One step closer to creating a revitalized Capitol Mall
Changing occupant needs, aging facilities, unpredictable funding, and post-pandemic trends toward work-from-home greatly affected the Capitol Mall adjacent to Downtown Phoenix. As one of the fastest growing cities in North America, it could benefit from an expanded downtown, through new housing and commercial ventures, as well as improved safety and security.
The State of Arizona needed a partner to analyze state-owned properties, identify potential for disposition and redevelopment, and develop a preliminary plan to evolve the district into a series of new neighborhoods. Enter our Real Estate Strategies team to help.
We conducted market and site analyses as well as interviews with stakeholders and market participants. We also evaluated highest and best use/financial feasibility and recommended real estate strategy, master planning, and implementation related strategies to address potential funding, incentives, and partnerships.
Ultimately, the goal of this study is to help the State of Arizona understand the opportunities presented by its changing space needs and offset increasing operations and maintenance costs.
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