With the recent downturn of the economy Northwest Tucson has been especially hard hit. Here's a bullet summary of projects in flux:
- The development of Saguaro Springs is in a state of flux (read more about that here)
- Gladden Farms, a master-planned community in Marana, has ground to a halt and a planned Fry's shopping center has yet to break ground. The lender has filed a notice of trustee's sale but Marana developers are confident they can find another lender and continue development. (read more about Gladden Farms status here)
- The Marana floodplain issue has yet to be put to rest but Marana town officials assure the community that FEMA appears to have rescinded their original decision to place most of Marana in a floodplain and instead will issue revised maps showing only part of Marana in a floodplain. (read more about Marana floodplain issue here)
- Red Rock Village, a master-planned community being developed by Pulte homes thirty miles of NW Tucson, has also been hit by the housing crisis. Originally slated to consist of 4,000, slackened demand has been apparent. Just last week I received an email stating that a ~1200sqft floorplan had a $99,999 base price!
- Marana Spectrum, a 1.3 million square foot "power center" planned just east of I-10 and Camino de Manana, was planned to open in 2010 to coincide with the completion of the I-10 widening effort and the development and opening of the Twin Peaks / Camino de Manana I-10 interchange (which doesn't currently exist). I saw construction start on the new freeway exit last month and it appears to be continuing, but I haven't seen much work done yet on the Marana Spectrum site.
I hope these projects can continue and help bust us out of our funk. The Twin Peaks interchange will be especially helpful to Dove Mountain residents who have to trek all the way over to I-10 for freeway access.
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Michael Krotchie - Realtor®
Coldwell Banker Residential Brokerage, NRT LLC
6970 N. Oracle Road, Suite 100 Tucson, AZ 85704
520.404.4996 -- Mobile
520.544.4545 -- Office
520.844.6699 -- Fax
http://www.michaelkrotchie.com
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