Investors eyeing McDowell corridor in Scottsdale

Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street. It was standing-room only at a recent meeting of the Scottsdale City Council Subcommittee on Economic Development, where project representatives gave updates on their plans to kick-start revitalization on McDowell. Residents learned that there already is new investment in the area and that more is on the way. In all, the corridor has attracted about $138 million in private investment money in the past two years, said Jim Mullin, the city's economic-vitality director. Those investments include apartment projects by Mark-Taylor and Chason Development, Chapman Ford's continued expansion, Fry's upcoming renovation, Comerica Bank, Chase Bank's expansion, Certified Benz & Beemer, and Paul's Ace Hardware renovation. "There are two properties in escrow that, when announced, will bring the total to $150million, all since the city's Economic Development Department reorganization in November 2010," Mullin said.

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