee sales and legal battles over property ownership.
