The Phoenix metro area is gearing up for a transformative year, with numerous major projects slated to unfold, potentially reshaping the city's landscape for decades. According to a report by the Phoenix Business Journal, these developments range from high profile office-to-residential conversions to newly minted industrial parks, and even include the creation of a hotel and water feature destined to become a regional centerpiece.
Notable among the ventures poised to reach completion this year is One Camelback, a conversion project that struggled after construction began back in 2020. Now under the helm of Delphi Financial Group, the building was nearly 85% done when progress came to a sudden halt over the summer. Although a definitive timeline to finish the project remains unannounced, completion could be imminent. Meanwhile, Nestlé is nearing the end of construction on their sizeable manufacturing plant in Glendale, poised to start operations and to begin to fill approximately 350 jobs by the second quarter of the year. The VAI Resort and Mattel Adventure Park, with its slew of attractions, including a concert venue and a $40 million concert stage, also anticipates its first phase to open doors by the end of 2024.
Looking further into the future, anticipations spike for projects like the Procter & Gamble manufacturing plant in Coolidge, expected to break ground this year, and Kohler Co.'s manufacturing plant, which is ready to install equipment after reaching substantial construction completion last year. Another promising boost to the local economy is the proposed Ashley Furniture plant in Avondale, anticipated to start construction this year, bringing in 500 jobs.
Phoenix's economic prospects appear not just to grow, but also to diversify. Semiconductor packaging and testing campus by Amkor Technology in Peoria, and an array of battery manufacturing plants like those by LG Energy Solution and KORE Power, are beckoning a new era of tech and energy sectors to the Valley. On the industrial development front, expansive projects like Goodyear Airpark and LogistiCenter at Copperwing strategically aim to harness the region's growth potential. According to the Phoenix Business Journal, the former is already 63% completed with its first phase.
It's not just the industrial and tech spheres gaining traction – Phoenix is witnessing a renaissance of its shopping malls too. Heavy hitters like the Metrocenter, Paradise Valley Mall, and Fiesta Mall are set to undergo massive redevelopment projects, with the Metrocenter Mall's demolition scheduled for the second quarter and construction expected to roll out in the coming two years.
