Tag Archives: Price Road Corridor

Symphony Apartments

Symphony Apartments sell for $35.5M

CBRE has completed the sale of the Symphony Apartments, a 234-unit apartment complex located at 2225 W. Frye Rd. in Chandler, Ariz. The multifamily asset commanded a sale price of $35.5 million. The property was 95 percent leased at time of sale.

Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office represented the institutional seller. The buyer was MIG Real Estate of Newport Beach, California.

The Symphony Apartments offer an excellent infill location in the heart of Chandler’s major employment and tech-hub. The property benefits from the strong corporate employment located to the southwest in the Price Road Corridor, as well as its adjacency to Chandler Regional Medical Center,” said CBRE’s Gunter. “Symphony also offers excellent access to neighborhood retail options as well as proximity to Chandler Fashion Center.”

Built in 1999, the Symphony Apartments offers one-, two- and three-bedroom floor plans, nearly half of which have recently undergone significant interior renovations. Community amenities include two resort lagoon-style pools with spa, wood-burning fireplace, veranda with bar seating and televisions, and stainless steel BBQ grills; clubhouse with wet bar, coffee station, and conference room; and complete fitness center including a private yoga room.


SRP Proposes New East Valley Power Facilities

The growing demand for electricity in the East Valley area known as the Price Road Corridor has prompted Salt River Project to initiate a process to site new 230-kilovolt (kV) power lines and new 230-kV substations that will improve electric service reliability in the area and serve large commercial and light industrial customers in south Tempe and southwest Chandler.

The Price Road Corridor is adjacent to Price Road in south Tempe and Chandler.  There are a number of large commercial customers currently in the area that require large amounts of electricity to operate, and SRP is anticipating a significant increase in the number of businesses there in the near future.

According to SRP’s Tom Novy, the project manager, the land available for development in the corridor makes the area a power delivery “hot spot” and current transmission capacity in the area will not be sufficient to serve projected growth in the future.

The first phase planned to be in service by May 1, 2016, would improve SRP’s ability to keep pace with current and future electrical demands in the area and allow for much-needed economic growth.  The project also would provide benefits for SRP customers in a broader area by adding the infrastructure necessary to increase reliability and bring additional supplies of energy to the region.

“The industrial growth taking place in the Price Road Corridor is creating new economic development opportunities that benefit the Chandler community and the entire state,” said Mike Hummel, SRP’s chief Power System executive.  “As Arizona emerges from the recent recession, SRP can help facilitate economic growth by ensuring that the electrical infrastructure necessary for this type of development is in place and ready to serve new industrial customers.”

The Price Road Corridor 230-kV Project includes: a new single-circuit 230-kV power line to connect the Schrader Substation, located just east of Arizona Avenue and Ocotillo Road, with a new substation (RS-28) in the southern portion of the corridor; a new double-circuit 230-kV power line that will connect the Knox Substation, located north of Pecos Road west of 56th Street, with a new 230-kV substation (RS-27) in the northern portion of the Price Road Corridor.  The two new substations will be connected by a double-circuit 230-kV line.  A single-circuit 230-kV power line will also be needed between the existing Knox Substation and the Kyrene Substation, located on the northeast corner of Elliot and Kyrene roads in Tempe.

As part of the process to site the facilities, SRP will initiate an extensive public process that will include three rounds of public open houses.  The following open houses are an opportunity for the public to review informational displays and discuss the project with SRP team members:

Tempe History Museum

Tuesday, Jan. 29, 4 – 7 p.m.

809 E. Southern Avenue


Holiday Inn

Wednesday, Jan. 30, 11 a.m. – 2 p.m.

1200 W. Ocotillo Road



Holiday Inn

Wednesday, Jan. 30, 4 – 7 p.m.

1200 W. Ocotillo Road


According to Novy, no routes for the power lines or the location for the new RS-27 substation have been determined.  He said all alternatives will be considered, including discussions with the Gila River Indian Community, for possible routes located west of the Price Road Corridor.

The public process will culminate with a hearing before the Arizona Power Plant and Transmission Line Siting Committee.  A final decision on whether to grant a Certificate of Environmental Compatibility for the project will be decided at an open meeting of the Arizona Corporation Commission.

For more information on this project and SRP, visit www.azpower.org and www.srpnet.com.

SRP is the third-largest public power utility in the nation, serving more than 950,000 customers in Maricopa and Pinal counties.