[QUOTE=AZ71;9400541]No, other cities are not scaling back. They're growing. I'm sure everyone has heard Phx is now building what will be Arizona's tallest skyscraper with 47 floors at 535 feet tall. It will surpass their Chase Bldg which is 40 floors and 483 ft tall. It will be a residential & hotel tower.
Tucson really has a problem and I think its with local developers. They just can't make things happen. They dont have the funds or the know-how to pull off large scale projects. 75 E Broadway was Peach Properties and it fell through. They cant even get the old Wig-O-Rama building off the ground. Allan Norville never completed what he bid for downtown. HSL built the FLINN but I dont consider that tall or amazing in any way. Seems to me the only projects of any size that get completed are from out of town investors. Like all the student housing buildings at the UA west gate. I think Rio Nuevo needs to take a good long hard look at local developers and when and if they want to put out bids on land downtown...they need to look for investors in other cities. Its really pathetic after 4 years and every indication this was on track. Even a few months ago that all of a sudden the investor flees.
https://www.abc15.com/news/business/...id7YNnPvORfVy4
And a new 16-story hotel in Tempe. Not a problem for them either:
https://azbigmedia.com/real-estate/1...breaks-ground/
It seems like residential/hotel is the way to go right now. But downtown Tucson seems like it's getting over saturated with hotel rooms, maybe I'm wrong. Fletcher did say there are half a dozen interested developers wanting to build residential units but we can't get higher than 250' which is extremely frustrating. It seems like demand is there.