Nationwide Realty Investors Announce Plans for Cavasson, $950 Million
Scottsdale, Ariz. – Nationwide Realty Financial specialists reported today that its 134-section of land in Scottsdale, Arizona will be named Cavasson. The project, that is to start construction 2019, will incorporate several commercial office buildings including the new 460,000-square-foot regional headquarters building for Nationwide Insurance, multifamily apartments, a six-story parking structure, retail and restaurants, two hotel sites, and significant infrastructure improvements. Nationwide Realty Investors President and COO Brian J. Ellis made the announcement.
“We are thrilled to be unveiling Cavasson and sharing the initial details of this premier mixed-use development,” said Ellis. “This is the best undeveloped site in the region. It has tremendous visibility, great connectivity to amenities and services, and outstanding access. The demand we’re seeing for this project is truly unprecedented.”
Intelligent of its encompassing scene, Cavasson will be profoundly structured and flawlessly finished. The project will incorporate roughly 1.8 million square feet of market leading commercial office space, 1,600 multifamily units, lodging, retail, eateries, services and amenities. The walkable community will incorporate tree lined walkways, bicycle paths, green spaces, and community gathering places with ample parking. The venture will incorporate a framework investment of roughly $30 million—conveying new streets, walkways, improved connectivity and flood mitigation improvements which will benefit the property and significant acreage surrounding the development. Cavasson is located along Loop 101, at the southwest corner of Hayden Road and Legacy Boulevard in Scottsdale.
Filling in as Cavasson's first occupant, the new 460,000-square-foot Nationwide Insurance regional headquarters building will house around 2,200 partners with more space for development. The five-story, world-class office will permit the organization to bring more partners and like business operations together to make proficient and synergistic workplaces and adjust specialty units with an end goal to more readily serve the requirements of both the organization's policyholders and its partners. Nationwide intends to move its partners into the new structure in late 2020.
“Nationwide’s choice to make a major investment in Arizona will build upon the great strength of our economy by adding hundreds of high-quality jobs,” Arizona Governor Doug Ducey said. “In addition, I’m pleased that the proceeds from Nationwide’s purchase of State Trust Land for this significant mixed-use development will support K-12 public education in our state.”
In September, Nationwide Realty Investors bought the 134-section of land site for the Cavasson advancement at state auction. Proceeds from the buy are planned to benefits the Permanent Land Endowment Trust Fund, assigned to support Arizona K-12 public education. “The Arizona State Land Department is proud to be part of building the economy through this collaborative effort,” said State Land Commissioner Lisa A. Atkins. “The site, purchased from the State Trust by Nationwide Realty Investors for mixed-use development, is a catalyst for creating an even more healthy and prosperous economic future for Arizona.”
“We are appreciative of the creative and collaborative approach to public/private partnership that the state of Arizona and the City of Scottsdale took to make this development possible,” said Ellis. “The culmination of our enterprising partnership is a world-class project in a high-profile location, creating jobs and serving as a powerful economic engine for the region.”
“A company with a reputation for quality like Nationwide Realty Investors does more than provide substantial economic impact to the city of Scottsdale; they enhance the vibrancy of our community and quality of life in our great city,” said Scottsdale Mayor W.J. “Jim” Lane. “We look forward to seeing this development break ground and appreciate the team at Nationwide for choosing Scottsdale.”
Nationwide Realty Investors has been actively developing and investing in real estate in Arizona for more than 30 years. The company is recognized nationally as a proven developer of large, complex, high-performing, mixed-use environments that bring positive and lasting change to the communities in which they serve. Signature developments include Rivulon, the 3-million-square foot mixed-use project under development in Gilbert, Arizona, Gainey Ranch Corporate Center in Scottsdale, and the Arena District and Grandview Yard in Columbus, Ohio.
Cavasson is claimed and created by Across the country Realty Financial specialists, in organization with Grayhawk Improvement. The Across the country working alongside other huge parts of the initial 30 sections of land of the advancement are required to be finished in 2020.