Arizona’s Billion-Dollar Projects Reshaping the Future: 2025 & Beyond

Arizona is on the rise, literally.

From Phoenix to Mesa, Scottsdale to Tempe, billion-dollar projects are reshaping skylines, revitalizing communities, and opening new opportunities for residents, investors, and businesses. If you’ve been wondering where the hottest growth in Arizona real estate will be, these massive developments are the key to understanding where value is heading.

Let’s dive into the biggest projects coming to Arizona and what they mean for the future of living, working, and investing in the Grand Canyon State.

Astra Tower in Downtown Phoenix

Downtown Phoenix has long been in need of revitalization, and the Astra Tower Project aims to do just that. Estimated at $650 million, Astra was designed to become the tallest building in Arizona history, standing 542 feet tall with 44 stories of residential, retail, and hotel space.

However, financing challenges have placed the project on hold. The nearby Chase Tower, which has been vacant since 2021, underscores the city’s struggle with filling large office spaces. Until Chase Tower finds new ownership and occupancy, Astra’s future remains uncertain.

Still, if completed, Astra Tower would bring luxury apartments, a high-end hotel, and walkable retail to Phoenix’s growing downtown. This could completely redefine the area as a vibrant urban hub by 2028.

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Vestar’s Legacy Park in Mesa

Heading east, Mesa, Arizona is preparing for one of its largest ever developments: Vestar’s Legacy Park Project. Backed by billions in investment, this mixed-use development will combine:

• 300,000 sq. ft. of upscale retail & dining

• 2,500+ multifamily residences

• A 600-room resort hotel

• 3.4 million sq. ft. of office space

• 20-acre urban park with a man-made lake

Construction begins in 2027, with phase one focusing on retail, hospitality, and residential space. For East Valley residents, this means less driving to Scottsdale or Phoenix for luxury experiences. In fact, Legacy Park could rival Scottsdale Quarter, bringing high end shopping, dining, and entertainment closer to home.

This project has the potential to transform Mesa into one of the most desirable areas in Arizona for families, professionals, and investors alike.

Innovation Parks in Scottsdale & Chandler

Arizona’s economy is booming, and not just from housing. Industrial development is critical to supporting tech, manufacturing, and logistics companies moving into the state.

Scottsdale’s Mac Innovation Park

The Mac Innovation Park in North Scottsdale is a 1.2 million sq. ft. industrial and office development across 11 buildings. With limited industrial space in Scottsdale, this project fills a huge demand, promising more jobs and higher rental growth in the area.

Chandler’s Evasia Park

Just south in Chandler, the Evasia Industrial Park is also on the way. Expected to deliver in 2026, this 327,000 sq. ft. project will attract high paying jobs and support growth from big names like Meta, Virgin Galactic, and TSMC already moving into Arizona.

Bond: Scottsdale’s Premier Co-Working Hub

For entrepreneurs and small businesses, Scottsdale is welcoming Bond, a modern co-working and mixed-use office space. Designed for co-working, podcasting, dining, and business meetings, Bond brings flexibility and sophistication for professionals who don’t want the overhead of traditional office space.

With retail, restaurants, title companies, and even a bank on-site, Bond is more than just shared office space, it’s an ecosystem for collaboration and growth.

Heritage Park Expansion in Gilbert

Gilbert’s Heritage District is already one of the most popular destinations in the East Valley. Now, it’s set for a major expansion with Heritage Park.

Phase one includes:

• 47,000 sq. ft. of retail & restaurants

• 288 luxury multifamily residences

• Public square with water features & art installations

• 300+ parking spaces

This project will nearly double the size of Downtown Gilbert, giving locals more dining, shopping, and entertainment options without leaving the East Valley.

South Pier at Tempe Town Lake

Perhaps the most ambitious of them all, South Pier in Tempe is a $1.8 billion mega-development that will transform the Tempe Town Lake area into a world class destination.

Planned features include:

• 2,300 apartments + 160 condos

• 520 hotel rooms

• 600,000 sq. ft. of Class A office space

• Restaurants, retail, and co-working spaces

• Public art, parks, and trails

• $12 million pedestrian bridge across Tempe Town Lake

• …and yes, even a Ferris wheel overlooking the city.

With a 15 year, seven-phase development plan, South Pier is positioned to become a signature Arizona landmark, rivaling entertainment districts in major U.S. cities.

What These Projects Mean for Arizona Real Estate

From luxury high rises in Phoenix to mixed use lifestyle centers in Mesa and industrial growth in Scottsdale and Chandler, Arizona is experiencing a wave of development that will shape the state for decades.

For homeowners and investors, these projects highlight where growth, and value, will be strongest:

• Phoenix (Downtown revitalization)

• Mesa (Luxury mixed-use & urban parks)

• Scottsdale/Chandler (Job growth via industrial projects)

• Gilbert (Cultural & lifestyle expansion)

• Tempe (World-class urban living by the lake)

If you’re thinking about buying, selling, or investing in Arizona real estate, now is the time to position yourself in these value-added areas before prices skyrocket.

Final Thoughts

Arizona is not just growing, it’s transforming. Billion-dollar projects like South Pier, Astra Tower, and Legacy Park are redefining the state’s skyline, economy, and lifestyle. Whether you’re a resident, business owner, or investor, understanding these developments will help you stay ahead of the curve.

Ready to find your place in Arizona’s future? Connect with my team today, we know these growth areas inside and out and can help you secure the right property at the right time.

For a full video guide, make sure to check out my YouTube Video Here

And if you are looking to buy or sell in Arizona, we would love to earn your business! 

Cole@whitelabelaz.com or text us directly at 602-350-5624

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