Interesting little interview with the guy that finished Phase 2 of Edison:

https://www.multihousingnews.com/a-s...f-uncertainty/

Found this on LoopNet.

LoopNet: https://www.loopnet.com/Listing/1121...x-AZ/31877258/
Marketing Brochure: https://www.loopnet.com/viewer/pdf?f...chureFlyer.pdf

The brochure indicates it's located at Pemberton House, but I believe it's actually the adjacent parking lot to the north. I haven't seen this on LoopNet before. The map in the brochure has recent developments and there is a new Kiva recently for the Pemberton Lofts Mixed Use project. So this appears to be something new proposed.

So When I heard they were expanding the CBD I was excited and then I see this:

https://img-s-msn-com.akamaized.net/...=534&h=696&m=6

https://img-s-msn-com.akamaized.net/...=534&h=696&m=6

I really think our city leaders are mentally deficient. Why would you not expand it up central?

Why woudl you expand the CBD into a residential neighborhood, the Ghetto and an industrial dead zone?

Wtf?

The state legislature passed a law limiting cities' ability to gerrymander their CBDs a few years back. Among the requirements are that the CBD must be "compact," can't be more than 2.5% of total city area, and can't be more than twice as long as it is wide. So they likely could not, for instance, have expanded it all the way north to Camelback.

With that said, the original proposal was to expand it to be a cohesive rectangle, from Thomas down to Broadway, and 23rd Ave over to 7th St. After that was proposed back in February-ish, it appears the interested parties got their hooks in a chopped it up. My assumption is Willo/Encanto/Coronado opposed, and the council didn't have the juice to fight them (but that is an assumption).

The CBD designation is mostly expanding the council's ability to give GPLETs and things to developments, and I imagine expanding development south will be easier than expanding north. I also like the idea of eventually expanding down to the river. But that has been an option for decades and hasn't happened, so you're probably right that the long-term problems with developing that direction aren't going to be fixed by this.

The new boundaries go down to Broadway, which is south of the Rio Salado.

I remember this council meeting. The rationale with going this setup is the north (midtown/uptown) does not need the help, they're developing in spite of the lack of special designation and it's already filling up. This area south of the current CBD has nothing and extending the CBD there would allow them to use incentives to promote development.

I remember they were trying to figure out a way to have it go up to Encanto Park/Fairgrounds but the gerrymandering wouldn't allow it without also including the Encanto neighborhood which would've been a non-starter.

The Rio Salado was another one they were really intent on including. The 3rd street pedestrian bridge is seen as one of the catalysts that will bring life into the area. One of the designs they proposed had an amphitheater area on the approach to the bridge.

Nice article on the Monroe Abbey.

https://www.dezeen.com/2024/07/17/jo...y-restoration/

The abbey has a lot of potential if it’s done well it could easily be a unique draw for the city

Nice to see this taking place. I hope they hire a high-end lighting consultant to highlight the architectural features.

A little bit of news on what's going on with the Metrocenter development and why it hasn't started demolition yet. Looks like construction financing to close mid-August and demolition set to begin by end of August. Redevelopment may now include starter homes in addition to rentals.

https://www.kjzz.org/kjzz-news/2024-...ent-in-phoenix

I really really hope that this Metrocenter news means condos and not single family homes within this project. That would be just an enormous waste and disappointment.

Yea, agreed. That was my thought as well.

Biltmore Fashion Park sold by Macerich
 

Hopefully this sale speeds up the development of the new mixed-use tower proposal.

https://www.bizjournals.com/phoenix/...-park-new.html

Seems like development has slowed down a lot or at least these proposals are not getting off the ground. I think about the one on Central north of the canal. The other one next to Central high school. The big lot across from there. I also thought there was a new proposal on McDowell where that old car wash was and also the empty lot North of Portland Broadstone. Anyone have any word on these empty lots?

High interest rates are hurting the multi-family developers right now. Lenders are increasingly sitting on the sidelines. I hear some optimism that this will pass once the Fed reduces rates, but OPM is tight right now.

We have had basically an unbroken build cycle for over a decade we thought it was slowing down back in 2019 only for it to explode again.

Downtown Phoenix launches 1st 3D digital twin
 

Is anyone here a member Phoenix Community Alliance that has access to the 3D models?

https://azbigmedia.com/business/down...-digital-twin/

After about a 12 year building boom has things finally slowed down? Feels like no new projects have come online in months. It has been a long time since that has occured!

It would appear so the increased cost of lending has either slowed or stopped most projects that didn't have financing already and what we've seen start in the last 12 months was all stuff that was ready to go. There are an enormous amount of apartments that will need to be digested downtown and that amount of people is going to drive a ton of new demand for retail downtown.

Even if its a while before we get a lot of new big projects we will probably get a lot of new stores and restaurants and small remodels on the street level to follow at least.

The "Edith"
 

I thought there was a thread for this but don't see it.
Anyway just announced today on PBJ they have pulled permits and are starting construction at the end of September.