|
|
| Project Scope: |
Prasada is a new and refreshing master-planned community where living, working,
shopping and entertaining will blend seamlessly across 3,355 acres in the rapidly
growing community of Surprise. More than 1,200 acres will be dedicated for
neighborhood and power centers, an autoplex and other complementary retail and
commercial uses.
The 303 AutoShow at Prasada, a master-planned autoplex encompassing 180
acres, contains 10 sites and is being developed by the Staubach AutoGroup.
|
| Project Vision: |
Derived from the Sanskrit word meaning “grace” or “peace,” Prasada will break tradition
with its innovative master-planned community that provides renewal for residents and
stakeholders alike. Using water’s characteristics as a guide, Prasada’s community plan will
encourage movement with its trails and open spaces, while various design elements, such as
architecture and streetscapes, will create an atmosphere of serenity and refreshment.
Prasada will be a dynamic community designed to stimulate the senses with architecture,
activities and lifestyle pursuits. Masterfully planned streetscapes, trail systems, family oriented
communities and open spaces will provide residents and visitors with a sense of renewal, and the
project’s unique architectural design will be carried throughout all aspects of the development,
reflecting the fluid and refreshing nature of water. Reflecting the community-oriented nature of
the development, Prasada’s streetscapes and pedestrian facilities will be designed to provide easy
navigation and encourage interaction.
A unique collaboration between Suburban Land Reserve, Fulton Homes, Westcor, WDP
Partners and RED Development, the 3,355-acre master-planned development will bring
hospitality, entertainment, medical, employment, retail and residential to the rapidly growing
community of Surprise. At the core of the community will be a regional shopping destination
unlike any other – more than 1,200 acres of offices, hospitality uses, an autopark, a hospital and
adjacent medical offices, shopping, dining and entertainment, including a uniquely designed
regional shopping center.
Designed, built and maintained to complement the City of Surprise, Prasada’s
architecture and amenities will preserve the city’s charm while simultaneously reflecting the
regional hub that it is fast becoming. True to the city’s vision for the future, Prasada will meet and
exceed residents and visitors expectations for the Northwest Valley. An unparalleled community
where Arizona’s natural beauty, active lifestyles, the importance of family, and the excitement of
an urban core intersect, Prasada will be a destination beyond expectation.
|
| Location: |
Strategically located on both sides of Loop 303, between
Waddell Road and Cactus Road in Surprise, Ariz.
|
| Project Team: |
Because the master-planned development will incorporate many
different components, the landowner has selected a team of experts to work on the master planning
and entitlement process. Beus, Gilbert is overseeing the entitlement process with Westcor, RED
Development, Suite Six Architect and Planning, Butler Design Group, Fulton Homes,
CMX, Greey Pickett and Kimley-Horn.
|
| Timing: |
Prasada completed the annexation and rezoning process in fall 2006. The next
phase, starting in early 2007, entails creating infrastructure.
|
| Trade Area: |
The trade area for Prasada will extend from Pinnacle Peak on the north, Northern
Avenue to the south, 195th Avenue to the west, 115th Avenue to the east. Once
predominantly an area populated by retirement communities, future growth is
anticipated to be younger families, as the availability of land and resources give rise
to new housing developments. The 10-mile radius of the trade area currently
supports 290,334 people, and the population is expected to reach 351,420 by 2011.
The area enjoys a high rate of home ownership (85 percent), with a modest
household size of 2.4. The average age of trade area is relatively mature, primarily
due to past history of retirement destination. Planned development of young family
communities will have the most dramatic impact going forward.
The average household income is along U.S. benchmarks at $58,900, although the
shift in demographic profile should increase this average. White-collar jobs
predominate at 62 percent with one quarter of the population having a college
education.
|
| About Westcor: |
Founded in 1970, Phoenix-based Westcor is a wholly owned subsidiary of Macerich. The
largest owner-manager of commercial properties in Arizona, Westcor's portfolio currently consists of
18 million square feet of retail space at 39 shopping centers, including 11 super-regional centers,
three specialty retail centers and 22 urban villages.
Westcor has set the industry benchmark for ground-up development of shopping centers, such as
Chandler Fashion Center, La Encantada and Scottsdale Fashion Square. The company's leadership has
contributed to the Valley of the Sun's high quality of life and its reputation as a world-class resort
and shopping destination.
For more information, visit www.westcor.com.
|
| About RED Development: |
RED Development, formed in 1995, develops, leases, manages and owns shopping centers in
rapidly growing communities throughout the Midwest
and Southwest. The company primarily focuses on open-air, regional shopping centers, known as lifestyle
centers. Additionally, the company has experience in the development of power and community centers. RED
has more than 25 centers open, in development, or under construction, totaling 12 million square feet.
Within the industry, RED has earned a reputation for delivering as promised and creating strong relationships
with its tenants, communities and business partners. RED has more than 100 employees and is co-headquartered
in Scottsdale, Ariz., and Kansas City, Mo.
To learn more about how RED is "REDefining" retail development, visit
www.reddevelopment.com.
|
| About Fulton Homes: |
Headquartered in Tempe, Ariz., Fulton Homes is one of Arizona's largest
homebuilders and has been creating unique communities and high-quality homes for families for more
than 25 years. Fulton Homes. You're proud to own, we're proud to build.
To learn more about Fulton Homes, visit them on the Web at www.fultonhomes.com.
|
| About Staubach AutoGroup: |
Staubach AutoGroup is a national, specialized industry group within
AutoGroup: Staubach Retail that provides automotive site selection and acquisition services,
automotive retail real estate disposition, construction management and sale leaseback
services for dealers, manufacturers and property owners. The group is also
the largest developer of auto parks in the country. Additionally, Staubach’s Design
& Construction Consulting Services provides overall construction management for
automotive retailers across the nation with project experience ranging from multimillion
dollar new dealership construction to interior remodels, and geographically
includes work in almost all 50 states, Mexico, Canada and South America.
For more information about Staubach AutoGroup, visit www.staubach.com. |
|
