Shopping malls, houses, municipal buildings, even a lake were put on hold
By Lesley Wright
The Arizona Republic
In the West Valley, large empty fields are a stark reminder of the ambitious projects that were proposed during Arizona’s real-estate boom but were never built.
The national recession that began in 2007 dealt a blow to several projects that regional leaders hoped would create jobs and generate sales-tax revenue for local cities’ coffers.
The casualties included two glamorous regional malls, a jobs corridor along Loop 101 in Glendale, a Surprise master-planned community and proposed recreation hubs, such as Buckeye Town Lake and a sports-themed complex with a resort and golf course that would help pay for Glendale’s baseball stadium.
Many of these developments have been delayed for years. In some cases, decades could pass before some of those ideas become reality.
But some private projects appear to be on the verge of a breakthrough.
“The market has shifted from fear-based to one focused on future profit,” said Steve Lindley, executive vice president with Cassidy Turley Commercial Real Estate Services. “Everyone can get comfortable that we’ve hit bottom.”
Here are high-profile West Valley projects that have stalled:
Also:
Dwindling warehouse space in EV triggers first new buildings since 2008/East Valley Tribune
