Phoenix Development News (3)

[pbenjamin]

Originally Posted by nickw252

I don't see any mention of the project's name in the above rendering. Where did this come from?

It came from a presentation packet prepared for the Phoenix Elementary School Board. I only scanned a few pages. The front page says:

Derby Roosevelt Presented by Amstar, Transwestern Development Company.

There are floor plans, property description, etc. If there is anything specific you want to see from it I can scan it or quote from it.

[PHX31]

Does it have height and/or planned start date info?

[Red Robot]

Originally Posted by Tylerrrr

So, the fact that Alta is moving forward with their 7th St. and Camelback project must mean that Elevation on Central is doing well. Wouldn't make much sense building basically the same thing a half a mile east if Elevation opened to a disappointing start, right??

I recently heard that Elevation is 70% leased and averaging 10+ new leases a week. Construction is nearly finished, the remaining units should be available to lease soon. It seems to be filling up very quickly.

Living near the building, the tenants I've observed have been quite diverse in age, plenty of 'young professionals' but also a lot of people in their 50's and 60's. I lament the hulking scale, boring shape, and complete lack of street interaction on Highland and Coolidge, but the additional residents in the neighborhood is a positive thing. Pedestrian activity in the area has never been higher.

[pbenjamin]

Originally Posted by PHX31

Does it have height and/or planned start date info?

No dates.

[PHX31]

/\Thanks. I think the location is perfect. Not only for the building, but for the surrounding businesses like Angel's Trumpet, Film Bar, Cobra, etc. And for once nothing has to be demolished to then build new.

[nickw252]

Thanks for all the info and pics Paul.

That's pretty dense for Phoenix - 211 units on about 1/3rd acre.

[biggus diggus]

holy moly, 295ft is about the size of a standard hotel room. I have studios in one of my buildings and even those are closer to 400ft.

The tendency for studio renters is to be single men sometimes a bit older.

[nickw252]

Originally Posted by biggus diggus

holy moly, 295ft is about the size of a standard hotel room. I have studios in one of my buildings and even those are closer to 400ft.

The tendency for studio renters is to be single men sometimes a bit older.

Hah yeah I looked at the 295 ft floorplan and don't think I could do it (not anymore at least).

Hopefully there's a market for that in Phoenix.

[phoenixwillrise]

Originally Posted by nickw252

Hah yeah I looked at the 295 ft floorplan and don't think I could do it (not anymore at least).

Hopefully there's a market for that in Phoenix.

Well when you read a construction report that says they are building an SRO apt or condo building they mean single room only but I always think of it as Standing Room Only as most everything can somehow relate to sports. Just sayin.

[biggus diggus]

Originally Posted by nickw252

Hah yeah I looked at the 295 ft floorplan and don't think I could do it (not anymore at least).

Hopefully there's a market for that in Phoenix.

I am confused though because the page after says 325-425ft. 400ft is livable, it's even enough room to separate the kitchen from the sleeping area.

[nickw252]

Originally Posted by biggus diggus

I am confused though because the page after says 325-425ft.

I noticed that also. I think we're just missing some of the pages with the other floor plans.

Originally Posted by biggus diggus

400ft is livable, it's even enough room to separate the kitchen from the sleeping area.

I can do small spaces, I just want some separation between my sleeping area and food prep/eating area. I don't want my pillow to smell like grease or have spaghetti sauce stains on it from my dinner prep.

[Jjs5056]

Originally Posted by Red Robot

I recently heard that Elevation is 70% leased and averaging 10+ new leases a week. Construction is nearly finished, the remaining units should be available to lease soon. It seems to be filling up very quickly.

Living near the building, the tenants I've observed have been quite diverse in age, plenty of 'young professionals' but also a lot of people in their 50's and 60's. I lament the hulking scale, boring shape, and complete lack of street interaction on Highland and Coolidge, but the additional residents in the neighborhood is a positive thing. Pedestrian activity in the area has never been higher.

Careful. It isn't very popular to criticize anything being built in central Phoenix for things like creating a superblock, lacking architectural interest, etc. You might get away with noting the lack of street interaction once or twice but eventually, you'll be told that you need to get over it. I could maybe understand this type of defensiveness if the building in question was a skyscraper or even some kind of one-of-a-kind attraction that has value beyond its design, but we are talking about a 5-story apartment on what is supposed to be our most urban street in the metro...

I would not have imagined there to have been increased pedestrian activity (so, this is me saying something positive). I suppose there's a decent amount of retail to the north and if the neighborhood would STFU ,Omninet will add even more; but damn, anything beyond Hula is going to be a bitch to walk to in a few months. There is literally not a single shade tree or structure between Highland and Camelback. What sucks is the dead zone between Pane Biano and co. and Hula's that Elevation contributes to.

How are the actual businesses north/northeast of Hula's? It's a shame if there are some really good places in there, because honestly, those other shopping plazas look absolutely disgusting. With the giant lot west of Elevation, and the side/rear lots available, it would make a huge difference if they filled in their parking with shade, landscaping, and patio/sidewalk space (like the My Florist plaza did). I know Landmark had issues and I doubt its owner can afford to make these changes, but the gap between its retail and the street would even allow for angled street parking to be added, with a large shaded sidewalk moved west a bit.

What they did with 4236 Central (Clever Koi ,etc.) doesn't get enough credit or attention, IMO, because Central is filled with buildings in the same or worse condition/same horrible layout that could be given a similar transformation. Of course, there isn't a single urban residential project in walking distance... sigh.

[Jjs5056]

Originally Posted by nickw252

Hah yeah I looked at the 295 ft floorplan and don't think I could do it (not anymore at least).

Hopefully there's a market for that in Phoenix.

I was confident in there being a market for this project until they announced their prices. If they are pricing 295/325 sq ft studios at $1,000/m, it's going to be a tough sell. Roosevelt Point offers a better product in an established location for the same price: 500 sq ft furnished studios are $1,030. Even Skyline offers 600 square feet for as low as $1,090 though unfurnished.

There IS a market for people who want to live downtown but can't afford 1k per month. You can rent a house with a couple of friends and spend around $500/m; that's a hell of a difference considering that downtown is still transitioning, regardless of how fast. When it was first announced, I thought this project would fit that niche and at least come $200 or so below the neighborhood average. But, at $1,000, they are competing with the existing stock AND likely the units in construction.

That said, I'll have my fingers crossed that it breaks ground and is successful because these are the projects downtown needs. Tall, dense, mixed use infill. Maybe with a successful example, developers will go that route instead of the 5-story single-use plague.

[pbenjamin]

Originally Posted by nickw252

I noticed that also. I think we're just missing some of the pages with the other floor plans.



I can do small spaces, I just want some separation between my sleeping area and food prep/eating area. I don't want my pillow to smell like grease or have spaghetti sauce stains on it from my dinner prep.

Maybe your pillow wouldn't get messed up if it was encased in the closed Murphy bed.

This is the only other floor plan in the packet.

[Obadno]

Originally Posted by Jjs5056

I was confident in there being a market for this project until they announced their prices. If they are pricing 295/325 sq ft studios at $1,000/m, it's going to be a tough sell. Roosevelt Point offers a better product in an established location for the same price: 500 sq ft furnished studios are $1,030. Even Skyline offers 600 square feet for as low as $1,090 though unfurnished.

There IS a market for people who want to live downtown but can't afford 1k per month. You can rent a house with a couple of friends and spend around $500/m; that's a hell of a difference considering that downtown is still transitioning, regardless of how fast. When it was first announced, I thought this project would fit that niche and at least come $200 or so below the neighborhood average. But, at $1,000, they are competing with the existing stock AND likely the units in construction.

That said, I'll have my fingers crossed that it breaks ground and is successful because these are the projects downtown needs. Tall, dense, mixed use infill. Maybe with a successful example, developers will go that route instead of the 5-story single-use plague.

I have a feeling these prices will come down. No way anyone is paying 1,000$ a month for a glorified closet when you can get a real 1 bedroom apartment for only a little bit more.

[Jjs5056]

Originally Posted by Obadno

I have a feeling these prices will come down. No way anyone is paying 1,000$ a month for a glorified closet when you can get a real 1 bedroom apartment for only a little bit more.

I hope so, but isn't now the time to be selling your value proposition? The reason you are building the project? They are basically saying "we are building a project that will give you less for more money!" - not a great thing to expect people hearing that to check out floorplans when/if they are reduced to something more reasonable.

There's been a lot of talk about the need for affordable housing amongst all this luxury development, but I think it's this group - willing and able to spend 700-800 for a smaller place downtown - that is really being left out. And, I would say the precious Milennial generation fits well into this category, especially those on the younger end.

[biggus diggus]

A Porto has been delivered to 4th and McKinley which means construction is imminent.

[Jjs5056]

I'm hoping the City chooses Deco this time around for the West Fillmore RFP. In reviewing the plans submitted the first time around, theirs seems to fit the objectives of the RFP best. They proposed 660 residential units - a mix of apartments and condos - vs. Trammell Crow who proposed 662 apartments. The RFP was pretty clear in that they wanted this development to be a neighborhood vs. a megaproject, and a mix of residential product ensures a diversity in design, as well demographics/income levels. Considering that the only owner-occupied units developed in downtown since Summit were the 3rd Ave Townhomes, I would think providing opportunities for home ownership should count for quite a bit.

http://www.azcentral.com/picture-gal...ment/72979230/

Deco also proposed 10,000 more square feet of retail. I don't think 26,000+ sq ft of retail makes sense right now for that area, but north of Fillmore is almost strictly residential, and with ASU gobbling up 1st Ave, this is really the only spot that makes sense to serve the retail needs of all the residents west of Central. Roosevelt Square is a great example of a project that served as a neighborhood- apartments and townhomes, plus both restaurant/shopping (fair trade coffee, fez, etc.) and service (salon, alterations, insurance agent) retail.

Downtown would also be lucky to have a Deco-quality project, IMO. They've focused on Scottsdale aside from the Edison, and they are some of the most beautiful and high-end looking projects out there.

[Jjs5056]

I don''t think this was ever posted; it's the report that the City requested after DECO lodged complaints about a conflict of interest. It basically confirms that DECO had the better product, and Trammell won only because their financial model would provide the City with payment quicker. DECO tied half of its payment to the conditional sale of the condos.

https://www.phoenix.gov/district7sit...2010-28-15.pdf

Also, the report states that Nowakowski met with a developer for 2 weeks in order to negotiate a grocery store on the corner of 7th Ave and Fillmore that would support their project + this project, but could not reach an agreement. I have to assume this was Wood Partners and Alta Fillmore, and it's a shame they blew their chance to make their otherwise lame project a valuable part of downtown. Alta Fillmore already eliminated the possibility of an E-W street connecting 7th Ave to 1st Ave. A grocery store, though better suited closer to Central, would have given the project a mixed use component that would increase the perception of safety in the area, increase pedestrian activity, and stimulate growth in an area that needs it badly - and that would connect the two separated arts districts. Lame.

[nickw252]

Originally Posted by biggus diggus

A Porto has been delivered to 4th and McKinley which means construction is imminent.

Construction on which project? Isn't the Derby on McKinley between 1st and 2nd Streets, not at 4th Street?