AZBigMedia
Six years ago the Arizona Department of Transportation was facing an impossible task: how to revamp or relocate its 65-year-old Flagstaff headquarters without using any public funding. At the same time, the City of Flagstaff was struggling with the dangerous traffic congestion on its overcrowded roadways.
Enter Vintage Partners, the Phoenix-based commercial real estate development and investment company, which devised a unique three-way, three-phase public-private partnership and land swap that allowed Vintage to adaptively reuse the old Harkins Theatre to create a headquarters for both ADOT and the AZ Motor Vehicle Department.
Additionally, Vintage Partners created the right-of-ways necessary to provide a regional roadway solution, moving traffic off an already overcrowded Milton Road. Best of all, this first-of-its-kind public-private partnership also helped revitalize a local mall, and increased city tax revenue, without raising taxes or using public funds.
