Hines, the international real estate firm, recently sold Chandler Viridian’s hotel pad to Concord Hospitality Enterprises Company of Raleigh, North Carolina, to develop a Cambria Hotels & Suites. The price was not disclosed.
In addition to the modern brand hotel, Chandler Viridian will include a central plaza with 240,000 square feet of Class A office space, a luxury multifamily complex, retail options and a pedestrian promenade to the Chandler Fashion Center. Chandler Viridian is located at the northwest corner of the Loop 101/Loop 202 interchange in the heart of the Price Corridor in Chandler.
“After a lengthy process to turn the former Elevation Chandler site into our premier mixed-use project, we are invigorated by the progress of the development and also the quality of Chandler Viridian’s hotel brand and upscale apartments,” said Chris Anderson, managing director and city leader for Hines.
The Cambria Hotel & Suites will feature between 130 and 150 suite style rooms with amenities including a pool, sundeck, breakfast bar and business meeting space.
“We are pleased to be a part of the Chandler Viridian project and deliver a first class hotel that will take advantage of the walkable shopping and dining amenities in the area for our guests. This hotel will be a great addition to our national portfolio,” said Mark Laport, CEO of Concord Hospitality.
Alliance Residential Company of Phoenix has broken ground on the 335-unit, Class A multifamily property called Broadstone Fashion Center. The high-end residential community will include a mix of studio, one bedroom, and two bedroom units with attached direct access garage parking for many of the units. Amenities for the property include a large fitness center, a pool with sun deck, outdoor grills, and resident gathering spaces. The first units for occupancy will be delivered in 2016.
“Broadstone Fashion Center will be a premier property in the East Valley with significant walkable amenities and high-quality employers in the area. Our future residents will enjoy first-class designs, finishes and property features that are consistent with our other recently developed communities such as Broadstone Lincoln and Broadstone Waterfront in Old Town Scottsdale,” said Ian Swiergol, managing director for Alliance Residential.
“The City of Chandler is excited to see development at this high profile location get underway and Hines is quickly fulfilling the vision we hoped for. We believe Chandler Viridian is a great mixed-use project that will add to the outstanding quality of life our residents and businesses already enjoy,” said Chandler Mayor Jay Tibshraeny.