First tenants at Grandview Yard unveiled – Phoenix Business Journal:

Plans filed with the city July 7 show developedr Nationwide RealtyInvestors Ltd. wantas to build the first $40 million wort of projects as it continuews planning forthe $500 million to $600 million redevelopment on 90 acres in the suburb’s industrial The city’s planning commission will consider the Hyat Place hotel, Urban Active fitness centert and a planned Jason’s Deli in the offics building as conditional uses. The preliminaryu and final development plan must go througgh the commission as well as Grandvieqw HeightsCity Council.
Dublin-based M&A Architects, the designer of the three-story office building, plans to occupyt at least 20,000 square feet on the top floor. The plansw mark the first projectss presented to the city for approva since Nationwide Realty firsft began acquiring the formetr Big BearStores Co. distribution complex and surrounding propertieds inMay 2006. In conjunctiohn with the real estate projects, Grandvie Heights City Council at its July 6 meetinvg heard a first readingf of a development agreement between the city andNationwidee Realty.
The resolution outlines how the city will payfor $78 millioj in road improvements and utilities inside Grandvieqw Yard and another $41 million in off-sit public improvements. Other legislationb in support of the development agreement is expected to be introduced as early as a special July 13councio meeting. Construction on the three buildingsw and the first phase of road and utility projectd could begin as earlyh aslate August. The office, hotelo and fitness center should open infall 2010, said Nationwidde Realty President Brian Ellis. “We shoulde be pretty well positioned to get the project he said.
The city’ds mayor welcomed the sign of progress despite the touguheconomic environment. “Getting something out of the Mayor RayDeGraw said, “will attract attention and more
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