2015 economic development predictions: Tempe projects, embarrassing Arizona, light rail heads west

___MAIN 1112

_ Impossible397579_10151183944446852_596995354_n











If you think you can or you think you can’t, either way you are right.




Jan 1, 2015, 12:07pm MST UPDATED: Jan 2, 2015, 6:56am MST

Eric Jay Toll Reporter- Phoenix Business Journal

It isn’t often that a reporter is able to play fortune teller. There’s good reason for that. 50 weeks from today, I’ll have the privilege of looking back on my prognostications and scoring my fortune-telling skills. As a hint, I’d suggest that you not head to Vegas with any of these looking for good odds on any of these.

Economic Development

  1. Too much development on Tempe Town Lake.We’re talking 2015 predictions, but I’m with my colleague, Mike Sunnucks, on this one. With 20 million square feet proposed over the next 20 years, there is no way that 1 million more square feet of office is going to be developed on the shores of Tempe Town Lake. The multitude of projects are not going to come out of the ground as planned. My vote is with the Arizona State University Athletic Facilities District progressing through its planning stage. In fact, having talked with Catellus and planner MVE + Partners about the project, I believe we will see the plan to develop the 10 million square feet on ASU land. My prediction: Liberty Property Trust will put up another building at Liberty Center at Rio Salado (Priest Drive and Rio Salado Parkway) and Douglas Wilson Cos’ Mill+Rio project at Mill Avenue and Rio Salado Parkway will break ground. I’d even consider this a win if the groundbreaking is in the first quarter of 2016.
  2. The Legislature will tarnish Arizona’s brand once again.With the increased tea party majority at the state Capitol and an unwillingness to recognize that there is a world on the other side of the Colorado River and White Mountains, I predict several bills will be introduced that are Arizona job-killers. There’s already talk of a repurposed Senate Bill 1062 making its way through the Arizona Legislative Council. These types of bills, while they may pander to various political persuasions, make Arizona look bad in the eyes of businesses embracing diversity in workforces. My prediction: At least five legislative opportunities to embarrass the state.
  3. Education will get the short shrift.With a $500 million shortfall on the balance sheet for the current fiscal year, and a $1 billion shortage next year, the Legislature will cut school spending by the amount the court has ordered it to pay in illegally cut education financial support. The governor’s office will continue useless appeals and litigation at taxpayer expense to delay the inevitable. No leadership will come from the Superintendent of Public Instruction, who will be honoring her campaign promises to stop public education advancement. My prediction: Arizona schools will shine again showing that they can succeed despite the best efforts of lawmakers to kill public education.
  4. Apple Mesa facility to come back online.This one gets me strange looks, but the 1 million-square-foot former GT Advanced Technologies (OTC: GTAT) sapphire glass facility in Mesa will either be proven to have been built on the back of a dragon or its feng shui will be fixed. My prediction: Apple will announce that it’s going to do something economically productive with the space.

Banking and Finance

  1. Look for more mergers and consolidations in 2015.OK, I’d take this one to Vegas because the real source of my prediction is Arizona Bankers Association Paul Hickman. He told me that the Dodd-Frank regulations are going to trickle down to community banks. Implementation of those regulations are going to onerous and expensive for small banks. Although there are companies that help small banks with the regulations, the requirements are mighty pricey. As a bonus: Small bank executives are going to ask Congress for relief in proving adequate capital reserves under expensive new rules when the results are obvious under the less complex current regulations.
  2. Downsizing retail bank space.My prediction: Look for banks to put more commercial bankers on the streets with mobile equipment to meet with customers as opposed to sitting in mostly vacant retail space waiting for customers to come through the door.


  1. The Loop 202 South Mountain Freeway will break ground.It’s only three decades in the making. The last piece of freeway connection from Interstate 10 at around 56th Avenue to the Loop 202 and I-10 interchange in Chandler will clear environmental litigation and be ready to go. My prediction: A design-build-maintain contract will be awarded and the project will break ground before year’s end.
  2. Funding will come through for the next light rail extension.Phoenix is pushing three extensions, Gilbert and Mesa want one, Scottsdale is still living with the last century’s transit plans, while Tempe keeps scoring along the light rail line. Funding will come through to start building the next extension of the Metro system. My prediction: The Phoenix West extension will get the first bucket of new dollars. It’s time to extend light rail into the heart of the heaviest potential users west of downtown Phoenix.

Eric covers economic development, banking and finance, infrastructure, transportation and utilities.

I am actively looking to build relationships with Real Estate Investors and Owner / Users for Phoenix  –  Scottsdale   –  Tucson   –  Maricopa County  – Pima County  –  Pinal County  –  Cochise County  –  Santa Cruz County   –Yavapai County  –  Gila County   –   Arizona ,  USA      

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com




Timeline of Phoenix, Arizona history




Phoenix, Arizona




Facts of Arizona – year 1848 to 2013




Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.







View my listings and my profile at:





What is a CCIM?


Join My Mailing List



Please go to my web-site and get all the newsflashes and updates in Commercial Investment Real Estate in Phoenix and Commercial Investment Properties in Phoenix daily





Check out my professional profile and connect with me on LinkedIn.



Follow me on Facebook:



Follow me on Twitter:




Follow Me on Google+



Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 20 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.




we are at on the a rise of the cycle in Commercial Real Estate.  so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.


If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you. Obviously I am also in this to make money, but it could be a win-win situation for all of us. 


Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207 or Office:480-948-5554




Thank You


Walter Unger CCIM

Associate Broker,  West USA Commercial Real Estate Advisers

7077 E. Marilyn Road, Bldg 4, Suite 130

Scottsdale, AZ 85254

Cell:      520-975-5207   

Office :  480-948-5554

Fax: (480-658-1172  



View my listings and my profile at:





a little about me and my expertise – video


commercial-investment real estate adviser-land specialist




What is a CCIM?



Delivering the New Standard of Excellence in Commercial Real Estate 


  • Commercial Real Estate Scottsdale
  • Commercial Real Estate Phoenix
  • Commercial Real Estate Arizona
  • Commercial Investment Properties Phoenix
  • Commercial Investment Properties Scottsdale
  • Commercial Investment Properties Arizona
  • Land Specialist Arizona
  • Arizona Land Specialist
  • Land Specialist Phoenix
  • Phoenix Land Specialist
  • Land For Sale Phoenix
  • Land for sale Arizona
  • Commercial Properties For Sale Phoenix
  • Commercial Real Estate Sales Phoenix
  • Commercial Properties Phoenix
  • Commercial Properties Arizona
  • Commercial Land Specialist Phoenix
  • Commercial Land Phoenix
  • Multifamily land Phoenix
  • Retail Land Phoenix
  • Industrial Land Phoenix
  • Land Commercial Phoenix
  • Land Retail Phoenix
  • Land Industrial Phoenix
  • Land Multifamily Phoenix
  • Industrial Land for sale Phoenix
  • Land Industrial
  • P
  • Investment Real Estate


Disclaimer of Liability

The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.