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Warehouse district

I believe we have heard this from before but a PBJ about it:

https://www.bizjournals.com/phoenix/...town-beer.html

Quote:

A former Coors distribution facility in the Phoenix Warehouse District is getting new life as a creative office space.

Montana Avenue Capital Partners and the Humphreys Co. partnered to create what will be called the Lincoln Union, an adaptive reuse of the former Pearce Beverage Co. building on Fifth and Lincoln streets.

“We’ve had our eyes on the area for the last couple of years,” said Eric Schultz, director at Montana Avenue, which also bought and renovated the historic Heard Building in downtown Phoenix.

The companies pitched their idea to the Pearce family, who still owned the building at the time, as a way to build on the warehouse's legacy, Schultz said. The companies bought the building for $7 million last year, and Schultz said it will cost at least that much to transform it into the creative space they are envisioning.

The renovation will take the 64,000-square-foot building and add a second story mezzanine level, bringing the total space to 92,000 square feet, said Mark Stratz, managing director at Transwestern, who is in charge of marketing the property.

“The Warehouse District is important,” Stratz said. “Other cities have these districts with significant historical buildings, and this is an area with grit, with character and it has a story to tell.”

For the past few years, the building has been vacant, which Stratz called a “blank spot” in the area that is growing in popularity for businesses and other uses.

“Once this space is activated, there will be 1,500 to 2,000 people working in this part of the Warehouse District,” Stratz said, adding up the number of employees who will work in the revamped Lincoln Union, plus those in neighboring businesses such as WebPT and Galvanize.

“This has a real and significant feel to it because of where you are,” Stratz said. “You have authenticity.”

The revamp will include preserving much of the historic remnants in the building, such as old signs in place when the property still was a beer distribution space, including one reminding employees not to smoke in the beer cooler, Stratz said. Other quirks to be incorporated include turning the former trucking dock into a covered patio, and keeping some original wood paneling to use inside.

“In my personal opinion, one, it’s the right thing to do, and two, that’s the environment people want to work in,” Schultz said of the historic preservation.

So far, Okland Construction, the company on the project, has almost finished demolition work. Schultz said the goal is to have the project finished by April 2019. SmithGroup is the architect.

“This likely will be a great opportunity for a tech use, or a creative-minded tenant,” Schultz said.

So far, no tenants have signed leases, but there are several in negotiations, Stratz said. The building will be mostly office space, but does have opportunities for retail or restaurant tenants if they find a good match.

http://azbex.com/wp-content/uploads/...I-620x264.jpeg

More Details on the Phase 2 of Park Central.

http://azbex.com/new-purchase-expans...-central-mall/

Quote:

Long an icon of stalled hopes for renovation and redevelopment in Central Phoenix, the area around Park Central Mall continues to blossom into one of the city’s most dynamic areas of urban rebirth.

According to an announcement this week, the ownership group behind the mall property redevelopment “has purchased an additional 21 acres of property and an additional 193KSF building, consolidating ownership of Park Central for the first time in decades.”

Holualoa Companies and Plaza Companies announced plans for a Phase II in the redevelopment process, including a new nine-story residential complex that will go along with the recently announced Creighton University health sciences building.

In September of last year, the companies announced the initial plan to redevelop Park Central, which was the city’s first major shopping mall. The latest announcement says, “The first 337KSF of redeveloped office and retail space will be done in January 2019. Leasing activity for office and retail space is ongoing at the property and interest has been strong in the newly revitalized property.”

According to an Arizona Republic story last October, some of the plans included:
◾The Market: A pedestrian connection to Central Avenue with lots of shade.
◾The Goldwater Building: A large flexible office space in the building that once housed a department store by that name.
◾The Porch: More restaurants and bars.
◾The Hub: Space for entrepreneurs and creators.
◾The Lofts: Work spaces that celebrate the history of the property while incorporating modern amenities.
◾The Yard: Temperate outdoor area for work and play.

At the time, Cronkite News quoted Phoenix Community and Economic Development Director Christine Mackay as saying, “I think it’s going to turn into the hip, cool new place to hang out.”

Creighton University

That was all well and good, then last month another major announcement raised the area’s interest and prominence even more when it was announced private Jesuit college Creighton University would build a new medical school at the mall next to St. Joseph’s Hospital and Medical Center.

The initial announcement referenced plans to construct a 200KSF building for 800 health sciences students. “The expansion will include a four-year medical school, nursing school, occupational and physical therapy schools, pharmacy school, physician assistant school and emergency medical services program. A second building adjacent to the first may be added in the future,” the announcement said.

However, an article in Phoenix Business Journal revealed plans for two 150KSF buildings in two phases totaling a projected $150M investment.

The Latest Expansion

Wednesday’s announcement by the companies details the $28M purchase from Park Central Mall LLC of 21 additional acres for Phase II of the redevelopment. According to the release, the next phase will include:
◾A nine-story multifamily residential development on the southern portion of the property;
◾A 2,000-space parking structure in partnership with the City of Phoenix through a Community Facilities District;
◾The new $100M, 200KSF Creighton University health sciences campus, which will bring a four-year medical school to the property as well as serving several other medical disciplines;
◾Redevelopment of the just-purchased 193KSF building into modern office and retail space;
◾And, the potential for additional mixed-use development that could include more multifamily construction, a new hotel, senior living and entertainment uses.

Regarding the latest announcement, Stan Shafer, COO for Holualoa Companies, said the purchase of the additional 21 acres will make the area more dynamic as part of Phase II.

“We are very pleased with the progress of the first phase of the new Park Central and the impact it will have on the central city,” he said. “However, with the additional parcel now under our ownership, we have an opportunity to do even more with Park Central to create a true hub for economic development for the region.”

Sharon Harper, president and CEO of Plaza Companies, said, “With Phase II now included, the entire property is now put back together with a master vision for its future. The synergies, benefits and impact are much more that they could have ever been if we were only able to do the first phase of the project. Between the impact of the new construction, the Creighton facility and the revitalized former mall space, Park Central will truly become an economic engine for Phoenix’s urban core.”

Just drove by the warehouse district building a couple of days ago.

Phase 2 of Park Central sounds engaging. :tup:

The Fillmore News

So what our Over/under of this actually happening??? Didnt realize this was the same company doing the Sprouts/apartments in Midtown, that gives me some hope. I posted a duplicate in the Fillmore page

https://www.bizjournals.com/phoenix/...-for-140m.html

Quote:

High Street Residential, a wholly owned subsidiary of Dallas-based Trammell Crow Co., is in escrow to buy a vacant parcel of land in downtown Phoenix with plans to build a $140 million mixed-use project.

To be built in two phases, the first phase will include a seven-story, 342-unit apartment complex and 7,000 square feet of ground-floor retail and restaurant space on about 3 acres at the southwest corner of Fourth Avenue and Fillmore Street, said Paul Tuchin, senior vice president for Trammell Crow.

Groundbreaking for the first phase is expected during early first quarter of 2019, with total development costs estimated at about $70 million. It would open during the fourth quarter of 2020.

Quote:

General contractor is UEB, while project architect is ESG.

The Fillmore will include a pool, fitness center, club room, work-from-home spaces and a sky lounge on the seventh floor facing downtown, Tuchin said.

The second phase on the remainder of that 7.5-acre parcel would include upward of 350 apartment units and another 7,000-square-foot restaurant and retail space.

An urban paseo spanning from Fourth to Sixth avenues will be designed to accommodate walking, biking and vehicle traffic, Tuchin said. It will include shade structures and be heavily landscaped.

Total development cost for both phases is estimated between $140 million and $145 million, he said.

Tuchin said he's excited to play a part in the changing landscape of downtown Phoenix.

"With the addition of light rail, ASU’s downtown campus, the Phoenix Biomedical Campus, and the continued employment growth, downtown Phoenix has undergone a complete resurgence over the past decade," he said. "As one of the largest metros in the country, it’s exciting to see our downtown become a true urban core with the addition of great new restaurants, bars, public markets, music venues and a variety of new housing options."

This downtown project comes on the heels of another High Street Residential project on the southwest corner of Seventh Avenue and Osborn Road in midtown Phoenix.

Called the Osborn Marketplace, that $55 million redevelopment effort includes the transformation of an old Bashas' grocery store into a Sprouts Farmers Market, a Starbucks and a five-story, 190-unit apartment complex. Retail tenants there include Jamba Juice, Jersey Mike’s, Orange Theory Fitness, Keep It Cut and Midtown Nail Lounge.

While the project's retail portion is operational, the $40 million apartments are expected to open during early second quarter of 2019.

I know it’s probably a few years out, but I hope phas 2 has some height to it. Maybe a mid to high rise (8-15 stories) would be a great addition. Given the capital behind the project a Type 1 deal may be possible and with all the new height coming to downtown in the next 3-5 years, developers may follow suit if costs make sense. Glad to see this moving along!!

Every day I learn

Quote:

Originally Posted by Obadno (Post 8344550)

I now recall reading about High Street Residential in the Dallas Business Journal but had no idea they were a subsidiary of Trammell Crow Co. That led me to ask the obvious question: "what's the difference between High Street Residential and TRC or Trammell Crow Residential?"

I couldn't find a clear answer but it would seem that High Street Residential focuses strictly on urban properties which may include mixed-use while TCR has been building in urban centers it's Alexan brand can also be outside of the urban core. It would also seem that High Street Residential is more of a project by project creation and likely more distinctive than TCR's more pedestrian and typically repeated design/floor plans.

CORRECTION: What I missed, mhays from Seattle was able to enlighten me.

Quote:

Originally Posted by mhays (Post 8345161)

I understand that Trammell Crow Co. has no relationship to Trammell Crow Residential.

Quote:

Originally Posted by Obadno (Post 8344111)

http://azbex.com/wp-content/uploads/...I-620x264.jpeg

I drove by yesterday and saw the beginning of this structure going up.

central station deets

https://www.bizjournals.com/phoenix/...-downtown.html

One of the central blocks in downtown Phoenix could be transformed into a mixed-use development with two high-rise towers.

The city of Phoenix selected a proposal submitted by Electric Red Ventures LLC, a company owned by Houston-based Medistar Corp., for redevelopment of the Central Station transit depot.

The 2.6-acre site is bounded by First Avenue to the west, Central Avenue to the east, Polk Street to the north and Van Buren Street to the south. Developments submitted to the city were required to incorporate the two light rail stops and bus station on the parcel into the design.

The winning proposal features two high-rise towers that will include:

150 hotel rooms
300 market-rate residential units
217 units of student housing totaling 600 beds
47,350 square feet of ground-floor retail, restaurant and grocery uses
35,350 square feet of office
A 300-foot, 30-story tower will include the apartments and hotel. A smaller 200-foot, 18-story tower will include the student housing component. A third, three-story building will be on the site, according to information from the city.

The development’s construction is projected to have a $362 million economic impact, $127 million of which will be wages. According to an economic analysis done for the project, the development will create 1,249 permanent jobs.

Early building renderings show roof terraces with plants, and plans call for dining and retail uses along all streets, sitting space and water features. The buildings will have underground parking to include spots for the public using the restaurants and stores.

Plans call for Greystar to manage the apartments and student housing, InterContinental Hotels Group to manage the hotel, Poag Shopping Centers to manage the retail and Medistar to manage the office space.

The city released a second request for proposals to redevelop the site in June. It went through the process before for the site in 2013. During the initial planning process, developer Bill Smith of Chicago-based Smithfield Properties died. His family opted not to continue the process and sent the city back to the drawing board.

The proposal now will have to go through the city’s approval process and is expected to be before the council sometime in spring 2019. According to the proposal, Medistar expects substantial completion on the project by March 2023.

[/QUOTE]

wish it was taller and more signature but its a reputable builder and a decent size.

I accept but I am not impressed if it is indeed 30 stories the rendering scale is off.

https://i.postimg.cc/J4w7dGM3/screen...-940-107-0.png

During the Grand Avenue Festival, the former Armory building on 16th Avenue and Roosevelt will be open for tours. Beatrice Moore has the story courtesy of the Arizona Preservation Foundation:

Quote:

You can tour this amazing 40,000 sq. ft. national Guard Armory building, just renovated for creative space by the new owner, during this year's Grand Avenue Festival "Under the Vintage Roof" tours. This is the first time the building has been open to the public since it's construction in the early 1960's. Tours begin here, 1614 W. Roosevelt. St., on Saturday November 10th at Noon, 1pm and 2pm. There is also free parking at the site and a small bus that will connect to the rest of the Festival route (which is within easy walking distance).

Visitors will then travel by foot to a couple of other nearby sites, the Phoenix Four Square Church (adobe), and the Shaughnessy buildings (commercial storefronts constructed in the late 1920's and early 30's).

wow, breaking news https://brewaz.com/breaking-news/for...ix-apartments/

Is this the site of that long stalled "Ballpark Lofts?"

With construction to begin in 90 days!!!

Quote:

Originally Posted by gymratmanaz (Post 8348243)

With construction to begin in 90 days!!!

Would’ve loved to see 6-8 stories. But I guess it’s a start.

Can't wait to see how it works out for them down there.

It's great to see things moving south. Hopefully it helps bring more entertainment venues to the area.

Thinking the same....someone is finally moving further south. This will definitely encourage more!!!!!! Plus it is KJ!!!!!!!!!!

It also looks like they are keeping the historic 1900 buildings which is nice. Maybe that's where some of the retail will go. Could make for cool adaptive re-use restaurant spaces.

More Construction news

I think its clear now that PBJ uses us for their development research, look at the gallery for this article: https://www.bizjournals.com/phoenix/...tml#g/442019/1

So when will the illustrious business journal credit our hard work? Never.

Article: https://www.bizjournals.com/phoenix/...-downtown.html

Quote:

The downtown Phoenix skyline is about to undergo a dramatic change as more than 5,700 apartment units are under construction or being planned in this revitalized section of town.

The downtown Phoenix area has gone from barely maintaining an eight-hour economy to truly being an 18-hour economy, said Christine Mackay, economic development director for the city of Phoenix.

That's not just from the addition of more residential units, she said. For a closer look at projects being planned or under construction, click on the gallery.

"That residential is what's bringing the workforce — that is being followed by the jobs," she said. "It's drawing the workforce down into the central city."

Plus, Fry's Food Store is expected to open at First and Washington streets by the fourth quarter of next year.

Todd Sanders, president and CEO of the Greater Phoenix Chamber, said downtown's revitalization is making it a popular place to live and do business.

"Downtown Phoenix is no longer an 8-5 spot; the addition of housing, retail, restaurants, and commerce have made downtown an active and thriving place to be all day and all night," Sanders said.

Since 2004, downtown Phoenix has been fueled by tremendous economic development activity, including $5.03 billion investment by companies that have redeveloped a 1.7-square-mile area in the heart of central core, said Thomas Brophy, Phoenix-based ABI Multifamily's research director.

Brophy's research shows downtown Phoenix currently has 6,121 total units across 101 separate properties. Of those, 2,269 units within 16 properites have either age/affordable/student housing restrictions.

As of Sept. 10, there were six properties totaling 1,428 units under construction, Brophy said in his report.

Sara Scoville-Weaver, business development manager for Downtown Phoenix Inc., said she counts about 5,700 units either under construction or being planned in downtown Phoenix, which is bounded by McDowell Road on the north, Grant Street on the south and Seventh Street and Seventh Avenue on the east and west.

Scoville-Weaver said she sees more businesses returning to the downtown core, especially high-tech companies taking up adaptive reuse space.

"We have over six co-working spaces operating downtown," she said. "We still have a way to go. We recognize that. But we're definitely getting there."

Can anyone sand me information for the Cambria Hotel and the apartments at 3rd avenue and McKinley for the run down thread?

Quote:

Originally Posted by biggus diggus (Post 8348504)

Can anyone sand me information for the Cambria Hotel and the apartments at 3rd avenue and McKinley for the run down thread?

Biggus, on the rundown thread you show the central and Adams building as the Berger hotel? When did we find out the hotel name/brand ?

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