Surprise, Arizona (September 7, 2023) -- SimonCRE's new 70,000-square-foot mixed-use center in Surprise is moving ahead. The project will be known as Elm Street at Surprise City Center. Carefree Partners is working with SimonCRE on the project.
The Phoenix Business Journal reports, at full build-out the development will feature a walkable urban center, new stores, restaurants, entertainment and two-story office spaces south of Bell Road near Surprise City Hall and Ottawa University. The tenants will include burger chain Farmer Boys, Mission BBQ, Italian restaurant Osteria Mia, Café Zupas and Better Buzz Coffee Roasters.
About 62% of the first phase has been pre-leased with construction slated to start by the end of September, with a projected date of Q3 2024 for completion. Phoenix Commercial Advisors is the leasing brokerage.
Pride Contracting was selected as the general contractor for the development. SimonCRE previously said the initial phase of Elm Street would cost about $35 million to develop.
"We see the vision the city has for this area, and there is a lot of potential for an amazing and walkable streetscape,” said Joshua Simon, Founder and CEO of SimonCRE in a statement.
In June, Surprise City Council approved an agreement to reimburse the developer up to $6.5 million to build out Elm Street to Bullard Avenue.
The city's downtown area encompasses about 640 acres and is envisioned as a major mixed-use destination and downtown corridor for Surprise. So far, the area is about 15% to 20% built out with a university, city facilities, amenities and a spring training facility.
SimonCRE said the city of Surprise population has increased by 4.3% in the past decade and is expected to grow another 1.2% in the next five years.