Denise D. Resnik, DRA Strategic Communications
CHANDLER CITY COUNCIL APPROVES ZONING ENTITLEMENTS FOR $150 MILLION MIXED-USE CHANDLER VIRIDIAN PROJECT TO MOVE FORWARD
Hines to demolish unfinished Elevation Chandler project on site
PHOENIX (September 12, 2014) – The Chandler City Council on Thursday night approved zoning and a development agreement for Hines to develop the Chandler Viridian mixed-use project located near the Chandler Fashion Center and Loop 101/Loop 202 interchange.
The 25-acre project will include a modern brand hotel, Class A multi-family and a central plaza with 250,000 square feet of Class A office and retail options along with a pedestrian promenade to Chandler Fashion Center. Chandler Viridian will enhance the overall value of the area and be a positive contribution to the Chandler Fashion Center’s substantial roster of retail tenants.
Chandler Viridian will be developed at the site of the currently unfinished Elevation Chandler mixed-use project. Hines is committed to razing the blighted structure, delivering on the Chandler community’s long desire.
“Culminating years of hard work, we are excited to move forward with our innovative mixed-use development that will bring new jobs and tax revenue to Chandler,” said Chris Anderson, Managing Director of Hines. “We are thankful to the Mayor, the City Council, and the City Planning Department for working with Hines to take the next step in making this opportunity a reality.”
Hines expects to close on the site later this year and commence construction in 2015.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,317 properties representing more than 541 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 391 properties totaling 161 million square feet, which includes 89.1 million square feet for third parties. With offices in 115 cities in 18 countries, and controlled assets valued at approximately $28.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information. Visit www.hines.com for more information.