Westgate Center Scrambling to Avoid Foreclosure; Pool Fence Program Reaching Milestone
- Jun 27, 2011
Glendale’s Westgate City Center is facing foreclosure according to several reports that have popped up in real estate news. The Phoenix Business Journal’s coverage on the matter mentions the fact that the two companies that own the land and retail complex that form the center are currently scrambling to work out new financing terms. The economy hasn’t been kind to the 2006-opened entertainment spot, with AMC Theatres, DeVry University and a number of restaurants struggling to keep a decent performance record for the spot. A number of stores have ended their business with Westgate mainly because of the difficult economic climate of the past few years.
Notices of trustee sale have been filed against Entertainment Center Development LLC and Coyote Center Development LLC according to PBJ, both being entities of the Ellman Companies. According to that same story, Steve Ellman acquired Westgate in a swap deal, trading in his ownership of the Phoenix Coyotes. Back in 2005, the hockey team was relocated to Glendale after failure to receive an arena deal on a former Mall site in Scottsdale.
In other real estate news, Health & Safety issues have been addressed in Phoenix during past years regarding a very particular problem. According to The Arizona Republic, Maryvale had a very particularly unwarming record attached to its ZIP code, namely number of drownings in the nation. After a detailed program that used aerial photography to identify targeted homes, a number of 55 residences were found to lack pool fences. The United Phoenix Firefighters Association then started a plan to give 15 fences each summer to households lacking such an amenity.
That all started back in 2003, and the campaign just reached its 700th free pool fence according to The Republic, making the initiative a big hit with homeowners and dramatically reducing the number of pool-related accidents in the area, including Gilbert, Tempe, Scottsdale and Surprise.