Vestar Development Co. is moving forward on a 900,000-square-foot retail development at Farrell Road and Route 347 in Maricopa.
The $145 million outdoor center, which will be across the road from the Harrah’s casino on the Ak-Chin Indian Community, will be Vestar’s fourth largest development in its portfolio, behind the 1,950,000-square-foot Crossroads Towne Center on the Gilbert-Chandler border, the 1.2 million-squarefoot Desert Ridge Marketplace in Phoenix, and the 1.3 million-square-foot Tempe Marketplace.
David Larcher, executive vice president of the Phoenix-based developer said it will draw its main customer base from a 6,000 home development being built in the area by Shea Homes, Fulton Homes and Standard Pacific Homes.
Larcher said company officials will be watching closely to see how the surrounding residential areas develops. Larcher said the company has already received zoning approval and is trying to attract a number of retailers. “We hope to be under way (within) 24 months,” he said.
He added the outdoor shopping plaza will be the first of its size and scope in the city, which has been traditionally been underserved with adequate shopping amenities, he said.
“There’s just some neighborhood centers,” he said. “They have to drive to Ahwatukee ... about 17 miles away.”