Westgate City Center
Encyclopedia
Westgate City Center is the name of a mixed-use development located in Glendale, Arizona
. Westgate is described as a super-regional destination for shopping, entertainment, commercial office and luxury residential. Funded by millionaire New York architect Ron Elsensohn and anchored by the Jobing.com Arena, home of the NHL
team the Phoenix Coyotes
, the complex is planned to eventually feature 8000000 sq ft (743,224.3 m²) of retail space and become one of the premier entertainment destinations in the region, attracting a projected 22 million visitors annually upon completion. In 2011, the future of the development came into doubt, as the property went into foreclosure and reverted to lenders. The shopping center remains open.
, and adjacent to the University of Phoenix Stadium
, home to the Arizona Cardinals
and Super Bowl XLII
.
Development of Westgate City Center began with the construction of the Jobing.com Arena, then referred to as the Glendale Arena. Construction of the Arena was completed in late 2003 and it hosted its first NHL game on December 27 of that same year, while construction of the remainder of Westgate's Entertainment District began in October 2005, opening one year later.
The project has been split into multiple phases to facilitate construction and development. Phase I, the initial 510000 square feet (47,380.6 m²) development, opened to the public on November 17, 2006 in limited fashion with only a few restaurants and a sports merchandise store, with other retailers, restaurants and a 20-screen theater opening in the following weeks. Phase I also includes an upmarket 12-story Renaissance Hotel
completed in mid 2007, and a convention center, as well as outdoor entertainment facilities. Westgate City Center is now home to more than 30 bars and restaurants as well as a mix of national, regional and local retailers.
Phase II will add an estimated 436000 square feet (40,505.7 m²) retail destination center and 105000 square feet (9,754.8 m²) of "neighborhood retail" to be integrated into a 440-unit residential district..
The development of future phases will be contingent upon market demand and is yet to be scheduled, although estimated completion dates range from 2010 to 2015 at a potential total cost of $1 billion.
in 2009. The Center will remain open. The Steve Ellman companies will attempt to reschedule debt on the Center or part or all of the Center will be sold to settle debt to lenders. Ellman acquired Westgate in 2006 by swapping his ownership in the Coyotes for Jerry Moyes' ownership share of Westgate. Ellman had moved the Coyotes to Glendale in 2005 after failing to get an arena built at the former Los Arcos Mall in Scottsdale. Two auctions are scheduled for foreclosed Westgate City Center properties. The first auction, held on September 19, 2011, is for properties securing a $97.5 million dollar loan from iStar Financial. The auction failed to sell at a reserve price of $40 million, and the 33 acres (13.4 ha) property has become the property of iStar Financial. A second auction is scheduled for November 3, 2011 for properties securing a $202 million dollar loan from Credit Suisse. This is for 95 acres (38.4 ha), which is currently mostly parking lots.
In November 2011, iStar Financial named Vestar Development Company as the new property managers of the complex. At the time, Westgate retail space was 75% leased and office space 50% leased. Vestar is charged with improving the occupancy rate and improving "foot traffic on non-peak days when the arenas are dark". iStar intends to hold onto Westgate for the long-term, and is not looking for a new owner of the property.
Westgate was built around Jobing.com Arena, which is its primary attraction. Although not a part of the development, the University of Phoenix Stadium
, home of the Arizona Cardinals
, is located directly adjacent to the development. Management of both Westgate and the University of Phoenix Stadium have cited their proximity as creating a synergistic boom to the area. Although not within Westgate's borders, the camping
, fishing
, and hunting
retailer Cabela's
can be found adjacent to the development and draws visitors to the Westgate City Center each year.
Adjacent to the Jobing.com Arena and central to the project is WaterDance Plaza, and events plaza featuring a Belagio-style, "dancing" water feature and a massive complex of outdoor signage. Cooperating with media giant Clear Channel Communications
, the development includes 30 large electronic signs, some in excess of 100 feet (30 m). The agglomeration of electronic signage and media boards, said to be the largest "Media & Signage District" west of Times Square has earned it the nickname "Times Square of the West"
WaterDance also features a 60000 gal "dancing fountain" display, costing some $5 million to construct. The fountain was inspired by the more elaborate display at the Bellagio
casino
in Las Vegas
and has been described as "Bellagio-esque."
to be featured on Phoenix's west side. An estimated 7,500 people attended the party.. In addition, Westgate is home to the annual AVP pro volleyball tournament, Action Sports extreme sporting events, Miller Lite Tailgate Parties before Cardinals home games, monthly farmers markets, live entertainment in Fountain Park, and high-end art exhibitions.
Westgate has also become home to a number of smaller-scale block parties to cheer on local American Idol
contestant Jordin Sparks
. Recent block parties related to the show have drawn over 700 people.
Glendale, Arizona
Glendale is a city in Maricopa County, Arizona, USA, located about nine miles northwest from Downtown Phoenix. According to 2010 Census Bureau, the population of the city is 226,721....
. Westgate is described as a super-regional destination for shopping, entertainment, commercial office and luxury residential. Funded by millionaire New York architect Ron Elsensohn and anchored by the Jobing.com Arena, home of the NHL
National Hockey League
The National Hockey League is an unincorporated not-for-profit association which operates a major professional ice hockey league of 30 franchised member clubs, of which 7 are currently located in Canada and 23 in the United States...
team the Phoenix Coyotes
Phoenix Coyotes
The Phoenix Coyotes are a professional ice hockey team based in Glendale, Arizona. They are members of the Pacific Division of the Western Conference of the National Hockey League . They play their home games at Jobing.com Arena....
, the complex is planned to eventually feature 8000000 sq ft (743,224.3 m²) of retail space and become one of the premier entertainment destinations in the region, attracting a projected 22 million visitors annually upon completion. In 2011, the future of the development came into doubt, as the property went into foreclosure and reverted to lenders. The shopping center remains open.
Development
Glendale Arizona's Westgate City Center is a 223 acre (0.90244978 km²), mixed-used development that will ultimately include up to 8000000 square feet (743,224.3 m²) of shopping, dining, entertainment, high-end condominiums, parks, and office space. It is anchored by Jobing.com Arena, home of the Phoenix CoyotesPhoenix Coyotes
The Phoenix Coyotes are a professional ice hockey team based in Glendale, Arizona. They are members of the Pacific Division of the Western Conference of the National Hockey League . They play their home games at Jobing.com Arena....
, and adjacent to the University of Phoenix Stadium
University of Phoenix Stadium
University of Phoenix Stadium, opened August 1, 2006, is a multipurpose football stadium located in Glendale, Arizona. It is the home of the Arizona Cardinals of the National Football League and the annual Fiesta Bowl...
, home to the Arizona Cardinals
Arizona Cardinals
The Arizona Cardinals are a professional American football team based in Glendale, Arizona, a suburb of Phoenix. They are currently members of the Western Division of the National Football Conference in the National Football League...
and Super Bowl XLII
Super Bowl XLII
Super Bowl XLII was an American football game on February 3, 2008 that featured the National Football Conference champion New York Giants and the American Football Conference champion New England Patriots to decide the National Football League champion for the 2007 season...
.
The project has been split into multiple phases to facilitate construction and development. Phase I, the initial 510000 square feet (47,380.6 m²) development, opened to the public on November 17, 2006 in limited fashion with only a few restaurants and a sports merchandise store, with other retailers, restaurants and a 20-screen theater opening in the following weeks. Phase I also includes an upmarket 12-story Renaissance Hotel
Renaissance Hotels
Renaissance Hotels is a worldwide brand of hotels and resorts. The brand is owned by Marriott International and many Renaissance Hotels are managed by Marriott; however, some are operated under a franchise license. Renaissance Hotels, Resorts and Suites cater to an upmarket segment of the traveling...
completed in mid 2007, and a convention center, as well as outdoor entertainment facilities. Westgate City Center is now home to more than 30 bars and restaurants as well as a mix of national, regional and local retailers.
Phase II will add an estimated 436000 square feet (40,505.7 m²) retail destination center and 105000 square feet (9,754.8 m²) of "neighborhood retail" to be integrated into a 440-unit residential district..
The development of future phases will be contingent upon market demand and is yet to be scheduled, although estimated completion dates range from 2010 to 2015 at a potential total cost of $1 billion.
Foreclosure
In June 2011, the Westgate City Center development received notices of foreclosure. Part of the reason given for the foreclosure was the uncertainty around the Phoenix Coyotes since the team filed bankruptcyPhoenix Coyotes bankruptcy
In addition to the bankruptcy of the Phoenix Coyotes, this article discusses the NHL's efforts to sell the club since purchasing it out of bankruptcy.----...
in 2009. The Center will remain open. The Steve Ellman companies will attempt to reschedule debt on the Center or part or all of the Center will be sold to settle debt to lenders. Ellman acquired Westgate in 2006 by swapping his ownership in the Coyotes for Jerry Moyes' ownership share of Westgate. Ellman had moved the Coyotes to Glendale in 2005 after failing to get an arena built at the former Los Arcos Mall in Scottsdale. Two auctions are scheduled for foreclosed Westgate City Center properties. The first auction, held on September 19, 2011, is for properties securing a $97.5 million dollar loan from iStar Financial. The auction failed to sell at a reserve price of $40 million, and the 33 acres (13.4 ha) property has become the property of iStar Financial. A second auction is scheduled for November 3, 2011 for properties securing a $202 million dollar loan from Credit Suisse. This is for 95 acres (38.4 ha), which is currently mostly parking lots.
In November 2011, iStar Financial named Vestar Development Company as the new property managers of the complex. At the time, Westgate retail space was 75% leased and office space 50% leased. Vestar is charged with improving the occupancy rate and improving "foot traffic on non-peak days when the arenas are dark". iStar intends to hold onto Westgate for the long-term, and is not looking for a new owner of the property.
Attractions
University of Phoenix Stadium
University of Phoenix Stadium, opened August 1, 2006, is a multipurpose football stadium located in Glendale, Arizona. It is the home of the Arizona Cardinals of the National Football League and the annual Fiesta Bowl...
, home of the Arizona Cardinals
Arizona Cardinals
The Arizona Cardinals are a professional American football team based in Glendale, Arizona, a suburb of Phoenix. They are currently members of the Western Division of the National Football Conference in the National Football League...
, is located directly adjacent to the development. Management of both Westgate and the University of Phoenix Stadium have cited their proximity as creating a synergistic boom to the area. Although not within Westgate's borders, the camping
Camping
Camping is an outdoor recreational activity. The participants leave urban areas, their home region, or civilization and enjoy nature while spending one or several nights outdoors, usually at a campsite. Camping may involve the use of a tent, caravan, motorhome, cabin, a primitive structure, or no...
, fishing
Fishing
Fishing is the activity of trying to catch wild fish. Fish are normally caught in the wild. Techniques for catching fish include hand gathering, spearing, netting, angling and trapping....
, and hunting
Hunting
Hunting is the practice of pursuing any living thing, usually wildlife, for food, recreation, or trade. In present-day use, the term refers to lawful hunting, as distinguished from poaching, which is the killing, trapping or capture of the hunted species contrary to applicable law...
retailer Cabela's
Cabela's
Cabela's is a direct marketer and specialty retailer of hunting, fishing, camping and related outdoor recreation merchandise, based in Sidney, Nebraska. It also has "Trophy Properties LLC , "Outdoor Adventures" , and the "Gun Library"...
can be found adjacent to the development and draws visitors to the Westgate City Center each year.
Adjacent to the Jobing.com Arena and central to the project is WaterDance Plaza, and events plaza featuring a Belagio-style, "dancing" water feature and a massive complex of outdoor signage. Cooperating with media giant Clear Channel Communications
Clear Channel Communications
Clear Channel Communications, Inc. is an American media conglomerate company headquartered in San Antonio, Texas. It was founded in 1972 by Lowry Mays and Red McCombs, and was taken private by Bain Capital LLC and Thomas H. Lee Partners LP in a leveraged buyout in 2008...
, the development includes 30 large electronic signs, some in excess of 100 feet (30 m). The agglomeration of electronic signage and media boards, said to be the largest "Media & Signage District" west of Times Square has earned it the nickname "Times Square of the West"
WaterDance also features a 60000 gal "dancing fountain" display, costing some $5 million to construct. The fountain was inspired by the more elaborate display at the Bellagio
Bellagio (hotel and casino)
Bellagio is a hotel and casino located on the Las Vegas Strip in the Paradise area of unincorporated Clark County, Nevada, USA and a member of The Leading Hotels of the World. It is owned by MGM Resorts International and was built on the site of the demolished Dunes hotel and casino.Inspired by the...
casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
in Las Vegas
Las Vegas Strip
The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester...
and has been described as "Bellagio-esque."
Events
As home of the Jobing.com Arena, a number of events are held at Westgate City Center. Often visitors waiting for events such as concerts, conventions, and sports held in the arenas will spend time in Westgate while waiting for the events to begin. The Center itself is the host of a number of independent events. Westgate hosted its first major event, Westgate Rocks on December 31, 2006, the first premiere New Year's block partyBlock party
A block party is a large public party in which many members of a single neighbourhood congregate, either to observe an event of some importance or simply for mutual enjoyment. The name comes from the form of the party, which often involves closing an entire city block to vehicle traffic...
to be featured on Phoenix's west side. An estimated 7,500 people attended the party.. In addition, Westgate is home to the annual AVP pro volleyball tournament, Action Sports extreme sporting events, Miller Lite Tailgate Parties before Cardinals home games, monthly farmers markets, live entertainment in Fountain Park, and high-end art exhibitions.
Westgate has also become home to a number of smaller-scale block parties to cheer on local American Idol
American Idol
American Idol, titled American Idol: The Search for a Superstar for the first season, is a reality television singing competition created by Simon Fuller and produced by FremantleMedia North America and 19 Entertainment...
contestant Jordin Sparks
Jordin Sparks
Jordin Brianna Sparks is an American pop / R&B singer-songwriter and actress. She hails from Glendale, Arizona who rose to fame as the winner of the sixth season of American Idol. Sparks won when she was 17 years old, making her the youngest winner in Idol history...
. Recent block parties related to the show have drawn over 700 people.