The concrete posts and walls rising out of the ground along the south side of Avenue of the Fountains are a clear indicator of the huge change coming to the Fountain Hills downtown.

About a year from now new residents and businesses should begin to occupy the Park Place development, and all indications are the project is a “home run,” according to Bart Shea of Shea-Connelly Development, who is building the project.

Shea said at this time there is no official process for signing on to move in as a resident or a business, however, there is certainly a lot of interest.

“We have a list of about 100 looking at the residential apartments,” Shea said.

He added that inquiries regarding the ground floor commercial space would account for about 30,000 square feet. Phase one will have 230 residential units and 35,000 square feet of commercial.

Shea cautions that when the time comes to sign a lease, that will separate the serious from those who are just curious in taking commercial space.

The developer will be working with local commercial real estate co-broker the commercial leasing, according to Shea.

Shea added he has been surprised and impressed by the variety of businesses that have made inquiries about commercial space.

The developer is in the final stages of negotiating with Alliance Residential to handle the leasing for the apartment units.

Shea said there should be leasing offices on site around early summer.

Right now the lease pricing is at or below market at $13.50 per square foot for the commercial, and the apartments are expected to lease at about $1.25 per square foot.

Work progress

To date, contractors have moved 50,000 cubic yards of dirt, a lot of which will be reused on site as base material. Some is being sorted for use off-site as rip-rap and landscape materials.

They have poured 8,000 cubic yards of concrete with more than 12,000 yards to go.

Shea said the will begin work this week for the pouring of the post-tension top slab. Framing for the top three floors of apartments will start in about 30 days.

Shea said he expects to submit the plans for Phase II around the end of the year, which should allow progress to continue without breaking. Phase II will extend condominium residential along the Avenue of the Fountains to Saguaro Boulevard and add additional ground floor commercial along Saguaro.

Phase III is an apartment building only at Verde River and Paul Nordin Parkway to the rear of the Community Center.

Shea, who lives in Goldfield Ranch, said he is enjoying the local project to bring completion to the downtown.

He is getting involved in the community as the project progresses. He had contractors assist with the site preparation for the Community Garden, and he said he is also working with the Fountain Hills Theater on a building enhancement project.