Glendale transforms from $30M deficit to $50M reserve, attracts $1B Via Resort

Glendale Marks Decade-Long Recovery: From Bankruptcy Brink to $50M Reserve, AAA Rating, and $1B Resort Boom

On June 11, 2023, Glendale's State of the City address at Desert Diamond Arena delivered a singular message: a city once teetering on the edge of insolvency—comparable to Detroit in its darkest hour—had executed a comprehensive financial and development turnaround that now positions it as a major metropolitan growth engine. Mayor Jerry Weiers highlighted an $80 million net reversal in the city's financial condition over ten years, while announcing the imminent arrival of multiple transformative developments, including a $1 billion Via Resort with an integrated 12,000-capacity concert venue and the world's first Mattel-branded theme park.

Key Speeches

"The only city worse shape than us was Detroit Michigan and they in fact did go bankrupt… but we have a 50 plus million dollar rainy day fund and a bond rating of AAA." — Mayor Jerry Weiers

"Glendale has a different Vision they're very pro-business they know that time is money and getting projects done is great for their community so I think they prioritize those projects for the private sector… we'll look for ways that we can help the development Community grow continue their processes but also looking at their projects and plans from the perspective of a regulator so they come out safe they come out enjoyable for the public but also move at the speed of business." — Kevin Phelps, Glendale economic development

"When I came in it was about 10 years ago in December and the city was in really bad financial condition… we were going into the new budget year so we prepared a five-year forecast and sat down with the council to share with them what things looked like moving into the future." — City Manager (name not provided in transcript)

"From the first day that we met them 278 days later they had a Red Bull facility open and operating on October 5th of 2020… 363 days later for a 1 million square foot state of the art beverage Brewing facility." — Kevin Phelps, describing the White Claw/Red Bull facility permitting achievement

"Virusord is a redefinition of what luxury Hospitality can look like… this is the first ever co-hotel co-auditorium… we have a 40 million dollar concert venue for about 12 000 people that can come in on day passes and watch the concerts as well as their own hotel balconies will actually dual act as a private Skybox to view these concerts." — Grant Fisher, Via Resort president

"The Mattel Adventure Park is quite a special thing it's my life's work and I'm I'm telling you I couldn't be happier about bringing This Magnificent theme park to Glendale it's the first of its kind in the world and it's more than halfway done." — Mark Cornell, Mattel Adventure Park president and founder

Timeline

• Opening remarks: MC John Crow welcomed the crowd; Jerry Weiers previewed a presentation on the city's financial and development accomplishments over the past decade.
• Financial reality check (2013): Jerry Weiers presented the dire financial baseline: the city faced a $30 million general fund deficit, a triple-B negative bond rating, and was counseled by staff to consider bankruptcy.
• Budget presentation: Jerry Weiers walked the audience through a visual breakdown of 2013 revenues ($169M) versus expenditures ($200M), illustrating the city's then-untenable position requiring cuts, tax increases, or both.
• Turnaround narrative (2023): Jerry Weiers presented current financials showing $314M in general fund revenues, a balanced budget, a $50M+ unreserved fund balance, and a triple-A bond rating from Fitch.
• Pro-growth policy videos: Four short films profiled the city's streamlined permitting culture, Loop 303 industrial corridor success (30+ million square feet built; 15–20 million more in pipeline), White Claw/Red Bull facility (278-day permitting record), luxury auto retail (BMW, Range Rover, Volvo), and sports-entertainment district expansion (Westgate, new Pop Stroke facility).
• Via Resort presentation: Grant Fisher, president, described the nearly $1 billion mixed-use resort featuring 1,100 hotel rooms, a $40 million concert venue (12,000 capacity, 100+ performances annually), first-ever co-hotel-auditorium design, white sand beaches, Mattel Adventure Park adjacency, and 1,800–2,000 eventual employees.
• Mattel Adventure Park showcase: Mark Cornell presented the world's first Mattel-branded theme park with 25 attractions, the Bone Shaker Hot Wheels family roller coaster (lift climbs out of the building roof, double helix, re-enters air conditioning), laser tag arena, 4 acres of indoor climate-controlled space, and over 50% construction completion.
• Infrastructure investment highlights: Videos and commentary covered $247M invested in street infrastructure over seven years (2,300 lane miles improved), additional $81M planned, $36M landscape improvements, 230 road miles improved in the past two years, three community center redesigns, Roseline and Foothills pool renovations, Heroes Park lake completion (30-year promise fulfilled), and 30 new citywide playgrounds.
• Public Safety emphasis: Chief Chris Briggs (Fire) and Chief Brian Freeberg (Police) were recognized; videos highlighted $247M infrastructure investment, advanced adaptive traffic management systems, and new firefighter and police officer hiring enabled by financial recovery.
• Veterans Court announcement: Judge Nicholas de Piazza was credited with implementing the West Valley Regional Veterans Court.
• Bond election announcement: Jerry Weiers announced two bond measures for November 2024 voter consideration: $82 million for street and intersection improvements; $78 million for public safety facilities (fire/police stations, training academies, forensic laboratories).
• Closing remarks and giveaways: Jerry Weiers reiterated the city's "strong" state, invited voter support for November bond measures, and presided over prize drawings including two luxury suite tickets to Group Frontera, Yard House gift cards, PBR tickets, Mattel Park and Via Resort prizes, and most notably, four tickets for the inaugural ride on the Bone Shaker roller coaster (two separate winners drawn).
• Post-event photo opportunities: Mark Cornell (in full Skeletor and He-Man costumes from the Mattel Adventure Park laser tag attraction) remained available for photographs alongside Jerry Weiers.

Opposition

No organized opposition was recorded in the transcript. The event was a celebratory State of the City address with no public comment or formal hearing structure.

Support

The event was attended by numerous elected officials and dignitaries, including state representatives, state senators, and representatives from federal offices. Grant Fisher and Mark Cornell presented their respective projects with enthusiasm and detailed descriptions of their vision and Glendale's role in enabling rapid development. The city's department heads (Police, Fire, Public Works, Parks and Recreation) were acknowledged for their contributions to the city's recovery and continued growth. Business and development partners (including Kevin Phelps, Marta Kenny of Yam Properties, and Bob Parsons—GoDaddy founder and Westgate property owner—mentioned in the transcript) were highlighted as key collaborators.

Project Details

Via Resort

• Developer/President: Grant Fisher
• Investment: Nearly $1 billion
• Key components:
  • 1,100 hotel rooms across four towers
  • $40 million concert venue (12,000 capacity)
  • 7,000+ public day-pass tickets for concert viewing
  • Co-hotel-auditorium design (hotel room balconies function as private skyboxes)
  • Kono's Party Island (5-acre swimming oasis with white sand beaches)
  • Wedding venues and nightclubs
  • 12 culinary restaurants
  • 70,000+ square feet of retail
  • 1,800–2,000 eventual employees
  • Targeting A-list and international artists for 100+ annual performances
  • Location: Adjacent to State Farm Arena, Loop 101 corridor
  • Construction status: Underway, ongoing

Mattel Adventure Park

• President and Founder: Mark Cornell
• Status: World's first Mattel-branded theme park
• Key attractions:
  • 25 total attractions
  • Bone Shaker Hot Wheels family coaster (lift exits building, double helix, re-enters air-conditioned interior)
  • 4,500 square foot laser tag arena themed to He-Man vs. Skeletor ("Battle of Eternia")
  • Barbie Beach House and Dreamhouse features
  • Thomas the Tank Engine experiences
  • Largest go-kart track in the world (Hot Wheels branded)
  • 4 acres of indoor, climate-controlled space
  • 8 acres total footprint
  • Construction progress: Over 50% complete
  • No outdoor queue/ride waiting required (all climate controlled)
  • Second Hot Wheels coaster under construction
  • Location: Adjacent to Via Resort in Glendale

Loop 303 Industrial Corridor

• Status: Major growth corridor since 2017 simplification of city annexation policy
• Accomplishments to date: 30+ million square feet of industrial/manufacturing space constructed
• Pipeline: 15–20 million square feet in development
• Key driver: Simplified annexation policy (converted from lengthy, bureaucratic process to shortest, simplest annexation policy)
• Recognition: One of the strongest growth areas in Arizona

White Claw/Red Bull Facility

• Location: Glendale
• Square footage: 1 million
• Permitting achievement: 278 days from first meeting to certificate of occupancy (278 days to full operations; 363 days total including post-opening expansion)
• Status: Operating with expansion underway (distribution center, research center, canning facility added)
• Award: Developers presented city permitting team with challenge coins inscribed "From Roses to White Claw in 278 Days"

Luxury Auto Retail

• Location: Loop 101 corridor, Glendale
• Traffic exposure: 140,000–160,000 vehicles daily on Loop 101
• Brands: BMW, Range Rover, Volvo, others
• Relationship: Business retention and expansion (city had prior relationship with Vantile organization; Cadillac dealership on Bell Road, 2007–2008)

Public Infrastructure Investment

• Street improvements: $247 million invested over seven years; 2,300 lane miles improved; additional $81 million planned
• Road improvements: 230 road miles improved in the past two years
• Landscape improvements: $36 million additional investment
• Advanced adaptive traffic management systems: Installed especially for Super Bowl LIX event; $2 million federal grant secured for expansion city-wide after initial success
• Parks and recreation: 30 new playgrounds city-wide; Heroes Park lake completed (30-year promise); Roseline and Foothills pools completely renovated (replastered, resurfaced decks, repainted, equipment/slides/pumps/drains fixed); three community centers redesigned and reopened

Vote Breakdown

No formal votes were conducted during the State of the City address. The two bond measures announced were proposed for voter consideration in November 2024, not voted upon by City Council at this event.

Bond measures approved for November 2024 ballot:

• $82 million bond for street and intersection improvements (to reduce congestion, enhance safety, enable economic development)
• $78 million bond for public safety facilities (fire/police stations modernization, training academies, forensic laboratories, emergency response infrastructure)

Outcome & Next Steps

The State of the City address concluded with Jerry Weiers announcing that Glendale residents will vote on two bond measures in November 2024. The city's financial trajectory—having reversed an $80 million deficit into a $50M+ reserve with an AAA bond rating—positions it to pursue voter approval for continued infrastructure and public safety investment without emergency tax increases. The Via Resort and Mattel Adventure Park projects are under active construction and are expected to open within the coming years, bringing national and international attention to Glendale as a premier sports-entertainment and hospitality destination. The city plans to redevelop its downtown campus (closing city hall for approximately two years; project cost estimated at north of $80–85 million) without requiring new bond authorization, funded from reserves and ongoing revenues. Future growth is expected to continue along the Loop 303 industrial corridor (80% of the city remains undeveloped) and the sports-entertainment district. The city remains in active partnership with developers and businesses seeking to locate or expand in Glendale.

Controversies & Context

Historical Context: 2013 Financial Crisis

In 2013, when Jerry Weiers took office, Glendale faced a $30 million general fund deficit, a triple-B negative bond rating with a negative outlook, and was counseled by city staff to consider bankruptcy—a fiscal position comparable to Detroit, Michigan (which later did declare bankruptcy). The city's expenditure side ($200M) far exceeded its revenue side ($169M), with public safety and debt service consuming the majority of available funds. Hard cuts to most departments had already been made; further reductions risked public safety or forced default on contractual obligations. The crisis was attributed to financial mismanagement and decisions made by previous administrations.

Pro-Growth Policy Shift

Jerry Weiers and the City Council adopted three core principles: be business-friendly, growth-friendly, and family-friendly. Central to this turnaround was the 2017 decision to simplify the city's annexation policy—converting a lengthy, bureaucratic process into the "shortest, most simple annexation policy"—which unlocked the Loop 303 industrial corridor. This permitted thousands of acres to be rapidly annexed, designed, zoned, and brought into construction, attracting major manufacturing and distribution operations.

Permitting Culture and "Speed to Business"

The city deliberately shifted its regulatory posture from traditional gate-keeping to facilitation. The White Claw/Red Bull facility achievement—278 days from initial meeting to certificate of occupancy for a 1 million square-foot facility—became a marquee example of Glendale's commitment to developer timelines. The city allowed "layering" of permits and site work, enabling construction to proceed in parallel with building review rather than in sequence. This approach attracted attention from other jurisdictions and became central to Glendale's brand as a pro-development municipality.

Post-Super Bowl LIV Momentum

Glendale hosted the Super Bowl LIV kickoff event (Taylor Swift concert) and State Farm Arena's opening, which garnered national and international attention. The city used this visibility to position itself as a destination spot. The advanced adaptive traffic management systems deployed for the Super Bowl proved so successful that the city secured a $2 million federal grant to expand them city-wide.

Regional Positioning and Competitive Advantage

Kevin Phelps and the economic development team noted that earlier attempts to attract luxury auto retail to Glendale had failed when Peoria established itself as the regional auto mall destination. However, the city's sustained business relationships and pro-growth posture enabled it to later attract luxury dealerships (BMW, Range Rover, Volvo) to the Loop 101 corridor through business retention and expansion efforts. This contrasted with Scottsdale's dominance in resort hospitality; Glendale deliberately chose a "fun luxury" and experiential entertainment niche, positioning itself for projects like Via Resort and Mattel Adventure Park that could not feasibly relocate to competitor jurisdictions once anchored.

Developer Testimonials

Both Grant Fisher (Via Resort) and Mark Cornell (Mattel Adventure Park) emphasized that Glendale's permitting ease, pro-growth culture, and clear signals from City Council and economic development staff were decisive factors in their site selection. Fisher noted that the city's "vision" and absence of "ceilings on developers" were differentiators. Cornell echoed that "open arms" from the mayor and economic development team made Glendale the obvious choice over multiple other sites. Both developers positioned Glendale as a municipality that understands the relationship between fast permitting and economic confidence—new business avoids municipalities that appear fiscally unstable or regulatory-hostile.

Bond-Rating Recovery and Investor Confidence

The turnaround from triple-B negative (2013) to triple-A (2023) was repeatedly cited as proof of fiscal responsibility and as an attractor for private investment. Fitch's highest rating signaled to investors, developers, and bond buyers that Glendale was no longer a fiscal risk. This rating upgrade was presented as a direct consequence of budget discipline, debt refinancing (saving millions), and the creation of a $50M+ unreserved fund balance (referred to as a "rainy day fund").

Future Growth and Jerry Weiers noted that 80% of Glendale remains undeveloped, positioning the city for sustained growth. The downtown campus redevelopment (north of $80–85 million) is being undertaken without new voter-approved bonds, a sign of fiscal confidence. Early fruits of the redevelopment announcement included private developer interest in downtown properties (a brew pub renovation following a truck accident damage; potential major hotelier discussions).

Duration

• Via Resort/Mattel Park discussion: ~45 minutes
• Financial presentation and videos: ~90 minutes
• Overall event (State of the City address): ~3 hours

The full state of the city address, including opening remarks, prize drawings, emergency services demonstrations (SWAT rappelling, police dog Micah, etc.), dignitaries recognition, video presentations, and closing remarks, ran approximately 3 hours. The most substantive segments—Jerry Weiers' financial presentation, pro-growth policy videos, and the Via Resort and Mattel Adventure Park presentations—occupied the central 90–120 minutes of the program.

Other Notable Items

Glendale Veterans Court: Judge Nicholas de Piazza was recognized for implementing the West Valley Regional Veterans Court, addressing a longstanding goal of Mayor Weiers. The initiative is now operational and represents the city's commitment to specialized court services for military veterans.

Parks and recreation amenities: The completion of Heroes Park lake (fulfilling a 30-year community promise), renovation of Roseline and Foothills pools, redesign of three community centers, and construction of 30 new playgrounds across the city represent sustained investment in quality-of-life infrastructure beyond major commercial development.

Entertainment district maturation: The city's Westgate area, anchored by State Farm Arena and Cardinals Stadium, has evolved into a multi-venue entertainment destination. The recent Pop Stroke development (mini golf and entertainment) added to a critical mass of 40+ restaurants, retail, and experiential attractions, positioning Glendale as a "one-stop shop" for entertainment, dining, and sporting events—a key selling point for Via Resort and Mattel Adventure Park adjacency.

Context: City Brand Evolution

Glendale transitioned from a sprawling, car-dependent West Valley suburb with a reputation as a "sleepy little town" to a recognized metropolitan destination. The shift was deliberate: the city council and economic development apparatus made a strategic choice to compete not on auto retail (ceding that market to Peoria and Chandler) but on sports entertainment, hospitality, and experiential attractions. The Via Resort and Mattel Adventure Park projects represent the culmination of this rebranding effort, anchored by the financial recovery that made investor confidence possible.