COBE Development and Glenwood Development Co. are putting aretail and office condo project on 10 acres at the corner ofCamelback Road and Loop 101. Work is getting under way with thecondo component already 50% sold and an anchor, Fitness Works Gym,for the 53,000 sf of retail space.

A spokesman for COBE Development tells GlobeSt.com that theprices for the condominiums range from $230 per sf to $260 per sf.The goal is to be sold out by the time the project goes live in themiddle of 2008. He says that the condominium side will be completedin one phase and the retail, which is being developed by Glenwood,will come in two phases, with the first being the gym. Glenwoodalready has commitments from a couple restaurants and Bank ofArizona for a pad site.

"The whole process, from buying the land last year toentitlements, was fast and took about 12 months," the spokesmansays. "I think what helped was that there was no review process wehad to work out with the city."