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200 West Washington Street, 20th Floor, Phoenix, Arizona 85003

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​The first public-private partnership on the Phoenix Biomedical Campus, Downtown, will be the $77 million, 200,000-square-foot Wextord Science+Technology Phoenix campus. The development marks the kickoff of bioscience and healthcare projects in city of Phoenix alone totaling more than $3.5 billion in capital investment resulting in 4.2 million square feet of new facilities and over 7,000 jobs within the next 24 months.



Phoenix sees explosive growth along Central Avenue318Phoenix sees explosive growth along Central Avenue<div class="ExternalClass4C9FBEDC419E4541BD871AA6CA2C2E4B"><p><em><img src="/econdevsite/SiteAssets/Lists/EDNews/AllItems/CENTRAL-STATION-20190417-Polk-and-Central-Looking-South-(Crop-02)-Newsroom.jpg" alt="" style="margin:5px;" />​Steve Burks for Arizona Big Media</em><br></p><p>​​<span style="background-color:#ffffff;color:#424242;font-family:"open sans", sans-serif;font-size:medium;">It has long been an afterthought on where the latest, greatest development is happening in the Valley, but the Downtown Phoenix area is quickly becoming the place to do business or just be. Downtown Phoenix has a distinct air of excitement among real estate developers, with several projects ready to come online in 2019 and plenty more coming in the next few years. There has also been a steady stream of companies opening offices in the downtown corridor, which runs from roughly Central Avenue and Lincoln Street in the South up to Camelback Road. The area spans the Warehouse District, Roosevelt Row Arts District and Midtown.</span></p><p class="p3" style="box-sizing:border-box;margin-bottom:1em;padding:0px;border:0px;font-stretch:inherit;font-size:medium;line-height:24px;font-family:"open sans", sans-serif;vertical-align:baseline;color:#424242;background-color:#ffffff;">The reasons for all of this activity in Central Phoenix are varied. The area is perfectly situated in the middle of the metro area and features city and state government offices and courts. Major freeways are close and public transportation can take you conveniently to Tempe and Mesa in the East Valley.</p><p class="p3" style="box-sizing:border-box;margin-bottom:1em;padding:0px;border:0px;font-stretch:inherit;font-size:medium;line-height:24px;font-family:"open sans", sans-serif;vertical-align:baseline;color:#424242;background-color:#ffffff;">The most consistent answer to the question about what is driving this recent downtown growth is the effect of Arizona State University’s Downtown Campus, which brought 15,000 students to an area that was starving for new life.​<br></p></div>5/18/2019 7:00:00 AM
Chicago developer to start work on high-profile apartment project in downtown Phoenix316Chicago developer to start work on high-profile apartment project in downtown Phoenix<div class="ExternalClassBD6DC05FB51646E8A8E3B3B2E09E831C"><p><em><img alt="UPDATE 20190515 X Phoenix Amenity Deck.jpg" src="/econdevsite/MediaAssets/UPDATE%2020190515%20X%20Phoenix%20Amenity%20Deck.jpg" style="margin:5px;" /></em> </p><p><em>The 9th floor amenitfy deck at X Phoenix has a 4,000-square-foot swimming pool and a 1,000-square-foot hot tub. Credit: Shepley Bulfinch and PMG.</em></p><p><em>Angela Gonzales, Phoenix Business Journal</em><br></p><p> </p><p><span style="font-size:14.66px;">Property Markets Group Inc. is set to begin work this week on a 19-story apartment tower in downtown Phoenix that will include retail and office space.</span></p><p><span style="font-size:14.66px;">Plans include an 8,000-square-foot gym, 4,500-square-foot coworking space and 50,000-square-foot outdoor pool deck. In addition, a 30-foot indoor/outdoor amphitheater space will be built for public art performances and concerts. The project is located on a 2-acre site bounded by Second and Third avenues and Van Buren and Monroe streets.</span></p><p><span style="font-size:14.66px;">The groundbreaking for the project, dubbed X Phoenix, is scheduled for May 15. When the Business Journal </span><a href="" target="_blank"><span style="font-size:14.66px;">broke the news about the project in March</span></a><span style="font-size:14.66px;">, details and total costs had not been finalized.</span></p><p><span style="font-size:14.66px;">Total development costs for the project are about $150 million, said </span><a href=""><span style="font-size:14.66px;">Noah Gottlieb</span></a><span style="font-size:14.66px;">, principal of Chicago-based Property Markets Group.</span></p><p><span style="font-size:14.66px;">And that's just the half of it.​</span></p><p><span style="font-size:14.66px;"><br></span> </p></div>5/15/2019 8:00:00 PM
Health Plans Invest in the Company’s Marketplace Model to Address Chronic Disease, Social Determinants of Health and Addiction317Health Plans Invest in the Company’s Marketplace Model to Address Chronic Disease, Social Determinants of Health and Addiction<div class="ExternalClass2FB159D1A67D40858ED2085AC9F329EB"><p><em>​<img src="/econdevsite/MediaAssets/111W-20170712-111-W-Monroe-St-Building-Solera-on-third-floor.jpg" alt="111W-20170712-111-W-Monroe-St-Building-Solera-on-third-floor.jpg" style="margin:5px;" /></em></p><p><em>Solera Health has the entire third floor at 111 West Monroe Street in Downtown Phoenix. It's the first floor after the building pedestal.</em></p><p><em>Jessy Green and Kay Kelly for Solera Health, SVM MarCom</em><br>​<span style="font-size:14.6667px;">Follo</span><span style="font-size:14.6667px;">wing a year of explosive growth, Solera Health today announced a $42 million funding round led by HCSC Ventures, a wholly-owned subsidiary of Health Care Service Corporation that invests in innovative health care companies working to improve the quality of care, lower medical and administrative costs, reduce complexity and improve consumer experience. The Series C round, Solera’s largest to date, brings its total funding to $72 million.</span><br></p><p>This latest capital infusion will allow the Phoenix-based company to extend the impact of its novel marketplace and payment innovation model which allows health plans and employers to leverage a network of community and digital health solutions paid through medical claims for achieving clinical outcomes. The company currently has more than 60 million lives under contract.</p><p>​​​Solera is committed to changing lives by guiding people to better health in their communities. The company has proven that simply matching people to the program best fit to their needs enhances engagement, drives program success and significantly lowers health care costs. Over the past 12 months, Solera’s network has evolved to support a broader array of lifestyle modification programs, including diabetes management, hypertension, stress, sleep, tobacco cessation, and weight management. This new round of funding will allow Solera to scale beyond its proven model for chronic disease prevention and management to address behavioral health and social determinants of health (SDOH) including food insecurity, medically tailored meals, transportation, falls prevention, and social isolation.</p><p>To further ex​​​​pand the reach and impact of its network, the company recently entered into a strategic partnership with Blue Cross Blue Shield Institute to launch a nationwide program to tackle SDOH at the community level. This unique alliance allows health plans to document health improvement and cost savings through Solera’s curated network of providers and payment infrastructure to address SDOH in a sustainable and scalable way.<br></p><p>“There is no greater vote of confidence for the impact Solera Health is making than a substantial investment from our health plan clients,” said Brenda Schmidt, CEO, Solera Health. “We’ve proven our model’s success in driving results in chronic disease prevention and look forward to expanding our relationships with our health plan partners to help their members holistically manage their health.”</p><p>​​“HCSC Ventures supports growth in transformational companies that share our goals of fostering innovation and increasing the accessibility and affordability of care,” said Sahil Choudhry, assistant vice president, corporate development and venture investments, HCSC Ventures. “Solera Health’s mission of improving people’s health by connecting them with a network of health care solutions is something that truly resonates with us. The company’s innovative network model has already helped millions of individuals change their habits and reduce their risk of developing chronic disease.”</p><p>HCSC is the country’s largest customer-owned health insurer and fourth largest overall, with more than 16 million members covered by its health plans in Illinois, Montana, New Mexico, Oklahoma, and Texas. In addition to HCSC Ventures, several new strategic investors joined the round including Horizon Blue Cross Blue Shield of New Jersey, Blue Cross and Blue Shield of Alabama, Blue Cross and Blue Shield of Kansas City, BlueCross BlueShield of South Carolina, and Blue Shield of California who have a collective reach of approximately 30 million lives. Social impact investor Alliance Healthcare Foundation also participated in the round.</p><p>“At Blue Cross and Blue Shield of Kansas City, we believe that addressing the social determinants of health for our beneficiary populations will b​​​​​e key to our community health program moving forward,” said Bret Oettmeier, president and CEO, Cobalt Ventures, the private equity subsidiary of Blue Cross and Blue Shield of Kansas City. “What Brenda and the Solera Health team are looking to accomplish in this space is unique and we are excited to support the company’s efforts to better address these issues with an ultimate goal of improving care quality while lowering associated costs.”</p><p>Current investors BlueCross BlueShield Venture Partners/Sandbox Advantage Fund, ​​​Adams Street Partners and SJF Ventures also participated in the most recent funding round. With the Series C investment, HCSC Ventures’ Sahil Choudhry has joined the Solera board of directors.​<br></p></div>5/15/2019 9:00:00 AM$42-million



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