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  #5581  
Old Posted Jan 27, 2015, 5:13 PM
ASUSunDevil ASUSunDevil is offline
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Originally Posted by dtnphx View Post
Developer Extends Deadline on $1.2B Tempe High Rise Project

By Mike Sunnucks for Phoenix Business Journal

A Scottsdale development company – with Chinese backing – still plans on buying land from the city of Tempe for a proposed $1.2B mega-development.

TrendEx Holdings LLC missed a Dec. 12 deadline to pay the city $17.6 million for 11 acres of land along Tempe Town Lake. But the developer says it has a 30-day extension to still buy the property and plans on making that January deadline.

The land is located north of Rio Salado Parkway and between Rural Road and McClintock Drive.

TrendEx is partnering with a Hong Kong company, China International Development Investment Corp., on the proposed 2 million-square-foot commercial development.

Scottsdale-based TrendEx wants to build offices, multifamily housing, retail shops and a hotel on the Tempe Town Lake property. It would be one of the largest developments in Arizona – if it ever gets built.

There are several other large developments and hotels under construction or in the works in Tempe along the lake and Mill Avenue area.
If they're having a hard time coming up with $17 million for the land, how the hell are they going to find $1.18 billion to actually build it?

Last edited by ASUSunDevil; Jan 27, 2015 at 5:46 PM.
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  #5582  
Old Posted Jan 28, 2015, 11:42 AM
PHXFlyer11 PHXFlyer11 is offline
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Originally Posted by ASUSunDevil View Post
If they're having a hard time coming up with $17 million for the land, how the hell are they going to find $1.18 billion to actually build it?
This is an old article. It was already posted, along with the one saying the project is officially dead after they still couldn't pay with the 30 day extension.

Was pie in the sky from the start, with a developer who had no (positive) reputation.
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  #5583  
Old Posted Jan 30, 2015, 12:45 AM
azsunsurfer azsunsurfer is offline
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Bros...Discovery Center has the whole corner fenced and crews are actively doing excavation work. Looks like this is a done deal? I think they scaled back the tallest building (9 stories) to about 5 stories now.
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  #5584  
Old Posted Jan 30, 2015, 1:13 AM
Jjs5056 Jjs5056 is offline
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Originally Posted by azsunsurfer View Post
Bros...Discovery Center has the whole corner fenced and crews are actively doing excavation work. Looks like this is a done deal? I think they scaled back the tallest building (9 stories) to about 5 stories now.
Not sure what you mean by a done deal... they've submitted their plan to the City, but the buildings likely under construction are either Site 6 (2-story building for Shutterfly) or Site 5 (1-story building for Chipotle and Mod Pizza) as those were most recently approved. Site 6 is in the back, Site 5 is adjacent to Elliot. Nothing too exciting.
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  #5585  
Old Posted Jan 30, 2015, 1:26 AM
azsunsurfer azsunsurfer is offline
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No....the entire site is fenced all the way to the 101 and site work happening as of this afternoon...
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  #5586  
Old Posted Jan 30, 2015, 1:45 AM
Jjs5056 Jjs5056 is offline
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This just doesn't seem to be a project that's being built on spec; I am fairly certain the offices will be built-to-suit for specific tenants, and that the work being done now is just for Sites 5 and 6, but you could be right of course. The full site plan is contained within this doc:

http://www.tempe.gov/Home/ShowDocument?id=29223

Highest building is 132'
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  #5587  
Old Posted Jan 30, 2015, 4:10 PM
Obadno Obadno is offline
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Originally Posted by Jjs5056 View Post
This just doesn't seem to be a project that's being built on spec; I am fairly certain the offices will be built-to-suit for specific tenants, and that the work being done now is just for Sites 5 and 6, but you could be right of course. The full site plan is contained within this doc:

http://www.tempe.gov/Home/ShowDocument?id=29223

Highest building is 132'
No the previous poster is talking about the other corner, Shutterfly is topped out and finishing up in the NW corner of the campus, Kneaders and these other retail pads are going up at the Southwest corner, But the South East corner is fneced off earthmovers are doing.. something.

That was the spot for the large multi-story buildings, : http://www.discoverybusinesscampus.c...liot-road.html

I havent heared any news about getting a tennant but the Shutterfly just sort of popped up without much warning so who knows maybe they have a couple small tennants, enough to secure financing whoever is doing discovery buisness park is pretty slow on the news updates.
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  #5588  
Old Posted Feb 6, 2015, 11:02 PM
Jjs5056 Jjs5056 is offline
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Random question: did Milk and Honey ever open in the ground floor of W6?

They opened a grocer, cafe, and wine/spirits store in my mom's apartment building in NJ, and stopped paying their bill after about 4 months or so. Their furnishings, even the coolers with alcohol, are still inside - apparently about 6 months since they went under.
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  #5589  
Old Posted Feb 7, 2015, 12:42 AM
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TempeSilverFox TempeSilverFox is offline
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Originally Posted by Jjs5056 View Post
Random question: did Milk and Honey ever open in the ground floor of W6?

They opened a grocer, cafe, and wine/spirits store in my mom's apartment building in NJ, and stopped paying their bill after about 4 months or so. Their furnishings, even the coolers with alcohol, are still inside - apparently about 6 months since they went under.
Yes indeed they did. Been open for several months at least, I want to say probably going on a year soon?
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  #5590  
Old Posted Feb 7, 2015, 4:31 AM
Jjs5056 Jjs5056 is offline
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Originally Posted by TempeSilverFox View Post
Yes indeed they did. Been open for several months at least, I want to say probably going on a year soon?
Cool thanks - I haven't been up close to W6 since it opened.

The store in NJ was pretty nice... decent-sized, good selection, and prices weren't as high as I expected from a niche grocer.

Still waiting for news on Ash/Uni; what a bunch of hype over nothing. From a ~20-story mixed use tower to ~6 stories to waiting more than a year to announce anything... blah. I want Ash to develop now that College is in full swing.
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  #5591  
Old Posted Feb 9, 2015, 3:11 AM
alexico alexico is offline
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Originally Posted by Jjs5056 View Post
Cool thanks - I haven't been up close to W6 since it opened.

The store in NJ was pretty nice... decent-sized, good selection, and prices weren't as high as I expected from a niche grocer.

Still waiting for news on Ash/Uni; what a bunch of hype over nothing. From a ~20-story mixed use tower to ~6 stories to waiting more than a year to announce anything... blah. I want Ash to develop now that College is in full swing.

when I lived at West 6, it seemed to do ok and now with my development going up it will do better too. CVS is the biggest challenge of that place if you ask me.

it seemed very mom and pop, they had the exact same store in NJ?


downtown tempe needs the following
1. Fresh and Easy or Spouts
2. fitness - yes they have Madison improvement club but a gym such as something similar to independent gym in old town. not a fancy big box but a decent place.
3. the warehouse area will soon take off if you ask me. development seems to heading that route
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  #5592  
Old Posted Feb 9, 2015, 5:10 AM
Jjs5056 Jjs5056 is offline
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Originally Posted by alexico View Post
when I lived at West 6, it seemed to do ok and now with my development going up it will do better too. CVS is the biggest challenge of that place if you ask me.

it seemed very mom and pop, they had the exact same store in NJ?


downtown tempe needs the following
1. Fresh and Easy or Spouts
2. fitness - yes they have Madison improvement club but a gym such as something similar to independent gym in old town. not a fancy big box but a decent place.
3. the warehouse area will soon take off if you ask me. development seems to heading that route
Yep, the exact same and with two "spinoffs" - 1 for liquor (since in NJ, you can't sell liquor in grocery/convenience stores) and 1 that was more of a cafe.

I agree that Fresh n Easy (at its peak) would probably make the most sense for the downtown Tempe community. I don't know pricing of Sprouts, so that may work as well. Whole Foods seems like a holdout from the last boom cycle that was aimed at converting Tempe into some upscale Scottsdale-like locale. It won't ever be that; but, it can be what a typical downtown is - an eclectic place that has options for everyone, but with a skew toward students/young professionals, who need a more reasonable grocery solution. However, I don't think downtown has the number of permanent residents it needs yet for ANY grocery store to consider locating there. Hanover remains to be seen, but W6 houses far too many students... downtown still needs dense, market rate residential that attracts young professionals rather than students. That's one of the many reasons USA Place was a great project for the city, and why it'll be extremely disappointing if less than 250~ units are built at Ash/University as prime lots become fewer and fewer.

I'd also love to see a gym downtown. When the movie theater was going to be demo'd, I thought that would be a great location, but now I think the M7 lot would be ideal. It could be on the 2nd floor with ground level retail below and condos/apartments above, with a Phase II tower behind it - either more residential, or a hotel if the currently planned ones fail. Alternatively, since gyms seem to do okay on upper levels, maybe the 2nd floor of the Brickyard could work?

Lastly, yes, it seems like Farmer is doing well with Farmer Lofts II, The Residences on Farmer, and the entire Yard development. I'd like to see more more diversity in the housing offered in the next project and would still really love it if a library branch opened at the corner of Ash/Farmer. That'd be yet another puzzle piece in creating an all-in-one downtown. Also, even though they aren't anything special, I'd rather see the homes on Farmer converted into retail uses vs. being demo'd. Since Tempe lacks true warehouses and older buildings to turn into creative uses, those might be the only chance at seeing some more alternative-style retail that couldn't survive on Mill. I mean, these wouldn't work for all these uses, but how cool would it be for a bowling alley, dinner theatre, filmbar, etc. to pop up along Farmer? Those kind of entertainment uses are what will define Tempe as being all-inclusive instead of just a strip of college bars. The development of Farmer+Ash, and College-Myrtle-Forest is really important for its long-term.
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  #5593  
Old Posted Feb 11, 2015, 9:44 PM
ASU Diablo ASU Diablo is offline
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Thumbs down

Not sure if anyone caught the Jerry Colangelo interview this morning on AZ Sports Radio but he gave an update on USA Place:

"To recap one of the many highlights, he said there are two cities ready to move on the USA Basketball project originally scheduled to open in Tempe. He's hoping he can recapture momentum for the project in Tempe, but he's afraid his timetable will move much faster than Tempe's."

It will be a big blow if Tempe (or any city in Phoenix metro area for that matter) lets this project slip away.
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  #5594  
Old Posted Feb 11, 2015, 10:35 PM
Jjs5056 Jjs5056 is offline
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Originally Posted by airomero83 View Post
Not sure if anyone caught the Jerry Colangelo interview this morning on AZ Sports Radio but he gave an update on USA Place:

"To recap one of the many highlights, he said there are two cities ready to move on the USA Basketball project originally scheduled to open in Tempe. He's hoping he can recapture momentum for the project in Tempe, but he's afraid his timetable will move much faster than Tempe's."

It will be a big blow if Tempe (or any city in Phoenix metro area for that matter) lets this project slip away.
If that's the case, Tempe should work independently with Colangelo for the move. There's no need to wait for ASU to go through its entire RFP process again with no guarantee that the HQ and event center will pan out. Tempe has always envisioned the west side of the Tempe Center of the Arts as an area for amateur sporting; they own a good majority of that land - why not send out an RFP for an office and event center?

Ideally, it would be located downtown, but I don't know that Tempe owns enough land to make something like that work. Perhaps Ash/5th? It would be great if somehow they could gain control of a piece of the ASU parcel for the purpose of this development and fast-track it.
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  #5595  
Old Posted Feb 11, 2015, 11:53 PM
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HooverDam HooverDam is offline
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Originally Posted by airomero83 View Post

It will be a big blow if Tempe (or any city in Phoenix metro area for that matter) lets this project slip away.
I can't imagine Colangelo letting it leave the Phoenix market, that'd be very surprising to me.
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  #5596  
Old Posted Feb 11, 2015, 11:56 PM
Jjs5056 Jjs5056 is offline
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Another piece of land the City could RFP would be the one that just fell through with TrendEx - the Chinese-backed firm - at SouthBank. That would tie in perfectly to the Stadium District.

I wonder what ASU's plans are regarding a new RFP and whether it will be for more than just a hotel and conference center.
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  #5597  
Old Posted Feb 12, 2015, 12:40 AM
PHXFlyer11 PHXFlyer11 is offline
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I wonder if one of the cities is Phoenix?

It's no secret they are exploring options for replacing US Airways Center. How awesome would it be if the new arena was combined with USA Basketball? Sarver would probably be interested and may finally be able to get his W Hotel in the project.
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  #5598  
Old Posted Feb 12, 2015, 1:56 AM
Jjs5056 Jjs5056 is offline
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Originally Posted by PHXFlyer11 View Post
I wonder if one of the cities is Phoenix?

It's no secret they are exploring options for replacing US Airways Center. How awesome would it be if the new arena was combined with USA Basketball? Sarver would probably be interested and may finally be able to get his W Hotel in the project.
Eh, the USA Basketball project would benefit a city like Tempe way more than Phoenix. USAB brings with it only 15 employees, so there's no office tower needed for them to anchor. The true value for Tempe was the events center, which - with a partnership with the amateur Arizona sports association (or whatever they're called) - would be filled with programming year-round. Phoenix doesn't have this problem; USAC is filled year-round with concerts, sports, etc. Aside from bragging rights of being the official training site, there aren't many other benefits to having them HQ'd downtown.

As much as I'd love to see a redesigned USAC, I am still hoping USAB lands in Tempe. It's just one more piece of the puzzle to making it a true urban city: an additional HQ, state of the art events center with year-round programming and tourism, etc.
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  #5599  
Old Posted Feb 12, 2015, 1:47 PM
PHXFlyer11 PHXFlyer11 is offline
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Originally Posted by Jjs5056 View Post
Eh, the USA Basketball project would benefit a city like Tempe way more than Phoenix. USAB brings with it only 15 employees, so there's no office tower needed for them to anchor. The true value for Tempe was the events center, which - with a partnership with the amateur Arizona sports association (or whatever they're called) - would be filled with programming year-round. Phoenix doesn't have this problem; USAC is filled year-round with concerts, sports, etc. Aside from bragging rights of being the official training site, there aren't many other benefits to having them HQ'd downtown.

As much as I'd love to see a redesigned USAC, I am still hoping USAB lands in Tempe. It's just one more piece of the puzzle to making it a true urban city: an additional HQ, state of the art events center with year-round programming and tourism, etc.
Of course we'd all like to see it in Tempe, but if not, I'll take Phoenix as it can really help accelerate a new arena development. I understand USA Basketball itself doesn't have a lot of employees, but they can fill some expensive hotel rooms. I also think there's an opportunity to include a hotel and office tower in the scope of the development.

Ideally if not Tempe, then this is part of a two block proposal that redevelops civic center into the new Suns arena with separate USA basketball facilities on the same block, or on the side of the current US Airways Center. I think you fill those two and then there should be no problem getting a similar Cityscape 2 development on the currently vacant lot next door.
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  #5600  
Old Posted Feb 12, 2015, 3:05 PM
Jjs5056 Jjs5056 is offline
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Originally Posted by PHXFlyer11 View Post
Of course we'd all like to see it in Tempe, but if not, I'll take Phoenix as it can really help accelerate a new arena development. I understand USA Basketball itself doesn't have a lot of employees, but they can fill some expensive hotel rooms. I also think there's an opportunity to include a hotel and office tower in the scope of the development.

Ideally if not Tempe, then this is part of a two block proposal that redevelops civic center into the new Suns arena with separate USA basketball facilities on the same block, or on the side of the current US Airways Center. I think you fill those two and then there should be no problem getting a similar Cityscape 2 development on the currently vacant lot next door.
I really wouldn't like the idea of having an events center adjacent to a new basketball arena. Even if we were to assume the best and USAC is redesigned in a way that activates Jefferson, the event center would essentially be a deadzone just as bad as the Convention Center is now. An arena that is used as practice facility and for high school sports events won't be enough of a draw for there to be a significant retail presence, and while Tempe could fill the extra days with programming since it doesn't have a competing venue, Phoenix wouldn't be able to without cannibalizing USAC. Very likely, the design would be similar to that of Dodge Theater, which is a deadzone on 3/4 of its sides. There is also the risk that USAC won't be designed as well as it should, and there would be a massive footprint of anti-urban fortresses in that area. Honestly, if a practice center of ANY sort is developed, I hope it is built beneath the new USAC. 2 massive city blocks dedicated to basketball arenas seems unnecessary.

I think the hopes that it could lead to new hotel are overly optimistic, as well. 1) With the Lurhs dual-Marriott and Monroe Hilton, I think downtown has finally reached a place where demand = supply. Some even think we've now overbuilt in terms of hotels. So, I think new hotel projects are a ways out. Additionally, USA Basketball would be in town for a very short period of the year; if constant programming at USAC wasn't enough to attract a hotel, this event center with minimal USAB presence and high school sporting events probably wouldn't be. That's also assuming the partnership with Arizona Amateur Sports still happened with a move to Phoenix - they may have only been drawn to the deal based on the proximity to ASU.

Lastly, if an office tower is going to happen for the USAB HQ, then it will happen regardless. They aren't large enough to guarantee funding as an anchor tenant, so the demand from other sources has to be there. And, while again - I'd like to assume the best - past development patterns lead me to believe that even if an office tower were built, it's more likely that it would be built on the empty Colliers/CityScape lot as a standalone building rather than integrating onto the event center block.

I would prefer Phoenix over any other city if Tempe can't have it (except for maybe Mesa since I've been impressed with their downtown efforts), but the benefits it would have for Tempe are just far and away more plentiful than for Phoenix. I also want more than nothing for the USAC to be redesigned, for the Convention Center to be demo'd and replaced with something denser and taller, and for there to be enough demand for added residential, office, and/or hotel towers on the vacant Colliers lot... but, I don't think this would be the catalyst for these developments.

Last edited by Jjs5056; Feb 12, 2015 at 3:17 PM.
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