Phoenix Development News (3)

[PHXFlyer11]

Originally Posted by airomero83

Definitely. The Grand Sheraton sale is still on-going as well IIRC

I haven't heard anything on that lately. I know they ran into some snags, but wasn't that supposed to net around $300M? With the article recently about hotels booming downtown, I'd think it'd be easier to get asking price now.

Even if they netted $350M between the projects, that would be huge. I would also hope they could do something with development rights as they pertain to the new arena. I know Sarver wanted to put in a W before so my hope is that something like this would be part of the deal.

[LocoPhoenician]

Originally Posted by PHXFlyer11

I am keeping my eye on this, as proceeds could be used towards a new Suns arena...

If the arena is built it should be a dual Suns/Coyote arena to stop all this multiple new arena BS.

[fawd]

Originally Posted by LocoPhoenician

If the arena is built it should be a dual Suns/Coyote arena to stop all this multiple new arena BS.

Totally agree....

But never going to happen. Time to let this pipe-dream go!

[Cardsfan]

I would like to see a new unique idea for a combined Suns and Coyotes stadium downtown that would resemble Arthur Ashe stadium in New York. Open roof hockey on cool winter nights and partial or full open roof basketball wind, temperature and league permitting. I believe this would provide a new uniqueness adding to the value of both franchises. I assume it would most likely guarantee future All-Star games from both leagues as well. It could also add additional event booking options for non game nights. One can dream, right?

http://cdn.newsday.com/polopoly_fs/1..._960/image.jpg

[Jjs5056]

For the nth time, all lots remaining south of Garfield and east of 4th st are slated for development by the PBC. The lots between Garfield and McKinley were purchased by ASU and a billionaire doctor. The two lots will contain a Pharmaceutical School and medical space, as well as a 2nd lowrise sprawled Cancer Center two blocks from UAs which couldn't even fill its entire lot. This part of the PBC needed to be a true urban campus; using the historic buildings on the 4th st triangle for local yoga, fitness, and health spaces and an exhibition urban garden filling out the property; A Sprouts/H-Health/Mountainside Fitness anchored research/office space; trade schools; residential along 4th st/Garfield, including live/work units for alternative medicine, florists/gift shops, cafes, physical training; a Vterinarian School, Hospital, and Dog Park... true, 24-7 mixed use development.

I would not get too excited over either AZ Center or the Larry Ortega project; there are no concrete details re: the first which makes me believe it is just a rehash of the prior statements about the potential for future development on-site. If a hotel brand had been landed, they would not be coy. And, Ortega was "signing contracts" for the Circles building 5 years ago and we saw what happened there.

Good info on Barrister permits noting the 20-story tower! It's too bad the north side of Jefferson is so god-awful because from Luhrs through Chase is some solid projects. With these units, CityScape, Block 23, and the Luhrs/Palomar Hotels, I hope both Luhrs and Barrister can draw in some good retail tenants. I am still hoping TSA ends up just being renovated as the thought of a new superblock elsewhere is terrifying and the location is pretty perfect now. A refresh of the retail mix, entertainment on the former W site (like the proposed Rock n Rock HOF, House of Blues, Alamo Draft House), true "Paseo" of bars and restaurants connecting to Jackson, parking wrapped in affordable lofts and retail along Jackson, and a retail-parking-office-hotel where the garage sites would be a perfect layout.

I also wish Block 23 would hold off just a bit until it could support a second office or hotel tower... I am finding it hard to be excited at what is essentially a garage and residential tower on a prime, central block. The lack of retail will also be a missed chance to connect the dots. Oh well.

[Jjs5056]

Also,

1. Someone had asked about a potential West Elm going into a space on Central; indeed they are. They will be setting up a commercial showroom on the 2nd floor of Atmospheric Interiors according to dtphx.org; would love to see real retail on Central./

2. The Pemberton House on 2nd St near Hance is being turned into a law office... better than vacant, but lame nonetheless.

3. Still in love with the Renaissance work, but I have to say the Central, 1st, and Monroe frontages are disappointing. Putting something as small as the Starbucks onto 1st on one end, and filling the ground floor of the Monroe portion with a larger restaurant would have done the trick, with patios and murals along Central to mask the dead space until HGI. I hope HGI fills its spaces and pulls through with something for the historic Lodge since this area has so much going for it.

4. Of course, after posting about how devastating it would be to demo the warehouses east of Cooperstown, I saw that indeed that is what has happened. I have an attachment to the Warehouse District and have seen such potential in it , but that really calls it 'game over' now. The rapid transformation to accommodate small startups with a need for insane amounts of parking was an obvious sign that a retail/entertainment district was a pipedream, but I still held hope for the area adjacent the sports venues. With the former Brickhouse being turned into another office space along with the building adjacent Dudley and the demolition of super cool storefronts along Central for... office space... even this area is a loss.
.

Those who hate my posts can officially tune out now:
Imagine if TSA was redesigned to activate Jackson and it fronted the now-gone set of buildings? Cooperstown, its twin being turned into a mid-scale Wine Bar/lounge, the back warehouses containing post-game fun [Hookah Lounge and Mediterranean cafe, Karaoke Bar, Sushi restaurant], and the eastern-most building housing a brewery in its 2 floors... all restored to their brick facades, facing into an open courtyard filled with vendors on Game Days. Then, the entire block from 1st-Central had unlimited potential, from a Legends HOF in the Chambers upper floors, a revitalized music house in the Brickhouse, a reBar concept next to Dudley, pop-up boutiques facing Central.

[exit2lef]

There have been complaints here about the usage of the former Roosevelt Tavern space for storage. A friend has reported there is now a for rent sign out front, so there is hope.

[ASU Diablo]

Project moving along albeit at a slow pace. Hopefully after this weekend and the exposure it will receive due to 3-day Final Four Music Fest activities, fundraising picks up.

http://www.azcentral.com/story/news/...enix/99424598/

[exit2lef]

This article describes a pizza place that will open at First Street & Garfield as part of a project called "the Churchill." Is this going to go in the vacant lot on the northeast corner, opposite Matt's Big Breakfast?

[ASU Diablo]

Originally Posted by exit2lef

This article describes a pizza place that will open at First Street & Garfield as part of a project called "the Churchill." Is this going to go in the vacant lot on the northeast corner, opposite Matt's Big Breakfast?

This article?
http://downtowndevil.com/2017/03/28/...ortar-in-fall/

If so, awesome! There's been a rezoning sign posted on that same corner but no one knew what it really was. I believe someone mentioned it would be retail made up of multi-level shipping containers. Now we have a name and what it will be. Great find.

[exit2lef]

Originally Posted by airomero83

This article?
http://downtowndevil.com/2017/03/28/...ortar-in-fall/

If so, awesome! There's been a rezoning sign posted on that same corner but no one knew what it really was. I believe someone mentioned it would retail made up of multi-level shipping containers. Now we have a name and what it will be. Great find.

Sorry for forgetting the link. Thanks for providing it.

[biggus diggus]

The idea is basically a smaller version of this:

http://downtowncontainerpark.com/

[Phxguy]

Originally Posted by biggus diggus

The idea is basically a smaller version of this:

http://downtowncontainerpark.com/

Was there this past weekend. I hope a 40 ft metal praying mantis that spouts fire is also built.

[biggus diggus]

So that thing scared the shit out of me, had my back to it while my girlfriend was taking a picture and it shot a huge plume of fire.

[phoenixwillrise]

Originally Posted by fawd

Totally agree....

But never going to happen. Time to let this pipe-dream go!

That's right it is not going to happen. The Sun's would have liked a new arena of their own but reality says the voters are fed up with sports billionaires being given taxpayer's dollars. So first of all the Sun's do not want the Coyotes in a shared arena. The Sun's however can have a nice cherried out totally rebuilt arena without it having to go to a vote of the people because the city council,(with a loop hole), can authorize the rehab of the existing arena without that vote of the people. Look for them to use the Sheraton Money, when and if they get it, to do just that, keeping the Sun's happy and at all costs avoiding a vote of the people.

[Jjs5056]

Originally Posted by airomero83

This article?
http://downtowndevil.com/2017/03/28/...ortar-in-fall/

If so, awesome! There's been a rezoning sign posted on that same corner but no one knew what it really was. I believe someone mentioned it would be retail made up of multi-level shipping containers. Now we have a name and what it will be. Great find.

Yes, that is correct. Anything that fills in a lot and draws foot traffic south of Roosevelt is great. 1st Street between Hance and Pierce could be really neat -- a unique eatery next door to Matt's, boutique across the street, restored Coronado, local restaurants just north of Pierce in place of Pizza Hut...

[nickw252]

A high-rise residential development is being proposed for downtown Phoenix after the sale of 1.3 acres of land at Third and Pierce Streets.

Clark Street Holdings LLC bought the land for $6.62 million from Third and Pierce Development LLC.

JLL (NYSE: JLL) Executive Vice Presidents John Cunningham and Charles Steele helped broker the deal.

The land is on the northeast corner of Third and Pierce next to the Phoenix Biomedical Campus and near Arizona State University’s downtown campus.

“Over the past decade, more than $4.6 billion has been invested in downtown’s two square miles. Factors ranging from university campus expansions and light rail to corporate and employment growth have also spurred the addition of all types of new amenities and led thousands of new residents to the area – with a great deal more expected to follow,” said Cunningham.

JLL brokers expect 10,000 new residents to move downtown during the next five years.

The yet-to-be-named project joins a number of new, under construction or planned apartments and condos in downtown Phoenix and the Roosevelt Row area.

Details of the size and scope of Clark Street’s project were not disclosed.

“Downtown Phoenix currently has the highest concentration of employment in the state, with more than 71,000 employees in just a one-mile radius,” said Steele. “That is a very attractive statistic for any developer looking to establish an urban, transit-oriented residential community like the one being considered for this site.”

Sounds like great news but there are no details whatsoever. What do the developers consider "highrise"? 8 floors? 10 floors? 30 floors? Either way, it's going on a pretty small lot so it'll have a nice profile even if it's only in the 10 floor range.

http://www.bizjournals.com/phoenix/n...lated-for.html

[CrestedSaguaro]

Originally Posted by nickw252

Sounds like great news but there are no details whatsoever. What do the developers consider "highrise"? 8 floors? 10 floors? 30 floors? Either way, it's going on a pretty small lot so it'll have a nice profile even if it's only in the 10 floor range.

http://www.bizjournals.com/phoenix/n...lated-for.html

Technically, anything over 10 floors....but in Phoenix, it seems 5 floors qualifies

*Edit - Isn't this the lot behind Proxy? Could this be one the proposals they floated a few weeks ago?

[ASU Diablo]

Originally Posted by muertecaza

There was a discussion some pages back about proposal on 3rd/Pierce. I don't recall there being this level of detail:

https://www.phoenix.gov/cityclerksit.../170316006.pdf

If approved, the project will result in three high-rise, multi-family rental residential towers, including 24,500 square feet of accessory commercial space, 646 structured parking spaces and resident amenities ("Project"). The 612-unit development will be constructed in three phases on a vacant 55,979 square-foot site...

Quote:
Developer will privately finance and construct the project in three phases as follows (all numbers are approximate):

a. Phase 1 – 29 story tower with 9,403 square feet of retail/mixed use space, 252 rental units and 225 structured parking spaces

b. Phase 2 – 25 story tower with 11,695 square feet of retail/mixed use space, 204 rental units and 275 structured parking spaces

c. Phase 3 – 19 story tower with 3,490 square feet or retail/mixed use space, 156 rental units and 146 structured parking spaces

2. Developer will attribute 5% of total units, per phase, to workforce housing. The workforce units will include a proportional mix of unit types.

3. Developer will provide 50% of the ground floor retail/mixed-use space for a term of two years to startup incubators, not-for-profits, artist lofts and rotating merchant pop-ups.

I don't have strong feelings one way or another on the use of GPLETs, but this does seem like a better return for the tax break than something like Derby, which I don't believe had any equivalent commitments to workforce housing and artist/non-profit retail space.

Yes this appears to be the same project

[Obadno]

Now this is good news, this is what we need to see if we want some real office development.

http://azbigmedia.com/azre-magazine/...ops-9-year-low

Direct vacancy decreased to 15.9 percent, a 120 basis point decrease from this time last year. The total vacancy level of 15.9 percent hasn’t been seen since the second quarter of 2008. The strong local economy and job creation should drive real estate market growth for many quarters to come. The Phoenix unemployment rate sits at 4.5 percent, only a 10 basis point decrease from the 4.6 percent recorded this time last year.