The Future of Desert Ridge…
Wouldn’t it be great if we could look into the future and know exactly what was going to happen? Imagine how much better our decisions would be, not to mention the improvements to our NCAA basketball brackets. While it would take away some of the fun from the office pool, it would dramatically improve our life. That’s the power of information and how a better understanding of what’s ahead can reduce stress and improve outcomes.
While it’s impossible to know exactly what’s ahead, I’d like to share what I see in the future of Desert Ridge.
The depressed economy has hit Arizona real estate hard and we’ve felt the impact. While better than most areas of Phoenix, the number of foreclosures in Desert Ridge has reached record levels, and developers who purchased large blocks of State land have given them back. These events have negatively affected us all by lowering home values and reducing the income to our Association by over $500,000 per year.
I believe we have weathered the real estate storm and a prosperous future lies ahead. The number of foreclosures is down and real estate values are moving up. Within the year, you’ll see the Arizona State Land Department auction off properties within Desert Ridge and bring back the echoes of hammers and saws. Because of the work already completed, the first of the properties to develop will likely be the southwest corner of Pinnacle Peak Road and Tatum Boulevard. After that, we’ll see additional development in Toscana, along 56th Street and in CityCenter of CityNorth.
CityCenter of CityNorth? No, that wasn’t a typo. I have tremendous faith in the new owners of CityCenter of CityNorth (Scanlan Kemper Bard Companies and Wayzata Investment Partners) and in our Master Developer Gray Development Group. The synergy of these two powerhouses will forever change the commercial landscape and finally bring familiar retail names into Desert Ridge. Look for announcements to occur much sooner than you previously expected.
Traffic levels will escalate on 56th St. and Tatum Boulevard, but we’ll get some relief from the new Black Mountain Boulevard exit off State Route 51. This extension will pass to the east side of Pinnacle High School and extend up to Pinnacle Peak Road, shortening commute times and opening the lands north of Pinnacle Peak Road for development.
As the pace of growth quickens, we’ll be given many more choices, but with it will come serious challenges. Our DRCA Board will be called upon to be a key stakeholder in defending property rights and home values within our community. We’ll be successful because we have foresight and the support of the best neighbors in Phoenix.
Yes, I see an incredibly bright future for Desert Ridge…now somebody please help me with those basketball brackets!
Doug Dickson
President
Desert Ridge Community Association
