GDOT's $51M Widening of SR 92 Makes Progress

AZ Begins Early Stages of Projects

Sat March 19, 2005 - West Edition
CEG



LAKE HAVASU CITY, AZ (AP) The city approved a study that will help determine how much developers should be charged in impact fees to help fund a second bridge to an island in Lake Havasu.

Officials believe a second bridge is needed to alleviate traffic on the historic London Bridge and to service growth on the island.

City Manager Tim Ernster said traffic on the London Bridge already is heavy and only expected to get worse.

A consulting firm will spend three months studying the question of the impact fees, which would be charged to developers around the future site of the second bridge.

Last year, a rough estimate of building a second bridge came to $5.5 million for construction and around $8.5 million for right of way acquisition, roadway work, engineering and permitting costs.

According to the city’s timetable, the bridge should be completed within the next five years.

Prescott Valley Study

A newly released feasibility study said a proposed Prescott Valley event center would be profitable.

The arena would be ready by the fall of 2006 if a decision is made to build it.

Town of Prescott Valley officials said in December that the study conducted by an economic consultant would be instrumental in the decision on whether to build the arena.

The Fain Signature Group, the Town of Prescott Valley and Global Entertainment Corp. have not signed a development agreement or publicly released a final plan for how they will pay for the arena’s construction.

Representatives from each group said they will use private money for construction.

The arena would be used for events including concerts, circus performances and ice shows.

Phoenix Hotel, Condos

Phoenix Suns majority owner Robert Sarver and team CEO Jerry Colangelo are looking to finance and build a $70 million luxury boutique hotel and high-rise condominium development project in the downtown area.

The project is expected to be constructed between America West Arena, where the Suns play, and Bank One Ballpark.

“This is a great project for Phoenix,” Assistant City Manager Sheryl Sculley said. “We definitely want to see more like it.”

The Sarver-Colangelo project is being financed with private dollars.

The hotel will have 175 to 200 rooms, a health club and spa, and likely will cater to top executives, athletes and wealthy professionals. It could open by 2007.

Sarver and Colangelo said designing the hotel and condo project will probably take 12 months, with construction lasting 18 months beyond that.

The plan first will have to be approved by the City Council.