"Developing a Better Business Model" - Commercial Executive Magazine

The East in theWEST"visionaryorfool?"One year later, after the announcement by the Padres organization that they were going to build Petco Park,DWC bought two parcels of land directly north of what would eventually be centerfield. Armed with the beliefthat this was the right time and right location, Doug designed two residential projects for the land, Parkloft andThe Mark. /// Just as the development of Parkloft was starting, work on Petco Park stopped and financing for thesports complex fell apart. Most experts expected DWC to stop construction as well, but they did not. The localnewspaper even ran a story with the headline: “Doug Wilson, Visionary or Fool?” /// But Doug’s experience toldhim that this was not going to be a permanent end to the ballpark, just a stall, so he continued moving forwardon his $60 million residential loft property. The answer to the question in the paper was “Visionary,” as ThePadres and the City of San Diego latched onto Doug’s belief in the potential of this submarket. New financing wassecured and Petco Park was completed. With the success of Parkloft, DWC moved forward to the second project,The Mark, a $155 million mixed-use development.The newest development project for the DWC team is their first venture in Arizona, One | Hundred | Mill.Based on their success in San Diego, they were on the hunt for one-of-a-kind urban, infill locations for theirnext development project. They looked at Tempe in mid-2000, meeting with the City’s Business DevelopmentOfficer Shannon Selby, but because of economic challenges and not finding the right location, they waited. ///Still, DWC always believed in the potential and the vision of Tempe that Shannon shared with them, so whenthe 2.5 acres on the southwest corner of Mill Avenue and Rio Salado was brought to market, the company knewthat was where their next development project would be. DWC and development partner, Hensel Phelps securedthe former Monti’s La Casa Vieja location in October 2014 and immediately began plans for the project. One |Hundred | Mill, which is the actual address for the project (100 S. Mill Ave.), is a $190 million mixed-use creativeoffice, retail and lifestyle-hotel development. /// “One | Hundred | Mill has been well received within the marketas we are raising the profile of restaurants, hotel rooms and office space in the area,” Doug says. “Since thisproject will be the front door into the Mill Avenue District, we felt using the iconic address as the project’s nameemphasized the commitment to celebrating Tempe and everything it has to offer.”one- of-akindone |hundred| millIn addition to honoring the location, DWC is fully invested in honoring the historic Hayden House that is locatedon the property. It is being repurposed to create a one-of-a-kind indoor/outdoor dining destination that preservesand honors all the historic aspects of the building, while redeveloping it into a new and exciting destination alongMill Avenue. /// The offices at One | Hundred | Mill begin on floor eight and offer abundant natural light andsweeping views of Tempe and Metro Phoenix through extensive glass lines that wrap the building. It also featureslarge, flexible 31,500-RSF floor plates with 10-foot finished ceilings to provide the ultimate modern work space./// In addition to the 10,000-SF Hayden House, the project offers ground floor retail and restaurant spaces inboth towers and a 15-story, 240-room hotel. Construction is expected to begin this year, with the leasing effortfor the office space being handled by Cushman & Wakefield and the retail space by DTZ. /// “We are excited tobe developing One | Hundred | Mill; the timing for us and Tempe couldn’t be better,” Nicholas says. DWC knowsthat timing is everything, and with the company’s unique business model, they will always be ready for the nextopportunities in the market.© Copyright 2015 by MP Media, LLCcommercial executive magazine /// 17