A proposed $200 million commercial development would bring 260 hotel rooms, office space for an estimated 1,600 employees and shops to Chandler’s Price Road corridor in the next couple of years.
Scottsdale-based developer Lees Mayfield Associates plans to break ground later this year on a pair of four-story office buildings and two Marriott hotels at the southwest corner of Price Road and Loop 202.
The 20-acre piece of land is one of the last to be developed along the city’s growing Price Road employment corridor, said Bryan Taute, senior associate with commercial brokerage CB Richard Ellis.
With office projects under way in the surrounding area, developer Lees Mayfield’s “timing is going to be excellent,” Taute said.
The area’s connection to loops 101 and 202, growing job base and nearness to Chandler Fashion Center make it an ideal location, he said.
Indiana-based White Lodging Services is partnering with Lees Mayfield on the hotel portion of the project, which will include a 150-room Courtyard and 110-room Fairfield Inn — both by Marriott.
Chandler has 1,800 hotel rooms in planning stages, which will double its current capacity, city economic development specialist Harry Paxton said.
About 70 percent of those are proposed within one mile of where the freeways intersect, Paxton said.
“Having it at the 101 and 202 is a great location. Obviously they’re in the midst of a wealth of employment,” he said.
Most will be built in the next three to five years with the first wave hitting in the summer or fall of next year, he said.
That will hopefully help attract business travelers and other Chandler visitors — who now stay in surrounding communities, such as Tempe and Phoenix — back to the city, tourism marketing director Kimberly Janes said. “It’s a sign the tourism industry in Chandler is thriving,” Janes said.
Construction on the project, called Chandler Echelon, is set to begin in late 2007 with the first of the 185,000-square-foot office buildings, Taute said. Buildout is expected to be about 10 months with construction of the second building dependent on how rapidly the first is leased out, he said.