Earlier this month, the Scottsdale City Council approved the Southbridge II project by a 4-3 vote. The project is set to begin in the summer of 2021 and is expected to add over one million square feet of mixed-use properties to Old Town Scottsdale. While the project’s supporters contend that the new real estate venture will bring economic vitality to a declining area, some community members fear that the city’s unique culture will be lost in the process. Here are some of the latest developments with old Scottsdale’s Southbridge II Development:
As the population of Scottsdale and its surrounding area has grown, the need for more residential and commercial spaces has become increasingly evident. Southbridge II will add more living and work areas to the community. The multi-million-dollar Southbridge II project is located at Goldwater Boulevard and Fifth Avenue and is expected to cover approximately ten acres near the canal. One of the goals of the project is to help connect the original Southbridge development and the Scottsdale Waterfront.
According to a recent report, Southbridge II will cost an estimated 750 million dollars to complete and will include the following properties:
- A hotel with 200 rooms.
- One hundred nineteen thousand square feet of office space situated in an office tower.
- Five condominium buildings with a total of 570 living spaces.
- Seventy-eight thousand five hundred twenty square feet of retail space.
- Small community parks.
- An urban grocery and food hall
The project is welcomed by those who see the need to revitalize this part of Scottsdale. However, others see the development as a threat to the culture and style of the town. Concerned shop owners on 5th and 6th streets are facing demolition of the properties where their businesses are currently located. Other citizens have raised objections to the project on the basis that the proposed new construction won’t align with the area’s existing architecture. Another criticism of the Southbridge II development is that the plan offers inadequate parking to support the needs of those living and working in the area.
Laura B. Bramnick is an experienced real estate attorney who can help you during every stage of your Arizona commercial or residential real estate transaction. If you are seeking an exceptional, client-driven real estate lawyer in Scottsdale, Phoenix, Sedona, and throughout the State of Arizona, contact Laura B. Bramnick to schedule your consultation.