PhoenixMart's amendement to the initial planned area development gets a nod from the City Council. Originally approved in 2012, the developer AZ Sourcing requested various changes which include the reduction of residential units from 993 to 855, changing the name from from PhoenixMart PAD to NALTEC (PhoenixMart) PAD, landscaping changes etc. The $150 million project is funded by EB-5 investors.
When completed, the project would include a 1.6-million-square-foot sourcing center with showroom space for 1,740 tenants. In addition to the sourcing it is supposed to include hotels, office and business complexes, retail space, education and medical facilities, and residential uses.
PhoenixMart is expected to create more than 7,000 jobs.