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Westcor and Signature West Properties
are considering plans for 20 acres of prime real estate
near Chandler Fashion Center, and one option appears to
be high-rise condos.
Signature, chaired by Jeff Cline of Chandler,
recently won City Council approval to build a 10-story
Renaissance ClubSport Hotel. The top two floors will house
27 luxury condominiums at the site, south of the mall
near the Harkins movie theater complex.
Now, Cline is meeting with officials
from the city and mall developer Westcor to plan what
will be built on the land just south of the hotel. Signature
is considering "several development ideas,"
said Lindsay Hicks, Cline's spokeswoman.
Mayor Boyd Dunn said he would love to
see well-planned lofts on the land.
"The developer has kind of hinted
he's interested in doing that because of the demand he's
had already," Dunn said. "If he did go that
route it would be appropriate."
In April, Cline announced his plan to
build penthouses atop the hotel and launched an informational
Web site. The condos, called Cielo Sky-Rise Residences,
will range from 792 to 1,980 square feet and sell for
$500,000 to $3 million.
The project's broker, Scott Graff of
Arizona Condo Connection, said those units won't be available
for sale until the end of the year, but he has received
a steady stream of calls from interested buyers every
week since news of the condos became public.
"The project response has been exciting,"
he said. "Surprisingly enough, we're getting people
from out of state."
The 20 acres where additional condos
could be built is owned by Cline and a family that once
farmed the land. Westcor is working with the family to
determine how it will be developed.
Dee Ross, Chandler Fashion Center senior
property manager, said she thinks Cline will test the
waters with his current project before building another
next-door.
"I absolutely think residential
would be a good fit," she said. "The jury's
out with how well the first group (of condos) goes. How
many more are added will be based on their success.
"This is a very wise hotel developer."
The attraction of living near the mall
includes nearby shopping and the growing number of restaurants
within walking distance, Ross added.
High-rise condos are building momentum
in Phoenix and Tempe. Dunn said Chandler is ready to tap
into the trend. As the city nears build-out, planners
are looking for opportunities to "build up."
Dunn said he has received several calls
from residents and friends interested in snagging a hotel-condo
unit. People are anxious to locate in an area where they
can live, work and play.
"There is excitement out there concerning
the condos," he said.
Such developments are "the hottest
item right now, in my discussion with other mayors."
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