We’ve recently had quite a few inquiries as to what the construction is on the southeast corner of Oracle & 1st Avenue. Anyone driving through that corridor has noticed the land being cleared and it’s all in preparation for new luxury apartments & destination retail. This project is called “San Dorado” and is a joint venture between Kitchell Development of Phoenix and Mark Taylor, Inc. of Scottsdale.
The total project size is approximately 25 acres with the retail component being described as a unique, walkable shopping destination. This commercial space is being built by Kitchell and will occupy the southerly portion of the property. Expected to fill the space are smaller boutique stores trending towards an upscale market, however the initial tenants revealed have yet to fulfill that niche. Tenants announced so far are: CVS Pharmacy which purchased approximately 65,350 square feet, Panera (formerly known as Paradise Bakery) which leased 2,500 sq. ft., and Mattress Firm which has leased the adjoining 4,000 sq. ft.
On the north side of the development will sit a gated, luxury apartment complex of 275 units. The rental units are expected to have attached garages and be two & three-story complexes. The layout of the units will be sited to best take advantage of the incredible Catalina views nearby. A mix of 1-3 bedrooms units is planned with the sizes ranging from 770 square feet to 1,420 square feet. Amenities within the complex will be a lagoon pool, gym, sand volleyball courts, and a clubhouse. This apartment complex may come as a surprise to some with HSL already building a luxury apartment complex just up the road in Steam Pump Village near BASIS.
Check back here at TeamWoodall.com for more updates as they are made public.
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