Article Originally Posted By AZBigMedia On June 16, 2022
The redevelopment of the iconic mixed-use Papago Plaza, recognizable to many long-time area residents for its Pueblo-style design dating to the 1960s, is taking shape as the area’s demographics are growing and the plaza generates strong interest with multiple offers from restaurateurs and retailers.
Acquired by Scottsdale’s Pivot Development in 2015, Pivot has been exploring plans for the plaza for years. In the meantime, the economics of South Scottsdale have changed significantly. The average household income has increased to $92,153 within three miles and more than 60 companies have located across the street at SkySong, the ASU Scottsdale Innovation Center. The high traffic intersection sees about 62,000 vehicles per day, expected to increase substantially with trade area growth. Almost 4,000 residential units are currently under construction within two miles and 92,684 employees are located within a three-mile radius.
“Papago Plaza is a fantastic location known by many in the Valley as the southern gateway to the City of Scottsdale. Pivot planned the redevelopment to reflect the quality deserved for nearby Papago Park, ASU SkySong and the neighborhood surrounding the site,” said Lee Mashburn, president of Pivot Development. “The project establishes a restaurant and retail destination not currently found in South Scottsdale. Pivot and its partners felt it was important to create a sense of place for the residents in the area. We have responded directly to the requests of the neighborhood by attracting engaging restaurant concepts and a quality grocer and ensuring that Papago Plaza is walkable and easily accessible. Papago Plaza adds a sense of community and tells a story in the design.”
The new 13.29-acre Papago Plaza, located at the southwest corner of Scottsdale Road and East McDowell Road, features a five-story, 276-unit Alliance Residential apartment complex, SEVENTYONE15 McDowell, currently leasing along with a 22,000-square-foot hotel currently under construction, a 23,453-square-foot grocery store, and three buildings totaling 25,025 square feet with restaurants and retail. More than 12,000 square feet will be dedicated to restaurants with unique operators. Restaurant and retail tenants are expected to move in the second quarter of 2023.