Hines announced that it had razed the Elevation Chandler property in Phoenix, Arizona this month, making way for a new mixed-use development dubbed Chandler Viridian. During an event called “Elevating Chandler’s Economic Future" Chandler Mayor Jay Tibshraeny and Chris Anderson, managing director and local city leader for Hines, oversaw the demolition of the unfinished structure. GlobeSt.com chronicled the recent history of the property as such:
Cassidy Turley was awarded the listing for the property in 2010, and originally had it under contract in 2011, but due to the litigation that was the result of a flawed trustee sale that contract was canceled. Over the past four years the property has overcome numerous legal obstacles, including a fight that eventually led to an Arizona Supreme Court Ruling regarding ownership and the right to sell. Cassidy Turley put the property back on the market and through a bid process; Hines was selected and put the property under contract in November 2012.
"After following through with our commitment to remove the unfinished Elevation Chandler structure, Hines is thrilled to move forward with Chandler Viridian, an exciting mixed-used development that promotes walkability with a pedestrian promenade to the Chandler Fashion Center," Anderson said.
Chandler Viridian, a mixed-used development, will include a luxury multifamily complex, a six-story modern brand hotel, a central plaza with 250,000 square feet of Class A office space, and retail options along with a pedestrian promenade to the Chandler Fashion Center. Chandler Viridian is located in the heart of the Chandler retail entertainment district and is the last available site adjacent to the Chandler Fashion Center.
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