By Roland Murphy | AZBEX
After a planned 566-unit multifamily development from IDM Companies failed to take shape, Panattoni Development Company is now proposing to revert the site to industrial uses for a 448.8KSF warehouse development.
IDM had planned in 2023 to build IDM Fountainhead at the SWC of Priest and Alameda drives in Tempe. The company requested and received a General Plan amendment and a rezoning from General Industrial to Mixed-Use, High Density for the project. No development was ever begun.
According to the submitted narrative, PDC “is proposing to redevelop approximately 25 acres of property located at the southwest corner of Priest Drive and Alameda Drive within Fountainhead Corporate Park. The Site, which consists of two lots, currently accommodates six vacant and dated office buildings ranging in height from one to three stories and two parking garages. The existing office buildings, which no longer meet the needs of today’s workforce, represent an underuse of a property in a highly visible and employment-intensive area.”
