Carl Holcombe
The Arizona Republic
Westcor is planning Pinal County’s first regional mall on 320 prime acres next to a possible future freeway and right in the middle of one of the fastest-growing regions in the nation.
And although this is the first major development to come up against a new state law restricting tax breaks, Coolidge may hand over more than $30 million in incentives to make it happen.
A proposed 50-year agreement would give Westcor at least $30 million in sales tax rebates to build infrastructure and roads.
In return, the city is expected to reap $167 million in revenue over a 10-year period, says a study commissioned by Coolidge, paid for by Westcor and conducted by Elliott D. Pollack & Co.
About 5,000 construction and permanent jobs are expected.
“They want to develop, we want them to develop,” Mayor Wilbur Wuertz said. “Coolidge is growing and we’re going to need it.”
A new state law allows cities to award tax breaks only when a retail business won’t locate in the city in the same time, place or manner without incentives.
Coolidge officials believe they comply.
“This is always competitive, (Westcor) could have always gone a little to the left or the right,” City Manager Bob Flatley said.
“They could’ve gone up to Florence or even down to Eloy. But this is their prime choice.”
Preliminary plans call for a 1.2 million-square-foot indoor mall similar in size to Chandler Fashion Center, a 600,000-square-foot outdoor big box power center and a 60-acre auto mall.
Restaurants, hotels, apartments, theaters and hospitals could also be built.
The shopping center will have a prime location in soon-to-boom Coolidge and near expected growth in Florence, the Santan area, Eloy and Casa Grande.
Construction will begin once there are 200,000 residents within five miles of the property bordered by Bartlett and Wheeler roads, or in 15 years. City consultant Bob Bates predicted construction could begin in as few as five years.
“There are a lot of master-planned communities ready to pop,” Flatley agreed. “We may see (construction) sooner than later.”
Biding its time until the market is right is not uncommon for Westcor, which sat on the Chandler mall site for a decade before building, said Senior Vice President Tracey Gotsis.
The Coolidge City Council is expected to vote on the agreement Sept. 12.
The proposed incentive package is comparable to other Valley mall deals.
Chandler gave $40 million in incentives for Chandler Fashion Center. Glendale gave $17 million in incentives for Arrowhead Towne Center. Scottsdale gave $27.5 million to bring Nordstrom to Scottsdale Fashion Square.
