Massive CityNorth development slated for northeast Valley

From the Arizona Republic:
Realtors hurting as sales slow,
As our local real estate market has cooled, many new real estate agents are getting out of the business. The number of licensed agents in the state increased from 53,478 in July 2002 to 80,210 at the end of March according to the state Department of Real Estate. Industry sources estimate that as many as 80 percent of new agents quit in their first year and that more than 90 percent quit within three years. Among the reasons given for quitting are long hours, the financial demands of establishing a business and fierce competition. Agents and brokers say some new agents aren't prepared for the demands of selling homes-- the stress, the around the clock hours. Some have never had to deal with anything but a hot market and don't know how to make a house sell when there are now so many for sale. Even with the negatives, the real estate business holds great appeal. People like the idea of working for themselves, and the money is good for those who are successful.

http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/arizonarepublic/news/articles/0507washout05070.html

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From the Arizona Republic:
Buckeye land fetches new high,
Land Baron Investments recently closed on a 152-acre parcel of vacant land at the northwestern corner of Thomas Road and the Sun Valley Parkway in Buckeye for roughly $15 million, or about $98,000 per-acre. This deal and several other projects are part of the latest push to develop the 30-mile stretch of the Sun Valley Parkway. "We think this area is poised to explode," said Brent Moser, a senior vice president with Grubb & Ellis, who was involved in the deal. The property will have new homes and retail. "We have seen major developers and home builders get on (Sun Valley Parkway)," said Brian Rosella of Grubb & Ellis. "Land Baron is seeing it as the future of Buckeye and the West Valley as a whole. You will see it be the premier area."

http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/arizonarepublic/business/articles/0508biz-sunvalley08.html

From the Phoenix Business Journal: 5-11-06

The first phase of the massive CityNorth project at Deer Valley Drive and 56th Street is expected to break ground in October. Phase 1 will have more than 2 million square feet of retail, office and luxury residential space. CityNorth plans luxury condos over retail and office- along with several high-end department stores. A five-star, 250-room hotel is also planned on the east end of the project, and a four-star, 300-room business hotel with an 80,000 square foot health club will anchor the west end of the project. The 144-acre site will have about 5 million square feet of retail, office, hotel and residential when completely developed.

http://phoenix.bizjournals.com/phoenix/stories/2006/05/08/story6.html?t=printable