Developer of $125-Mil Project Wants More Time to Find Financing

PHOENIX--The developer of a $125-million mixed-use project in downtown Mesa, which would include a hotel, water park and ice rink, wants more time from the city to arrange financing.

By D.J. Burrough | October 24, 2000 at 01:01 AM

Malcolm Ross wants more time to put together financing for Mesa Verde Project, which would be built in downtown Mesa. Ross says that he needs more time to secure financing, because construction costs have increased. The Vancouver, British Columbia-based developer also plans to delay portions of the project to stay on budget.

If the extension is granted, it would be the third time the city has given Ross additional time in the three years he's been working on the project.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

1 Tariffs Trigger Sharpest Drop in CRE Confidence Since Pandemic

2 Class B Malls Offer Prime Redevelopment Opportunity

3 Offices are Landing in Special Servicing Despite Strong Occupancy and Rent

4 Banks, Auto Parts Stores Lead Retail Cap Rate Declines

5 Office Distress Finally Starts Knocking on Investors’ Doors

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Workers' Compensation Risk Management Award for Excellence Nominations
May 05, 2025 - Nomination Deadline

The 2025 Workers Comp Risk Management Award for Excellence honors outstanding loss control, safety and return-to-work programs.
More Information

BTR Market Hits Record High With 39,000 Homes Completed

By Philippa Maister | April 14, 2025

The market is unrecognizable. In just five years, the number of BTR homes more than doubled.

BTR Market Hits Record High With 39,000 Homes Completed

How Affordable Housing Developers Can Navigate Government Spending Shifts

By JR Lephew, Principal and Director of Affordable Housing, Partner Engineering and Science, Inc | April 01, 2025

Strategies to Overcome Funding Obstacles in the New Landscape of Multifamily Housing

How Affordable Housing Developers Can Navigate Government Spending Shifts

EPA Aims to Reduce Construction Costs With New Water Regulations

By Erik Sherman | March 20, 2025

The rule could have major impacts on wetlands and development.

EPA Aims to Reduce Construction Costs With New Water Regulations

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio link

Guide

Sponsored by Assurant

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio

Picking the right renters insurance can be a headache. This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk.

Browse More Resources ›

The Return to Office: Recovery Still Underway link

Guide

Sponsored by Placer.ai

The Return to Office: Recovery Still Underway

Are you noticing unexpected shifts in office occupancy and commuter behavior? This report reveals how evolving work patterns are challenging CRE brokers and offers crucial, data-backed insights for 2025. Discover a detailed analysis of office visit fluctuations, an in-depth look at midweek work trends, accurate forecasts for market recovery, real-world examples to inform strategic decisions, and actionable metrics to guide client advising. Download your copy today!

Browse More Resources ›

The State of Commercial Property Management Technology in 2025 link

Report

Sponsored by Building Engines

The State of Commercial Property Management Technology in 2025

Commercial property teams are navigating changing times where technology plays a crucial role in operations, tenant satisfaction, and sustainability. This report, based on insights from 370 industry professionals, reveals the biggest priorities, challenges, and opportunities for CRE technology adoption in 2025. Don’t miss it.

Browse More Resources ›