The approval of Scottsdale Fashion Square’s expansion reaffirms the importance of this major contributor to the City’s revenue base and quality of life.
Sales tax is critical to the funding of city services for residents. A jewel in downtown Scottsdale, Fashion Square retail generates total annual sales over $650 million dollars and contributes about $13 million dollars in sales tax a year about 7% of the city’s sales tax revenue per the Downtown Scottsdale’s Economic Vitality Coalition.
For decades, Fashion Square, owned by Macerich, has delighted residents and visitors with its offerings including world-class and unique shopping, dining and other entertainment/retail outlets. While many malls and retail centers across the country have closed, Fashion Square continues to thrive. In addition to Scottsdale’s natural beauty, Fashion Square is a key amenity that draws tourists to our city and enriches citizen’s experiences as well.
The new project, according to the Scottsdale Independent, approved by both the Development Review Board (DRB) and Planning Commission before Council gave it the nod this week, will be market-responsive and proposes additional retail, a 200-bed hotel, multiple towers up to 150’, increased open space, a grocery store and office/tenant use over the next five years.
As a long-time Scottsdale resident and homeowner—south, central, downtown and north—I have watched the transition from a Goldwater’s anchored outdoor mall to the world-class destination experience that Fashion Square has become. Current trends show that multiple generations have embraced the urban resurgence spurred by distinctive downtowns, and our downtown continues to be distinctive. Macerich, has continued to update, renovate and expand their Fashion Square property to sustain and grow its value for our city, residents and visitors over the last 50 plus years. Their newly approved proposal reflects their commitment to being market-responsive in support of our vitality and quality of life requirements.
The approval of the Macerich/Fashion Square expansion showcases the city’s ability to address what’s important for the continued and enhanced vibrancy of Scottsdale. Their actions demonstrate forward thinking, community engagement and provide a learning opportunity about the need for vision, process and action.
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