VISION | FACTS & FIGURES
Project Scope:
Palisene is expected to be a dynamic city within a city that represents the best in urban living, shopping and entertainment. Together with One Scottsdale, the highly anticipated developments will create the next retail core in north Phoenix within what is arguably the most equitable piece of real estate in Arizona. Palisene will be a 2,200-acre master-planned community centered on a distinctive 112-acre mixed-use development. Planned with four anchors, including Dillard's, Palisene's innovative shopping experience is projected to offer approximately 1 million square feet of fashionable shopping at the heart of the project. Complete with a retractable roof, Palisene will offer the best of both worlds. Though Palisene may be built as an enclosed center, the design will allow the desirable attributes of an outdoor center, including concrete sidewalks or pavers in the place of tile, plush landscaping on the interior and exterior and storefronts designed as typical street front shops. Fashionable living, executive offices, exquisite shopping, world-class dining, a signature boutique hotel and a destination resort will be blended to create a cosmopolitan and energetic 24/7 destination.
Location:
Strategically located on three miles of frontage along Scottsdale Road and Loop 101 in northeast Phoenix.
Timing:
Driven by market demand, the first phases of Palisene are expected to open in 2011-2012.
Architect:
Callison Architecture.
Trade Area:
Palisene will serve a trade area that is home to some of the most affluent households in Arizona, which will be reflected in the project's design and retail mix. As one of the most sought-after markets in the country, future development will be limited as trade area growth extends north to Tonto National Forest and east to McDowell Mountain Park. Palisene's trade area includes a highly affluent population of white-collar families. Education levels are exceptionally high; 74 percent of adults have attended college and 40 percent are college graduates. Forty-nine percent of the households within the trade area earn an average annual household income greater than $100,000.
About Westcor:
Founded in 1969, Phoenix-based Westcor is a wholly owned subsidiary of Macerich. The largest owner-manager of commercial properties in Arizona, Westcor's portfolio currently consists of 18 million square feet of retail space at 28 shopping centers, including 11 super-regional centers, 3 specialty retail centers and 14 urban villages. The company has set the industry benchmark for ground-up shopping center development, such as Chandler Fashion Center, Prescott Gateway Mall and Scottsdale Fashion Square.
Additional information about Westcor is available online at www.westcor.com.
