Hines Plans Early 2015 Construction Start For Chandler Mixed-Use Project
Hines recently closed on a 25.5-acre site at the northwest corner of the Loop 101 and Loop 202 Interchange and in the vicinity of the Chandler Fashion Center. The company has been planning to develop there a project called Chandler Viridian for more than two years.
By Liviu Oltean, Associate Editor
Rendering of the Chandler Viridian
Paving the way for development of a mixed-use project near Chandler Fashion Center, Hines has closed on the acquisition of a 25.5-acre site at the northwest corner of the Loop 101 and Loop 202 Interchange, the company announced Oct. 15.
Dubbed Chandler Viridian, the project will include luxury apartments, a six-story hotel, a central plaza with 250,000 square feet of Class A office and a pedestrian promenade with retail space.
Hines’ plans have been delayed by “significant legal complications related to the unfinished Elevation Chandler project,” the firm explained in a statement. That partially built hotel has occupied the site since it was abandoned by its developer in 2006. Hines plans to demolish the structure in December.
“Chandler Viridian will expand the area’s economic engine by creating a true live, work and play environment. The visibility and walkability of Chandler Viridian exceeds many other mixed-use projects in the area,” said Chris Anderson, Hines’ managing director and local city leader, in a statement. “Hines is excited to develop the last available site adjacent to the Chandler Fashion Center and complete the master plan envisioned by the Chandler City leadership and citizens over 15 years ago.”
Phoenix-based Alliance Residential will start construction in the first quarter of 2015 on Chandler Viridian’s residential component, a high-end apartment complex. Construction of the vertical infrastructure for the hotel, retail and office components is scheduled to begin during the second quarter.
“This is a high-profile site in the midst of the Price Corridor, and the entire community will benefit from having a new project there,” said James Smith, the city’s acting economic development director. “This is the moment our residents have been waiting for – to see that failed structure come down, and new development take its place.”
Rendering Courtesy of Hines via Official Website
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