RED Development, Globe Plan Metro Phoenix Mixed-Use District

Goodyear Civic Square. Image courtesy of RED Development and Globe Corp.

RED Development and Globe Corp. have formed a joint venture to build a 150-acre mixed-use development in the growing city of Goodyear, Ariz., that will create an upscale entertainment hub called GSQ, with dining, retail, multifamily, office and hotel offerings.

Construction is slated to begin in 2024, with additional announcements expected to be made later this year. An estimated price tag for the project was not released.

GSQ is being designed to complement the Goodyear Civic Square at GSQ developed by Globe Corp. in partnership with the City of Goodyear last year. That project features a new city hall building, two-story library and 2-acre community park, along with office and retail space. The new development will include a gathering place with first-of-its-kind entertainment concepts, a mix of high-end and fast-casual restaurants and a mix of big-box retail and specialty shops.

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The joint venture will create a much-needed shopping, dining and entertainment district in Goodyear, one of the fastest-growing cities in Arizona, with a population that has increased by more than 45 percent in the past decade. Goodyear, a Phoenix suburb in the region’s West Valley, is home to more than 500,000 residents within a 10-mile radius of GSQ.

Calling it a very exciting step, Goodyear Mayor Joe Pizzillo said in a prepared statement the city’s dream of having a downtown is closer to reality now with the joint venture announcement. Pizzillo said they have all the right partners working together now to create a special walkable district for local and regional residents to enjoy.

Earlier projects

RED Development and Globe Corp. are both Arizona companies, with RED based in Phoenix and Globe in Scottsdale. Globe serves as the Getz Family Office, a diversified investment company that invests and oversees the Getz family assets. About 50 percent of the family office investments are in direct real estate and real estate joint ventures with an emphasis on the industrial, office and multifamily sectors.

RED played an integral role in converting downtown Phoenix into a lively urban core with the development of CityScape Phoenix, a $500 million mixed-use high-rise property that is home to more than 20 retailers, 224 luxury multifamily units and a hotel.

In February 2022, RED unveiled more details and a new name—PV—for the redevelopment of the 100-acre Paradise Valley Mall in Phoenix. The mixed-use community will have office, retail, hospitality and residential space. The first phase is slated for completion in mid-2024 and will feature a 400-unit apartment community developed by StreetLights Residential, a Whole Foods Market, Harkins dine-in theater and three restaurants along with a 3-acre park and community gathering space.

RED is also building The Grove, a nearly $400 million mixed-use development in Phoenix that will feature three office buildings, a hotel, retail and dining venues, a medical office building and 58 luxury residences when it is completed.