On Thursday evening, the Chandler City Council unanimously gave the final approval for the Douglas Allred Company’s development project in the Price Road Corridor, Park Place II. The Chandler City Council approved of the final rezoning for the 928,000 square foot employment business park campus, which will create nearly 10,000 jobs.
With the receipt of final approval from the Chandler City Council, construction is currently projected to commence next year on what will be one of Arizona’s largest office park projects. Infrastructure improvement plans will be underway for Phase One soon.
“We look forward to starting construction on Park Place II,” said Allred CEO David Allred. “The unanimous support we have received from the Chandler City Council and local Chandler residents for Park Place II will ensure that Chandler remains the premier center destination for corporations looking to do business in the Valley.”
Allred’s Park Place II project will be multi-faceted and include a conference center hotel that will serve as the “HUB” of the master campus plan. The Park Place II development will bring approximately 928,000 square feet of office and employment space, and will flank both sides of Price Road with high value employers and will expand upon what the corridor’s most prolific developer has already built on Price Road from the 202 Freeway down to Willis Roads, Park Place I. Park Place II will ultimately bring Allred’s total development space in Chandler to nearly three million square feet. Park Place I’s portfolio includes six office buildings with 2,400 employees that are fully leased.
According to a recently published economic and fiscal impact report from Scottsdale-based Elliott D. Pollack & Company, Park Place II will have both one-time construction impacts as well as long-term benefits for the Chandler community. Once completed, Park Place II’s total annual economic impact is estimated at $1.4 billion in direct, indirect, and induced economic activity.