Park Place Project presented at public policy meeting

FOUNTAIN HILLS, AZ–The FH Chamber’s public policy committee participated in a discussion about the Park Place project slated for the Avenue of the Fountains.

The project includes retail storefronts, apartments and a luxury retirement center. Park Place has been well documented by the FH Times, more information is available in the article Developer talks about Park Place and in the editorial The proposed park place.

Bart Shea, developer, discussed the key issues that will allow this project to move forward and a few obstacles.

Morning Star is the retirement center partner. The luxury residences are likely to range from $4200 to $6800 per month for about 111 people with various types of plans ranging from assisted to memory care.

Discussions with the Town of Fountain Hills are moving along and Shea expects the project on the June 11 planning and zoning agenda and the June 18 town council agenda.

Dialog with the Town and the financing partners is continuing for the retail and apartment projects but Shea assured the Chamber’s committee he is committed to making the entire project a reality. Retail leases will be discussed after the project is approved by the Town of Fountain Hills.

Shea estimates the retirement center’s economic impact at $1.7 million per year with thirty-five full time jobs and up to seventy total jobs.

When approved, the developer expects the apartments to attract a younger workforce and provide transitional housing for couples and small families that may not currently be able to afford to rent or buy in Fountain Hills.

With 230 units there will be a visible change in pedestrian traffic and use of the Avenue of the Fountains.

More information will be provided as this project continues.