The Rockefeller Group announced that it is moving forward with plans for a southern extension of Coronado Street in Chandler. The road will serve as primary access to Chandler 101, the mixed-use project the company is developing in Chandler’s prestigious Price Corridor.
“The Rockefeller Group is pleased to start this important phase in the development of Chandler 101,” said Mark Singerman, Regional Director, The Rockefeller Group. “We believe that the construction of the road to the project will aid us in securing one or more anchor office tenants.”
Chandler 101 will be located at the intersection of Loop 101 and Chandler Boulevard and will include 844,000 SF on 22 acres with 8- to 10-story office towers, restaurants, retail, and a parking structure on the Southeast corner of Chandler Blvd. and the 101 Freeway.
Arizona State University announced in 2011 that it will locate its newest W.P. Carey Evening MBA and Custom Corporate MBA programs at Chandler 101.
According to Christine Mackay, Economic Development Director for the City of Chandler, there is a tremendous need for additional Class A office space near the 101 Freeway and Chandler Boulevard.
“We have been approached by a number of companies looking to locate in Chandler but right now we do not have the contiguous Class A office space available that they require. We are confident that Chandler 101 will serve that need,” Mackay said.
The Coronado Street extension not only will aid The Rockefeller Group in securing an anchor tenant for the project, but it will serve as a shortcut for commuters looking to head east on Chandler Blvd. and avoid the northbound Price Road/Chandler Blvd intersection.
The intersection of Loop 101 and Chandler Boulevard has one of the highest traffic counts in the Southeast Valley of the Phoenix metro area. The Loop 101 freeway carries more than 120,000 cars per day, and Chandler Boulevard and Price Road combined have more than 60,000 per day.
“Extending Coronado Street south and connecting it to Price Road has been part of the city’s transportation plan for more than five years,” Mayor Jay Tibshraeny said. “The Rockefeller Group will invest more than $3 million to construct the road. We’re excited that this road will aid the congestion at Price and Chandler while speeding up the timeline for breaking ground on Chandler 101.”
Singerman said that in the first half of 2013, The Rockefeller Group will work with the city staff and its team of consultants including the architect, civil engineer, landscape architect, geotechnical engineer, dry utility consultant and traffic engineer to design the road. He expects to name a general contractor during that time and break ground on the extension by summer.