Tuesday, February 27, 2007

Prasada: Arizona's Largest Mall

Prasada, an upcoming retail development which is THREE times the size of any mall project in the state is coming to Surprise. Westcor will be developing the new project projected to have 1,200 acres of retail space which will include an auto mall, shopping center, and big box retailers. The entire project, a total of 4,200 acres, will eventually include residential & retail space. A proposal to construct a hospital, medical offices, townhomes & condominiums is also possible. Although no tenants have been announced, Dillards & Harkins Theatres have expressed an interest, and additional announcements regarding tenants are expected over the next few weeks. A project of this size could generate as many as 20,000 new jobs in the city of Surprise.

We won't benefit from these retailers until 2008 at the earliest, but we will have something to look forward to as we cope with the impending infrastructure preparation. This will include 20 miles of road, waterlines, & other utility requirements that must be in place prior to the construction phase. Ground-breaking could occur as early as March if negotiations go as planned.

Stay tuned as I continue to keep my eye on this project!

Read the article here.