Cypress Development Partners is planning a mixed-use campus in north Phoenix that will include medical and flexible offices as well as retail. Called The Interchange, the project will be developed in two phases and feature approximately 233,500 square feet of commercial space on 23 acres.

The Phoenix Business Journal reports the first phase is expected to include two medical offices totaling 40,000 square feet and 6,000 square feet, a 4,800-square-foot retail with a drive-thru and an 11,200-square-foot retail building. The next phase will feature a 45,000-square-foot medical office building, three flexible office buildings ranging in size from 20,400 square feet to 27,000 square feet, a four-story hotel with 130 rooms totaling 56,000 square feet and a 1,500-square-foot drive-thru retail.

The area is not far from the $65 billion Taiwan Semiconductor Manufacturing Co. project, which is about 15 minutes north of the Cypress property. The project still requires final approval from the Phoenix City Council.

April 10: The leading investors, owners, developers, lenders, managers, brokers, and more will be onsite at Connect Phoenix Multifamily, SFR & BTR – will you? Don’t miss out; register now and join the industry’s leading names in-person on April 10^th to find out what Phoenix & Scottsdale’s rental-housing experts predict for the balance of 2025. Discounted early bird registration is only available for a limited time, so register to attend now! Connect Phoenix Multifamily, SFR & BTR | Thursday, April 10 at The Westin Kierland Resort & Spa, Scottsdale, AZ.