A California-based developer is ready to construct the largest industrial building in Surprise, a $10million project that will spill over 24 acres at the Skyway Business Park near Cactus and Dysart roads.
At a workshop this week, Surprise City Council members praised the project by Thousand Oaks, Calif.-based Skyway LLC, because it was a potential job generator. The council is expected to formally approve a development agreement with the company on Tuesday.
The developer plans to start construction later this year.
"This is a significant project ," said Jeff Mihelich, Surprise Community Development Director. "Whatever it takes to have good, high-quality jobs is what we're looking for."
New jobs would come first for construction workers, since the "on spec" Skyway project has not secured tenants for the 418,000-square-foot building. City officials said the building could attract a distributor or other manufacturing company.
Construction alone could generate as many as 100 jobs. City analysts estimated the building could generate as much as $500,000 annually in city taxes once it is occupied. The building will sit in the same park as Gestamp Solar Steel, Rioglass Solar, Brentwood Industries, Southwest Products and Intrepid Industries -- all are new businesses Surprise has attracted over the past several years.
Under the development agreement, Surprise would waive $275,000 in permit fees if the project meets its deadlines. Skyway would have to be ready for tenants by February 2014 to meet the city's criteria.
Councilman Richard Alton noted that the Greater Phoenix Economic Council has advised cities to prepare "shovel-ready" sites for businesses considering a move to Arizona.
Moshe Silagi, who heads Skyway LLC, said he believes the market is right for a speculative industrial building. "Lenders still are not as ready, but it will come," he said.
By Lesley Wright, The Republic|azcentral.com Aug 11, 2012
Building set for approval - USATODAY.com
