CITY NEWS
CROWN REALTY & DEVELOPMENT SELECTS CUSHMAN & WAKEFIELD TO BROKER
FIRST PHASE OF CITY NORTH’S MULTIFAMILY RESIDENTIAL COMPONENT CROWN REALTY & DEVELOPMENT CORPORATION IS PROUD TO ANNOUNCE THAT CUSHMAN & WAKEFIELD EXECUTIVE MANAGING DIRECTORS DAVID FOGLER AND STEVEN NICOLUZAKIS WILL SERVE AS THE BROKERS TO MARKET THE FIRST PHASE OF CITY NORTH’S MULTIFAMILY RESIDENTIAL COMPONENT. Cushman & Wakefield will be overseeing the marketing efforts for the first phase’s 250 multifamily residential units. Crown plans to identify a developer and start construction on the first 250 multifamily residential units by the end of this year. In January, Crown acquired the nearly 100-acre City North property that surrounds the existing High Street retail, office and residential community. The land had been the subject of litigation for nearly a decade and has been valued by the
bankruptcy court for $121 million. Crown, which has developed the Omni Montelucia Resort and spearheaded the redevelopment of Mountain Shadows in Paradise Valley, plans to develop what will essentially be a new city and second urban node for Phoenix with City North. An offering memorandum is currently being sent to prospective multi-family developers. The 250 multifamily residential units developed in this first phase sit on four acres. City North’s entire multifamily residential component will consist of 2600 units and will comprise 32 acres of the City North development. “We are building the ultimate ‘live, work and play’ environment at City North,” said Rick Carpinelli, Senior Vice President of Acquisition and Development at Crown. “This is one of the best pieces of real estate
in the western United States and all residential units will be wellintegrated with nearby amenities such as restaurants, entertainment offerings and fitness centers at High Street and Desert Ridge Marketplace.”
Fogler and Nicoluzakis are two of the most well-known specialists of acquisition, disposition and sales of multifamily properties and land in Arizona. Combined, they have achieved total sales of over 50,000 units with a value in excess of $5 billion.
MARICOPA COUNTY GETS RID OF OVERDUE FINES AT ITS PUBLIC LIBRARIES MARICOPA COUNTY IS WELCOMING THOUSANDS OF CUSTOMERS BACK TO ITS PUBLIC LIBRARIES. The Board of Supervisors has voted to eliminate overdue fines – and to waive existing overdue fines – at the County’s 18 public libraries. This measure only applies to Maricopa County Library District libraries. While part of a growing national movement, Maricopa County is the first public library system in Arizona to take this step for all customers. “Libraries are an important resource for children and adults to learn about and connect with their community and world,” said Bill Gates, Chairman of the Maricopa County Board of Supervisors, District 3. “This is why we have decided to discontinue collecting daily overdue fines and to waive any existing fines that can build up and lead to blocked accounts for people who can least afford them, giving everyone a fresh start. We’re proud to be the first system in the state to remove this barrier between our residents and a vital community resource.” “No one should be kept from libraries because of overdue fines,” said Cindy Kolaczynski, Director of 4 • June/July 2019 • NORTH TATUM TIMES
the Maricopa County Library District. “Collecting fines isn’t a quick process. Our staff would much rather help customers explore and discover. Now is the perfect time to get or renew your library card and enjoy the library in person and online.”
MINIMAL FINANCIAL IMPACT Maricopa County Library District receives about $300,000 from overdue fine payments each year, less than one percent of its budget. “That number has been dropping and doesn’t account for the resources it takes to collect payments,” continued Kolaczynski. “Coupled with the rise in digital items, which auto-return on the due date, it just makes sense to eliminate overdue fines.” SUMMER READING PROGRAM STARTS JUNE 1 County officials also reminded the public to register at read20az.com for the annual Summer Reading Program, which runs through June and July. “Everyone can earn great prizes, including a free book,” Kolaczynski added. “You don’t need a library card for the program, but it definitely improves the experience.” northtatumtimes.com
