The next step has been taken in the development of Carefree’s northeast corner, which is intersected by Carefree Highway and Cave Creek Road.
At November’s monthly town council meeting, the council voted 6-1 to allow Mayor John Crane the right to exercise a retail development tax incentive agreement between the town of Carefree and SimonCRE.
The proposed development includes roughly 90,000 square feet, restaurants, retail shops and a grocery store.
Joshua Simon, founder and CEO of SimonCRE, announced at the meeting he already has an executed lease with Whole Foods, Cold Beer and Cheeseburgers and Boot Barn.
“This is exciting in my opinion,” said Carefree Planning Director Stacey Bridge-Denzak. “I’ve been working on this since the 2018 entitlement. In my opinion, this is the development or the kind of commercial center that the town had envisioned when it was looking to rezone that property.”
Simon is the fourth developer attempting to work on this site. Carefree Mayor John Crane is excited and confident.
“There’s always risk in everything we do, but this has been looked at by our attorneys,” he said. “Staff has reviewed it. We’ve had a third party take a look at it and evaluate those risks.”
He added the risks are “palatable.”
The project will have six entry points and a parking lot, which exceeds town requirements.
The tax agreement includes a maximum incentive of $11.6 million. Additionally, for every $100 in qualifying town retail sales tax, $51 is kept by the town and $49 goes to a potential developer rebate.
Councilmember Colleen Rose-Scurti said there is no risk for the town with this project. Per the agreement, the town doesn’t lose any money if it doesn’t work out. The developer doesn’t get paid unless he performs.
That being said, she is confident the development will work.
“I think that this developer is a much stronger developer than what we had previously,” she said. “I think the product we’re going to get is a higher quality product.”
Town Administrator Kristen Krey is really excited about the project.
“This is an opportunity to move forward with development of a prominent commercial property that has remained vacant for many years,” she said. “The proposed agreement addresses significant infrastructure challenges while establishing a performance based framework for economic development.”
Simon said this development means a lot to him because he grew up down the street from the site. He is naming the project “Craig’s Crossing” in honor of his father.
“This project is more than just a project for me,” he said. “It’s part of my family’s identity and that’s why I’m calling it Craig’s Crossing. In honor of my dad who has made me the husband, father and CEO that I am today.”
This is a difficult plot to do construction on for multiple reasons. There is a wash running through the site, the walls border Cave Creek and Scottsdale and there is a change in elevation.
Simon made a commitment for 60,000 square feet out of the gate through the tenants he has already talked to.
Councilmember Diane Lloyde Roth, who said she wants to see the corner developed, has some doubts about the project. She believes some of the projected numbers might be higher than she they actually will be.
“I don’t want us to be basing this on happy numbers as opposed to realistic numbers,” she said.
She added she thinks the town is going to be “number one” in tax incentive which she’s concerned about.
Roth was the only council member to vote against the agreement.
The next town council meeting is 5 p.m. Tuesday, Dec. 1, in the Carefree Town Council Chambers, 33 Easy Street.
Reporter Zev Black can be reached at zblack@iniusa.org. Please submit comments at yourvalley.net/letters or email them to azopinions@iniusa.org. We are committed to publishing a wide variety of reader opinions, as long as they meet our Civility Guidelines.
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