Phoenix Firm, Tokyo Company Join in Venture

Work is under way on the $400-million Camelback Esplanade in Phoenix, a joint project of the Symington Co. and Shimizu Land Corp.

The first phase on the 22.5-acre site will include a Ritz-Carlton hotel, an 11-story office tower and about 22,000 square feet of retail space.

Phoenix-based Symington will be the developer, Shimizu will act as the construction coordinator, and HuntCor Inc., also based in Phoenix, will be general contractor.

Shimizu was founded in Tokyo in 1804 and has become one of the world’s largest design, engineering and construction services, with an annual construction volume of more than $6 billion.