Demolition permit issued for the 1-story office building that is slated for the Omninet West development.

Omninet West: https://www.phoenix.gov/pddsite/Documents/Z-26-15n.pdf

The amount of multi-family residential projects in downtown and midtown is mind-boggling to me. I would love to see accurate population statistics for the last 6 or 8 years. Given that I don't live or work in downtown anymore, I'm blown away by the progress every time I drive through the area (including last weekend).

Now I wish there was a similar amount of commercial office space under construction.

It's surprising that Tempe has such a stranglehold on new Class A office construction. I'd love to see the skyline expand NE with office towers on the vacant lots near 4th St. & Pierce/McKinley.

It takes sometimes decades for office towers to be built in CBD districts. There's available land, financing and high vacancies to deal with. Maybe the fact that the new Block 23 is only offering three floors of "creative" office space because they can't pencil out a high rise. I personally think a new 20-25 story tower could see big tenants moving in especially if there are large contagious spaces available. Tempe has the land and corporate campus-style developments are all the rage and it's where millenials want to be.

I wouldn't be surprised to see growth in reverse commuting -- people who prefer to live in an urban environment but who are employed by companies in suburban office parks. Anecdotally, I already know several downtown Phoenix residents who fit this pattern, and if office construction continues to lag residential, the trend may grow.

I'm actually one of those people, luckily I work from home for the most part,lol, but my office is in north Phoenix. When I do have to drive to the office it's nice because you drive in the opposite direction of all the bad traffic. I think that would be appealing for a lot of people who do work in the suburbs or North Phoenix.

Many mid-millenials (20 something's) particularly those that are unmarried or childless already do this. they live in Tempe, Scottsdale, Central Phoenix and commute out to the Kierland area, Priest Corridor or deer valley

http://www.bizjournals.com/phoenix/n...on-market.html

An update for the Union Market opening at the US Bank tower.

Golub & Co is selling a the block south of Van Buren near Crescent Ballroom and just west of the Bankruptcy court.

http://www.bizjournals.com/phoenix/n...ix-parcel.html

Paywall But its the block bound by Van Buren, Monroe 3rd Ave and Second Ave.

For any of those in the world of development is this good or bad?:shrug: do they want to offload it or do they think a developer might want to buy it and build?

Here you go, gents.

Chicago developer puts big downtown Phoenix parcel up for sale

Chicago-based Golub & Co. has put one of the few remaining undeveloped downtown Phoenix blocks up for sale.

Golub has brought on Cushman & Wakefield’s Mark Stratz and Don Arones to market the sale of 200 West Monroe Street. Cushman & Wakefield is helping a Chicago developer sell a downtown Phoenix property that takes up a whole city block. The block is bounded by Van Buren and Monroe streets and Second and Third avenues.

Golub had proposed an office tower for the site back in 2011 which is just west of the U.S. Bankruptcy Court building and north of Phoenix City Hall. It’s also near Crescent Ballroom and some food and entertainment venues being developed on the downtown’s west end. Stratz said there hasn't been demand for an additional 400,000 square feet of office space in downtown Phoenix.

He said a new buyer could possibly look to build apartments or condominiums on the property. The city of Phoenix has been bullish and welcoming of multifamily developments downtown. There have been thousands of new apartment and condos built or in the construction pipeline slated for downtown.

Stratz said there are very few full block parcels left to develop in the city’s core. “They really don’t exist,” he said. The property is currently home to a closed auto repair shop building and a surface parking lot and is a couple blocks from the Metro light rail line. Stratz said there is not a list price on the Monroe Street land. “It’s unpriced,” he said.

The Circles Records building sale earlier this came in at $70 per foot. An apartment project is proposed for that property at McKinley Street and Central Avenue.

Mike Sunnucks writes about residential and commercial real estate, government, law, sports business and workplace issues.

That's really good news. Golub's proposal was complete and utter garbage:
http://nitnelav.com/gollub/gollub3.jpg

National developer could bring big apartments, mixed-use to downtown Phoenix block next to ASU

Mike Sunnucks
Phoenix Business Journal

Big national real estate developer Hines Interests LP is looking at buying a city block of downtown Phoenix land at Central Avenue and Fillmore Street.

The property is on the northeast corner, north of Arizona State University’s downtown campus.

It is currently a parking lot owned by private investors.

Multiple sources in the real estate industry say Hines could buy the property and wants to develop apartments likely with some ground-level retail and restaurants.

The possible development is called The Canyon.

The site is one of the few remaining large blocks of space in downtown Phoenix.

Hines spokesman Mark Clegg said the Houston-based development firm does not comment on potential deals before they close.

Another local official familiar with the downtown area and project said Hines has been looking at the parcel for a while and has not yet consummated a deal.

The parking lot is currently used by ASU students and others working or visiting downtown Phoenix.

The Central and Fillmore property sits on the Metro light rail line and is just across the street from the Westward Ho senior housing building.

Real estate brokers said what kind of zoning approvals and easements Hines potentially gets for the property will determine the development’s size and scope.

Scores of apartments are being built in downtown and midtown Phoenix as the multifamily wave continues.

That includes the Roosevelt Row area north of downtown. Trammell Crow Co. has plans for a 600-unit apartment development at Fillmore Street and Fourth Avenue.

Good news for the AZ Center! I believe this is old news, but timelines are now mentioned. Also mentioned at the end of the article is the possibility of a hotel or residential 'complex' coming to the lawn on Van Buren and 5th St. within another year or so.

http://www.azcentral.com/story/money...enix/92772098/

Awesome! I don't see any mention of the AMC downsizing a couple of screens however. That place is always dead, no need to have that many screens. Unless AMC is planning on renovating the theatre soon...

Yes, the Gollub design was absolutely terrible and it's best for downtown that it never panned out. On the other hand, the very same flaws -- overparked, exposed garages, single-use tower, lack of presence along each major frontage -- are things that people seem to be okay with in other buildings downtown, which is a little :shrug: While I was no fan, had it been built, a blighted lot on the west side of downtown would have been filled with a decent-looking tower filled with employees, adjacent to the 111 building, with retail on the ground floor adding to the activity happening at 111 and down near the 4th Ave.

I don't know how attractive a property like this would be; look at how long it has taken to even hear of interest in the Fillmore/Central lot which is in the center of downtown. This would require a megablock development and Block 23 seems to show that there isn't much market for much other than residential right now. I also can't imagine that being surrounded by the Fed building and CenturyLink fortress would be attractive.

But, with quite a few lots being adaptively reused on VB, it would be cool to see a lot developed given the height entitlements in the area. Eventually, residential on Monroe and hotel or commercial on Van Buren would add a lot to the west side.

And, for the 5th (?) time, the AZ Center redesign misses the mark. It's frustrating that they can articulate the problem - the blank face along 3rd Street - and yet their solution is so weak. Adding a car-focused valet will do nothing to enhance the connection between the Center and its neighbors, and will create a large barrier for pedestrians walking the street. How does that pass as a design improvement?

The rest looks merely cosmetic; replacing the current logo signs on the walls with ad-like graphics, more modern materials, etc. Nothing in the renderings save for the new building on VB (which I am sure is speculative) is substantive. Reconfiguring the loading area to allow for 2-3 retail spaces to be built out facing the Sheraton would have been a much more worthwhile investment, though really, the retail portion just needs to be demo'd and replaced with Kierland/CityNorth style retail+residential.

The absence of details re: the AMC, and the mention of money being spent to upgrade the garage are also bad signs. These are probably the two worst components of the Center, create dead zones, and block any connection to the residential area to the north.

New towers would be cool for the skyline but every design I have seen continue the inward-facing design of the others, so I think this Center is pretty much a lost cause.

Where are you getting that information? I cant see anything besides the new "entry rendering" the article on Biz Journal doesn't give any details about what changes will actually be made.

EDIT

http://azbigmedia.com/azre-magazine/...llion-makeover


Does this ease your troubled mind

The only true solution to the problems you note would be demolition of large sections of the complex and replacement with new street-facing buildings. I'm assuming the new owners don't find that a worthwhile endeavor and would prefer to focus on what changes they can make with the existing structures, as over-hyped and cosmetic as those changes may be.

They probably don't need to either, over the next 2 years literally thousands of new residents will be in the vicinity and they will have captive customers.

The AZCentral story has a large rendering of 3rd Street. There is the existing restaurant end-cap a valet replacing the loading dock. Doesn't take x-ray vision to see that no new storefronts have been added.

exit - There wouldn't be much construction work needed at all, actually. Considering that this is the 4th owner this decade who is making cosmetic changes, I have to think the owners realize there is some issue with the design or else they would leave it be. Instead of wasting money every 4 years, condensing the loading dock by converting 1 of the smaller restaurants into back-of-house space would allow for at least 2 new restaurants to fill in the area where the valet is shown. I'm not asking for them to flip the entire thing out, though that should be the end goal. I'm asking for fairly minor reconfiguration so that it isn't a fortress.

Same with the AMC; adding a marquee and box office outside and moving the entrance to the double glass doors is not a hugely expensive endeavor. They have also already divided the interior AFAIK for the corner of Fillmore/3rd Street, so finding a tenant and adding entrances/windows/etc. should ideally already be in the budget.

They are the ones giving the press flowery language on how these design changes will fix the design flaws we all know about. Why is it not fair to critique those comments?