H&LA Development Update: Phoenix, Arizona

H&LA’s recent research for a project near Phoenix, Arizona revealed some exciting new hospitality-related developments happening in the area. These developments will have an impact on tourism, employment, and the general economy in Phoenix and the surrounding areas in 2023 and beyond.

  • A large-scale, mixed-use hospitality and entertainment project called the VAI Resort is now under construction in Glendale, near State Farm Stadium. This $260 million development is scheduled to open in late 2023 and will include a 630-room upscale hotel, a Mattel-themed adventure park, an 11-acre lagoon, beaches, 12 fine dining restaurants, and a concert stage.
  • The Big Surf outdoor waterpark in Tempe, Arizona, sold for $49 million in April of 2022. The 35.5-acre property, which had not reopened since the summer 2019 season, was sold to California-based Overton Moore Properties. As of our research date, it remains unclear whether the property will reopen as a waterpark or be used for some other type of development.
  • A 37-acre mixed-use development called Cannon Beach is now under development in Mesa, Arizona, east of Phoenix. This project will feature a surf park, a hotel, a residential building, office buildings, restaurants, retail, and outdoor recreation areas. Cannon Beach is now in the process of lining up tenants, and it is expected to open within the next two years.
  • The new Santan Mountain Casino is now under construction on 160 acres of land within the Gila River Indian Community, south of Chandler, Arizona. This $150 million project is expected to be finished by the end of 2023, and it will be the tribe’s fourth casino in the greater Phoenix area. Once open, Santan Mountain Casino will employ more than 650 workers.
  • Idaho-based KORE Power is planning to build a one-million-square-foot battery manufacturing facility just off State Route 85 in Buckeye, Arizona, west of Phoenix. With production anticipated to begin by the end of 2023, this project is will bring as many as 3,000 new jobs to the area.
  • Intel Corp. is currently building two new semiconductor chip factories in Chandler, Arizona, southeast of Phoenix. Representing a total investment of about $20 billion, these facilities will increase the company’s workforce in the region by about 3,000 employees. Construction on these plants began in September 2021, and they are expected to be open and operational by 2024.