Maricopa rising, retail lagging

Maricopa Mayor Christian Price
Maricopa Mayor Christian Price

By Callan Smith | Rose Law Group Reporter

Wednesday evening in Phoenix was all about the City of Maricopa and growth, which according to a panel, including Maricopa Mayor Christian Price, is back.

“Maricopa will continue to pull more and more homebuyers looking for what they can’t find in Chandler,” said Land Advisors, Ryan Semro. Semro pointed to the twenty-five subdivisions currently in the Southwest Chandler submarket, with a median home price of $380,000 and indicated that the supply would run out within thenext two to three years.  By contrast, Maricopa has ten active subdivisions with a median home price of $206,000, and Semro suggested that builders are showing major interest in Maricopa in order to replace their East Valley developments.

Demand for housing in Maricopa is expected at 970 units annually for the next ten years, said Richard Merritt, President of Elliott D. Pollack and Company. Maricopa’s population of 50,000 is expected to accelerate 29,100 persons through 2025 said Merritt. Maricopa was one of the fastest growing cities in the nation from 2004 to 2010, when it jumped from ten-thousand people to over forty-thousand said Merritt.

Merritt indicated that while Maricopa’s population has been growing quickly, the retail development is lagging and the market is underserved. Maricopa Mayor Price said the city recently did a survey of residents, who overwhelmingly indicated they want to shop locally. “There is a lot of vacant land in Maricopa,” said Price, “The city is currently about fifty square miles in incorporated city area and our planning area is two-hundred-fifty square miles. At full build out the city could be at several hundred-thousand people.”

The infrastructure is in place for growth said Jordan Rose, Founder and President of Rose Law Group. “There is enthusiasm to get things done in Maricopa, “ Rose said, “when you look at the options in development in the future you can see the vision that Mayor Price and his council has along with his staff and economic development team.” Rose urged those gathered to check out Maricopa’s new city hall and the Copper Sky Recreational Complex, both are strong statements about where the city is and wants to be said Rose.

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November 2016