The city of Phoenix is considering a development agreement for what the city says could be one of the first large-scale office announcements in the U.S. since the Covid-19 pandemic.

The new development is expected to include a 32-acre office campus with a 300,000-square-foot facility developed by Chevelle Properties LLC.

The first phase is estimated to total a $198 million investment and create or retain 1,100 high-wage jobs, according to a city report, which does not identify the developer or the potential company considering Phoenix for its headquarters due to a nondisclosure agreement.

Through codename "Project Christmas," the proposed development is associated with an upcoming Arizona State Land Department Auction scheduled for Dec. 27, according to state land documents. The state land department is holding an auction for about 35 acres close to the southwest corner of Tatum and Mayo boulevards for a minimum bid of $29.4 million.

The property is located in close proximity to the Desert Ridge Marketplace and the Mayo Clinic campus in north Phoenix near State Route 51 and Loop 101. The developer is currently undergoing due diligence on locations in the city of Phoenix, while a final site will be selected before they enter into a development agreement, according to the city report.

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By Audrey Jensen - Reporter, Phoenix Business Journal