Two Phoenix Offices to be Converted to Residential

Century Plaza, a 15-story tower in downtown Phoenix, will be converted to condominiums, while the CamelSquare office park will be razed to make way for a mixed-use residential and retail development in the Camelback Corridor.

Summit Builders Underway on Century Plaza Conversion in Phoenix

Summit Builders Construction Co. has commenced work on Century Plaza, an office building to condo conversion, located at 3225 N. Central Ave. in Phoenix for Windsor Century Plaza LLC., an Equus Development Corporation project.

Century Plaza is the conversion of an existing 225,874-sq.-ft., 15-story office tower to luxury condominiums. When complete, the condominium development will provide 147 units, including five penthouse suites, ranging up to 3000-sq.-ft. in size. The first floor incorporates a wine bar and coffee house in addition to a 6,000-sq.-ft. restaurant.

Amenities provided to the residents will include a full time concierge, security, exercise facility and resort style pool area with cabanas. An existing four-level parking garage will be linked to the second floor level of the building by an enclosed pedestrian bridge.

Demolition work began last month and is expected to be complete early first quarter 2007. Summit Builders will begin new construction on the first and second floors to provide for new underground utilities. Following that, construction will move to the 15th floor and progress downward, according to Summit Builders project executive, Karl Nicol. Resident occupancy is scheduled for late third quarter 2007.

Summit Builders provided 9 months of preconstruction services for the Century Plaza project. Humphreys & Partners Architects is the project architect for the $32 million conversion.

Duke Realty Developing Industrial Park

CamelSquare at 44th to be Developed by M3 Companies

The M3 Companies is slated to redevelop CamelSquare at 44th located in the Camelback Corridor at the northwest corner of 44th Street and Camelback Road.

The 17.43-acre parcel of land being developed currently houses an office park known as CamelSquare. Originally built in the 1970s, the existing offices will be completely demolished to give birth to CamelSquare at 44th.

The new project will be comprised of diverse luxury residential housing, ranging from large estate home sites to condominium homes, in a live-work environment. The project includes 19,000 sq. ft. of boutique shops and restaurants, a 40,000-sq.-ft. wellness center and limited commercial office and bank space. The resort will also incorporate a small boutique hotel with approximately 40 suites varying in size from 600 to 1,000 sq. ft.

The majority of the parking available on the property will be underground, creating a more visually appealing intersection.

Midwestern University Evaluates Sites for Future Dental School

More than 50 Arizona sites in 15 cities submitted proposals to host Midwestern University's University Dental Health Clinic(s), including seven cities in the East Valley.

The campus that houses the state's largest medical and pharmacy school is planning to develop an off-campus dental clinic as part of its new College of Dental Medicine, set to open in August 2008.

Midwestern is currently evaluating the proposals and will begin meeting with potential host communities this month. The list will then be narrowed and final site selections will take place by year's end. As many as three separate clinics are possible and are expected to be operational within 24 months.

A non-profit university educating doctors, pharmacists and health scientists, Midwestern University is planning a $150 million expansion plan, including the $50 million College of Dental Medicine and related facilities that will initially educate 100 students per class.

The school was founded in Chicago in 1900 as the American College of Osteopathic Medicine and Surgery. Today, Midwestern has two campuses in Chicago and Glendale, Ariz. servin 3,300 students.

LaPour Acquires Deer Valley Land for Industrial Park

LaPour Partners has acquired 80-acres in Deer Valley for $21.2 million near the Deer Valley Airport. LaPour plans to develop approximately one million sq. ft. of general industrial space, constructed of concrete tilt-up and featuring mid-bay loading in a master-planned industrial environment.

The company chose the site due to the limited amount of land available in the area for industrial developments. It was purchaed on a long term land lease at auction from the State of Arizona. Bob Lundstedt and Darren Tappen with Colliers Classic brokered the deal.

LaPour recently completed the second phase of Pinnacle Park, a 12.43-acre, 159,614-sq.-ft. general industrial project located at Pinnacle Peak Road and 11th Avenue in Deer Valley.

Quicken Loans to Open Division in North Scottsdale

Quicken Loans Inc. has announced plans to open a division in North Scottsdale, Ariz., that is expected to create nearly 400 new high-paying jobs for the region and contribute as much as $30 million in annual salaries. The company expects to begin operations in early 2007. Information about the location will be announced soon.

The majority of Scottsdale positions will be mortgage banking positions.

The Scottsdale office will open in early 2007 with about 90 people. It is expected to grow to as many as 400 new positions over a two- to three-year period.

To submit New Mexico, Arizona or Nevada news items or press releases, email Scott Blair, editor, at scott_blair@mcgraw-hill.com.