Why is it that new devolpments in the Phoenix metro area appear to cost a billion dollars?
That's the price tag that Gaylord Entertainment wants to spend in building a hotel and convention center in Phoenix's east valley city of Queen Creek.
That's also the price tag that has been floated for a Rock-n-Roll theme park near downtown Phoenix.
The park is said to be considered for a 22 acre section of land around Celebrity Theatre.
If you don't know, Celebrity Theatre, it's a local landmark that is known for its intimate setting. No seat is further than 75 feet from the stage.
It's also "in the round" meaning the stage rotates... so no one is stuck watching the performance from a permanent side or back view.
Details are sketchy so far... Channel 15's site states that this will be a multi-use venue that could include hotels, restaurants and housing and office space.
Also- Phoenix's mayor, Paul Johnson appears to be very willing to make this happen.
So... if anyone makes the statement, "I hear Phoenix knows how to Rock-n-roll" ... they may have a billion reasons to agree.
I'll keep you posted about this one.
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When not blogging about real estate development projects in Arizona, Chuck Willman performs real estate in and around the Phoenix metro area. www.AZvest.com.
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Illustration Credit: "Band Silhouette 8" by Ben Smith.
Chuck do you think they will be able to get the financing in this climate? I see just about everything stopped around here.
John- That's the big question. Cities are always willing to make a huge project happen... the revenues would be quite acceptable, to say the least. However... will the developers be able to make it happen? I guess we'll see.
A billion here. A billion there. Before you know it, you're talkin' real money! :)
Bruce- Or stimulus dollars... whatever they look like.
Massive structures built in the desert regions always intrigue me...there seems to be an embedded puzzle, or puzzling questions...I guess environmental soundness is more of an issue these days. But music anywhere and everywhere is the great thing!
Chuck, I love those theaters in the round, we've had one for many years and I go quite often! I always enjoy the shows and hope they do build a rock and roll theme park in Phoenix--what a terrific addition to a great place.