This rendering shows the large scale of a project for which the city of Chandler has a complex multiuse development agreement. The Chandler City Council is likely to approve a time extension Thursday for the start date of construction of One Chandler, built on what the city has called “Site 7” downtown.
Local and national economic indicators take many forms. In downtown Chandler, regarding at least one project, the indication is that it’s easier to get some city approvals than it is to find financing.
The Chandler City Council is likely to vote Thursday, March 27 to approve a time extension for a developer to start construction of a major downtown multiuse development.
The developers, known as One Chandler Owner LLC, are asking for an extension until March 31, 2026 to start construction of a massive multistory office, retail and apartment building on about 1.7 acres. It would amend an agreement signed in late 2022.
Kim Moyers, the city’s cultural development director, spoke about the One Chandler development and took a few council questions at a March 24 study session.
“This is not expected, necessarily, but this is common throughout the Valley,” Moyers told council at the study session. “When this agreement was signed, we were still in the midst of COVID, and we’ve seen a lot of changes in the economy.”
Moyers said there have been challenges in the office-space part of the original agreement. She explained that with the need for office space drastically reduced in the post-COVID years, it’s tougher to find financing now for One Chandler and other developments that include at least some office space.
The agreement, approved by council in October 2022, calls for 290 units of housing, 13,000 square feet of office space, 16,000 square feet of retail space, and a self-contained parking structure.
With a housing shortage even more visible in 2025, Moyers said, the developer would use a time extension to, in part, examine adjustments that could be made to those numbers.
The building would wrap around a Jack-in-the Box restaurant, as its owner has no plans to sell or relocate.
The city has been trying to develop “Site 7” for some time.
A 2017 request-for-proposal led an agreement terminated in 2021, as the developer couldn’t meet deadlines, according to a staff report.
Another staff report states since the approval of the October 2022 development agreement, the One Chandler developer has met its first two deadlines: submittal of an administratively complete application and 100% of civil and building plans.
On Dec. 6 of last year, the developer requested a one-year extension to commence construction due to the shifts in the real estate market, including rising interest rates, escalating construction costs and “reduced investor confidence.”
The initial deadlines in the agreement were to start construction within 24 months, or October 2024, and to complete the project within 54 months, or April 2027.
The amendment to the 2022 development agreement would extend the start-of-construction deadline to March 31, 2026, and the completion date to March 31, 2030.
“This developer has been very communicative with the city, regularly letting us know about challenges that have come up,” Moyers said.
Jason W. Brooks News Editor | Chandler Independent
Jason W. Brooks joined Independent Newsmedia, Inc., USA, in July 2021 as an associate editor. After a year covering Buckeye, he has covered Chandler since the fall of 2022, in addition to assisting the Daily Independent throughout his time at INI.
Education: University of New Mexico, bachelor of arts in journalism and mass communication, print emphasis, English minor.
Random Fact: He and his siblings witnessed a Space Shuttle launch and landing in the same year in person, on opposite coasts.
Hobbies: Karaoke, bicycling and American Sign Language.
By 
Comments
No comments on this item Please log in to comment by clicking here