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CG mayor enlightens EDGE on pending Phoenix Mart project
BY ROBBY GAL
Staff Writer
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| Staff photo by Robby Gal, Casa Grande Mayor Bob Jackson outlines the progress and timeline for the Phoenix Mart on Thursday, Jan. 19 at Robson Ranch for the EDGE (Economic Development Group of Eloy) monthly luncheon. |
On Thursday, Jan. 19, Mayor Bob Jackson of Casa Grande spoke at the monthly Economic Development Group of Eloy (EDGE) luncheon at Robson Ranch, and provided the group with a clearer picture of what the Phoenix Mart will be bringing to the area and when to expect it.
“A lot of people think this is just another mall,” Jackson said. “And that couldn’t be further from the truth. “
Jackson reminded the group about the success of two other similar style projects abroad that were extremely successful: One of is located in Dubai and the other in a small town near Shanghai.
The idea behind the Phoenix Mart is for small and midsized businesses and entrepreneurs to market their goods and services on the international level.
The Phoenix Mart Project is a little over a million and a half square feet. The project is set for just east of Overfield Road on Florence Blvd., on the northeast corner of the intersection.
Currently, there are three major tenants at Phoenix Mart signed up for 900,000 square feet of space. Yakool, a company that provides furnishings for four- and five-star hotels around the world, signed its leases in China, according to Jackson, which stipulated that they had to pay the first year’s rent in advance.
The three tenants create space, according to Jackson, for a business segment and that investor in turn is supposed to go out and find small businesses to move into the spaces. Those spaces will be in 800 square foot multiples (800, 1600, 2400, etc.).
“They aren’t the big box anchors you see in most retail stores,” Jackson said.
In addition to the 900,000 square feet of business space, an additional 200,000 square feet will be used for convention space. The plan is to have something going on every month and to tie into some of the bigger conventions that go on in Phoenix and even Las Vegas.
Jackson explained that with foreign investors being enlisted under the federal government’s EB-5 immigrant investor program, they are required to stake an investment of at least a half-million dollars each.
Investors obtain a temporary green card that allows the investor, his or her spouse, and any children under 21 to come to the U.S.
Each investor has to create 10 jobs for workers who already have legal status in the country and already are in the workforce.
Jackson said the Casa Grande City Council has approved the first phase of Phoenix Mart’s 20-year Master Plan.
Developers are expected to break ground in the second quarter of 2012, with an opening early in 2013. Phoenix Mart will have a distribution center, e-commerce platform and catalog sales support to allow roughly 2,000 vendors to sell merchandise worldwide. The Phoenix Mart will also include retail, dining and entertainment for the public.
In a study commissioned by the developers of the Phoenix Mart, they expect more than 7,900 direct and indirect jobs. The $150 million construction would bring about $4.5 million in construction taxes to the city, according to Jackson.
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1opinion wrote on Jan 27, 2012 11:00 AM:
" Gee! I How wonderful to attend a convention in Western Pinal County, miles from any hotel. "
phx214 wrote on Jan 27, 2012 11:39 AM:
" @1opinoin: Hey CG has at least two non seedy hotels...you just have to watch out for the dead bodies that pop up every now and again. "
justme wrote on Jan 31, 2012 1:00 PM:
" The mayor is selling snake oil and, unfortunately, there are too many rubes who will buy it. A convention center? In the middle of nowhere? Yes, like it or not CG is not the hub of Arizona convention goers. This is another project doomed to fail. Ever looked at the Promenade at night? Deadsville.
By the way, which landowners will get rich from this deal? "
By the way, which landowners will get rich from this deal? "
jschwendler wrote on Feb 1, 2012 1:14 PM:
" I will take a positive attitude toward all of this. But, it does seem questionable. In order for businesses to succeed, customers must have money to spend. That doesn't seem to be the case right now. A convention center in the middle of the desert does seem far-fetched. Even Phoenix admits it can't rival Las Vegas for convention business, and it has expanded its Conv. Center to try and do so. We're 35 miles from south edge of the Valley. How are the conventioneers to arrive, and where will they stay? I look at downtown Casa Grande, and don't see much in the way of solid businesses generating lots of tax dollars. The Promenade Mall gets busy only at Christmas. Truth is most folks still shop at a big box store in town. I just don't understand where all the business is going to come from. But, I wish the project well. "
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Chiefeng wrote on Jan 27, 2012 5:06 AM: