CityScape Developer Reaches Another Construction Milestone

 Approximately 2,000-Yards of Concrete Poured at the CityScape Site

RED Development, developer of CityScape, reached another construction milestone today with a continuous concrete pour of the core of the office building.

The operation, led by Hunt Construction and Suntec Concrete, began at 12:00 a.m. this morning and will continue for approximately 7 hours. By day’s end, roughly 2,000 cubic-yards of concrete will create the mat foundation for what will soon be known as the One East Washington Office Tower. The 560,000 square-foot tower, scheduled for completion in December 2009, will be home to Squire, Sanders & Dempsey L.L.P. and the Wachovia Corporation.

“We are excited to see the foundation poured on a project that has been years in the making,” said Mike Ebert, Managing Partner at RED Development, LLC. “An amazing amount of collaboration between the City of Phoenix and our development team was required to get CityScape, Downtown Phoenix’s premier mixed-use project, where it is today.”

In addition to the pour, construction of the new Jefferson Street entrance ramp to the Patriot’s Park garage and removal of the laser light tower is underway. Construction of the new park and associated surface improvements will commence in early 2009 and complete later that year.

“This construction milestone marks an important step for a project that will benefit the city of Phoenix,” said Mayor Phil Gordon. “CityScape is a mixed-use project that brings retail, restaurants, residential, office and hotel space to the heart of the downtown where residents live, work and play.”

Construction on this multi-phase development began in October of 2007. In addition to the office building, Phase I also includes approximately 200,000 square-feet of retail and restaurant space and 1,250 below grade parking spaces. CityScape’s second phase includes condominium units and a four-star Kimpton Hotel Palomar.