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MESA -- "Hope" is about the best prognosis a Mesa city official can give for the revival of a slumbering downtown redevelopment project. "Long shot" is the phrase used by the unhappy would-be developer.
As has been the case with many recent capital projects in virtually every community, the Mesa dream was dashed by the recession, especially the rapid decline in demand for office space.
As it now stands, the Park Place One Joint Venture is on hold with only three of the 10 acres developed and no city funds in sight to revive it.
That outlook has left Joe E. Woods Development Inc. of Mesa holding the bag after a multimillion-dollar investment in the first phase, according to company president Chuck Walheim.
"To say they're upset is an understatement," says Wayne Balmer, community development manager for Mesa.
"We have …