Glendale Stadium District gets 340 new apartments
A unique combination of the Arizona Cardinals, Phoenix Coyotes, Chicago White Sox and Los Angeles Dodgers make up the Glendale Stadium District. Located along the 101 between Camelback Road and Northern Avenue, developers are once again flocking to the Glendale Stadium District. With 1.5 million square feet of development, the area is prime for new multi-family residential housing.
Longtime Phoenix broker Ray Cashen of Cashen Realty Advisors, has sold more than $60 million of land in theGlendale Stadium District. Cashen just completed a deal with Fore Properties Company to buy 18 acres in Zanjero next to the Cabela’s, to build 340 apartment units. Fore broke ground last week. Fore Properties Company entered into a Joint Venture with Zanjero Glendale, LLC. The 18 acres was valued in the Joint Venture at a price of $4.5 Million. Cashen said the Westgate/Stadium District area is now ready for new apartments and he is working with several other multi-family developers in the area.
Cashen says there are multiple hotel, restaurant, apartment developers and entertainment venues scouring the area for locations. “You will see several very exciting announcements over the next six months; the Glendale Stadium District is hot again.”