Phoenix OKs infrastructure deal to pave path for 217-acre corporate office development

Phoenix City Council approved a deal enabling Mortenson Co. to develop commercial office space on a 217-acre property in north Phoenix, a site previously sought by the Arizona Coyotes. The agreement, finalized on August 27, requires Mortenson to finance and build the necessary public infrastructure. This marks a significant shift in the use of the vacant land, which has remained undeveloped for years. Local officials expect the new office space to stimulate economic growth and job creation within the community.

The city has focused on attracting business developments to bolster its economy amid ongoing urban expansion. Additionally, the project will likely enhance the area's appeal to potential businesses and investors. With the demand for office space rising in Phoenix, this development comes at a crucial time. The deal reflects local leaders' commitment to fostering economic opportunities and revitalizing underutilized land.