Phoenix 20/20, as explained to GSR by Westcor SVPs Dave Scholl and Tracey Gotsis, will create five new centers of retail development that are being designed and timed in response to and in anticipation of the continuing growth that is transforming Phoenix. As Gotsis explains, Westcor chose to name its plan "20/20" because the concept of "20/20" conveys several meanings that describe what the Westcor plan is all about. In one respect, the "20" of Phoenix 20/20 means that Westcor is planning for the next 20 years of growth in the Phoenix area. In another sense, "20/20" refers to the "clear vision" that Westcor has for the next 20 years of growth in Metropolitan Phoenix, Gotsis says.

The first of the five projects in Westcor's Phoenix 20/20 plan is SanTan Village in Gilbert, AZ, an open-air design that will include one portion that is a regional shopping center on a 120-acre site and another portion that is a power center with large-format retailers. Westcor is scheduled to break ground for the regional center in October, having lined up Dillard's, Robinson's May and Harkins Theatres as anchors. The theater portion of the regional center is due to open in the fall of 2006, with the rest of the project scheduled for opening in the fall of 2007. The power center, opening in phases this year and next, will include Bed Bath & Beyond, Circuit City, Costco, Jo-AnnSuper Store, Marshalls, OfficeMax, a Wal-Mart Supercenter, a Sam's Club and others.

The other four centers, which are in varying stages of entitlements, include two that will be named Prasada and Estrella Falls. The other two centers have not been formally named yet, but they are planned for the Paradise Ridge and North Black Canyon areas of the Greater Phoenix region.