Ellman sees another development era

Westgate City Center owner Steve Ellman sees another real estate and development build up in greater Phoenix’s future. Ellman recently spoke before the Glendale Chamber of Commerce’s State of the City event. Ellman, a real estate developer and former owner of the Phoenix Coyotes hockey team, contends this current downturn is no different than past recession. Ellman expects to see another wave of home building and real estate development in the Phoenix suburbs after the current inventory of homes and commercial space is used up. Ellman believes that will be keyed by population growth in the Southwest which has been stalled by the recession. Ellman owned the Coyotes when the team got turned down for an arena by Scottsdale and he moved them to the West Valley. He later swapped ownership in the hockey team with Jerry Moyes for ownership of the Westgate retail and restaurant complex.

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