Developments to look for in 2023 in the Southwest Valley
With the new year right around the corner, here are some projects to look out for in 2023. From new housing to restaurants, here’s what’s coming to the Southwest Valley.
Buckeye to add more shops, jobs
In Buckeye, one of the fastest-growing cities in the country, there is no shortage of new restaurants, stores and housing developments.
A new outdoor shopping mall, Verrado Marketplace, is expected to break ground in late 2023. Construction is expected to be completed in 2024, with the shopping center featuring 50 to 60 stores, restaurants, theaters and other venues. No vendors have been announced yet, said a representative of Phoenix-based Vestar.
A number of jobs will also be added to Buckeye with the construction of KORE Power. A 1-million-square-foot KOREPlex facility will be constructed in Buckeye, which is a lithium-ion battery facility.
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The company announced last month that it had secured the first $75 million tranche of a private placement expected to total $150 million. Siemens Financial Services was the lead investor. Quanta Services, Nidec Motor Corporation, Honeywell Ventures, Trog Hawley Capital and a leading utility scale energy storage provider were also partners in the private placement. Goldman Sachs & Co. LLC acted as KORE’s exclusive placement agent.
The financing will go towards beginning the construction of the facility. The company expects to break ground before the end of the year and be functional by late 2024.
More:How the Phoenix area's fastest-growing city landed KOREPlex lithium-ion battery plant
The plant is expected to provide 3,000 jobs at an average pay of $46,000, with some positions expected to earn upwards of $65,000.
President Joe Biden cited the KORE Power facility earlier this month while visiting the Taiwan Semiconductor Manufacturing Co. In North Phoenix. The two TMSC factories will fab will feature the most advanced semiconductor-process technology in the U.S. and is expected to attract even more suppliers to the region.
More:When will it open? How can you find jobs? 5 things to know about Phoenix's TSMC semiconductor plant
Goodyear to get more restaurants, move forward with Goodyear Civic Square
One of the biggest projects underway in Goodyear is the city’s new Civic Square at GSQ, which is a part of the city’s goal to build a downtown area. It reached a milestone earlier this year with the opening of its new city hall and will continue to add more restaurants and retail.
The project is in partnership with Globe Corp., which owns a majority of the 47-acre site.
More:Goodyear's new Civic Square is opening to create a downtown hub for the fast-growing city
The Stillery was the first business to announce that it would open at the GSQ, the city announced last month. The Tennessee-based restaurant is known for its live country music and mason jar cocktails. It’s expected to open by the end of 2023.
And earlier this month, the city announced a second restaurant coming to the GSQ. Westside Concepts will be opening an unnamed boozy brunch spot in Goodyear’s downtown area in early 2024.
Avondale to improve traffic flow in 2023
Several projects will soon be underway to alleviate traffic issues in Avondale. Earlier this month the city began street improvements on Avondale Boulevard from McDowell Road north to Encanto Boulevard. The project will widen the road, improving traffic flow and safety for vehicles and pedestrians. The approved budget for the project is $4.2 million, according to an Avondale representative.
One southbound lane and one northbound lane will be added to the road, as well as new sidewalks, bike lanes and streetlights. The project will be completed in August.
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The city has also begun other traffic improvement projects, such as one to the intersection of Avondale Boulevard and Lower Buckeye Road that will add additional traffic signals and handicap ramps for pedestrians. The approved budget for that project is $4.7 million.
A final plan to make the city more walkable and bikeable will be presented to the City Council on Jan. 9.
This article originally appeared on Arizona Republic: Here are new developments to look out for in the New Year
