The city of Surprise, one of several fast-growing suburbs in the West Valley, has historically been known to longtime residents as a sleepy bedroom or retirement community.
"Surprise really is going to be the focus that we can expect many, many people to be keeping their eye on between all of these different projects and being able to still pick up larger tracts of property, versus that's not the case in other competing cities," said panelist Anna Sepic, vice president at LevRose Commercial Real Estate.
is either planned or under construction across the city, including one of the largest shopping and entertainment centers to be developed in the Valley in recent years. "That's that next evolution you're going to see of retail," he added."It's going to be a mixed-use project with retail, entertainment, they're in discussions on an office building now. When you combine that with what already exists at city center, between Ottawa University, the park, aquatic center ... you're really going to create a diverse, central node in the city that acts as a magnet for people to live, work and play.
Jerkovic said that the city has benefited from partnering with BNSF and having rail-served land for industrial projects because of the type of companies they've attracted such as Japan-based IRIS USA Inc. These types of users are"long-term holders" or family-owned businesses that want to grow with the community and make Surprise their home, she added.
In the past two years, the city said it has approved more than 6,000 single-family home permits and about a dozen multifamily projects. As affordable housing remains a concern in the Valley and across the U.S., experts say more apartments will be proposed for Surprise as it gets built out.
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