I could've sworn they were going to build another one just like it. I think I might have read it somewhere. Guess someone will have to keep a camera on that area.

West-side story: Waterfront developer has downtown plans
Premium content from Phoenix Business Journal by Mike Sunnucks, Senior Reporter
Date: Friday, June 22, 2012, 3:00am MST

A Chicago real estate developer wants to build a 21-story office tower that would be the first Class A building at the west end of downtown Phoenix.
Golub and Co. LLC, which developed the Scottsdale Waterfront, already has started preleasing the space and will seek property tax breaks from the city of Phoenix for 200 West Monroe. The 330,000-square-foot office building will cover the city block bounded by Van Buren and Monroe streets and Second and Third avenues. A parking lot and a shuttered auto repair shop are on the site now.
The Golub development could have a major impact on the downtown real estate market. While it will compete with older buildings for tenants, it will go head to head with a 400,000-square-foot office building planned by Barron Collier Cos. and Ryan Cos. on the parking lot parcel in between the Collier Center and CityScape.
The Golub and Collier plans are a good indication developers are gaining confidence that downtown Phoenix is recovering from the recession faster than outlying areas. In addition, the 200 West Monroe project would be the first Class A development in a part of downtown that currently consists of government buildings, courthouses and older properties off Van Buren.
“There is an appetite for development,” Golub Senior Vice President John Ferguson said of the downtown market.
He said construction could start next year, with delivery in 2015.
The Chicago developer is seeking property tax breaks from the city of Phoenix to help pay for the project. Many downtown developments, including CityScape, have received tax assistance. The Collier-Ryan project also is looking to secure property tax breaks.
Such aid helps projects get financing. It also allows developers to offer lower rents and better lease terms.
Golub has owned the west downtown parcel for six years and considered office development in 2008, but delayed those plans when the recession and real estate slide hit.
The city of Phoenix will start considering Golub’s plans and request for incentives this summer.
Golub hired Cassidy Turley BRE Commercial brokers Scott Baumgarten, Tyler Wilson and Mark Stratz to market and prelease the building. They are opening a marketing center in the 44 Monroe condo tower, which overlooks the planned development.
“We’re in the process of preleasing right now,” said Baumgarten. “We have quite a few prospects.”
He said Cassidy Turley will target office tenants with leases expiring from 2014 through 2016 and entice local professional businesses with new Class A space. The brokers also intend to recruit companies from California and other states considering moves to Arizona.
CityScape was successful in bringing a number of Valley law firms and other tenants from existing Phoenix locations when it opened in 2010.
Ferguson said Golub needs to get its downtown project at least 50 percent preleased before it can get the financing necessary to move forward with development.
Golub and the Cassidy Turley brokers said the new building’s floor plans will be more open than other downtown buildings. That will allow tenants to lease as much as 10 percent less square footage, offering bottom-line benefits.
Ferguson said floor plans also will allow for more executive and management offices than some current downtown offerings.
Still, the project, like any other in this economy, has to secure financing and overcome continued business frugality.
Jay Thorne, a real estate and business consultant who previously did work for Barron Collier and RED Development’s CityScape project, said Golub and the Collier-Ryan project will be duking it out in the downtown marketplace.
“It would seem that there is only room for one downtown office tower, so it would seem this site is in direct competition with Collier’s Block 23,” said Thorne.
Collier officials have variously considered developing residential, retail and a hotel on Block 23, the area between Collier Center and CityScape; but they have decided to go with offices.
Collier officials did not respond to a request for comment.

21-story. Eh, while I'm sure we'd all take what we can get, I'm starting to think we're never going to see a new tallest. Hell, we may never see anything over 400' again.

I just hope they bring in new out of state firms, I'm sick of new buildings cannibalizing older ones in the City. That sort of thing doesn't help us grow, it just rearranges things.

I'm not necessarily against the City helping w/ tax breaks, but if they do receive them the City better hold the developers feet to the fire about quality. Anything fronting Van Buren should have space for lots of retail, since VB is really our only chance for a Downtown shopping street.

Agreed about holding them to quality and retail, however, Central is our best chance for a Downtown Shopping street, I think... it's got a lot going for it already.

I wonder whatever happened to the rumor about H&M in the old circles building.

Just that it was a rumor. Want me to re-ignite it?

Yeah, but this time mention a better store is thinking about moving into the Circles building.

Well VB has potential for bigger retail, like actual department stores and such. Its zoned for such in the Downtown Urban Form code and VB is also zoned for the tallest buildings in the City. So if we're ever going to see a JC Penney on the bottom floor of a 50 story building, it'll likely be on West Van Buren.

The other thing VB has going for it, is the Az Center is already on it. If you re-orient that area a bit, expand it, you've got the start of a shopping street. Plus the Mercado isn't long for this world, so perhaps when its redeveloped it can be done with retail facing the street, etc.

In an ideal world, 20 years hence, I'd like to see Van Buren be akin to Bostons Boylston street and Central be a bit more like Newbury Street. Central doesn't have a ton of room for big department type stores, so it'll likely have to develop in a more boutique manner, if it ever develops a strong retail presence at all.

Yeah, true... i was more thinking that Central seems to have more old building stock remaining that would make for a better "urban" walking/shopping area. Plus it has the Public market, which, who knows, if things go well it could turn into a daily thing like many public markets around the world.

But yeah, Central would have the smaller and boutique variety.

Honestly I don't ever see a big department store like a JC Pennys opening downtown, no matter where the location.

and in 1945 no one ever saw them leaving. Things change, its hard to take the long view sometime, but saying something won't ever happen seems odd.

Most big cities in the US have at least some retail/department store presence in them, Phoenix isn't going to be an outlier in that area for all eternity, at least we should hope not.

Salt Lake City has a Nordstroms and Macy's in their Downtown. Denver has at least a Ross and a TJ Maxx. If other Western cities can do it, so can we. One of our biggest problems in Phoenix is our amazing self defeatist attitude. Cities and Downtowns can change dramatically in short spans, say 20 years, there's no reason to think Downtown Phoenix can't once again become a vibrant hub of more than just 9-5 office workers.

At the very least we should hope for a CityTarget and thankfully one has been at least rumored in the 2nd phase of CityScape. That would be a good start. Mix that in with the Urban Outfitters, Joseph A Bank, now you're starting to get something.

And oh by the one way of the bigger retailers in the country, PetSmart is HQ'd in Phx- why can't we get them to move Downtown? If the City leaders had a brain (jury is out on this) they'd be bending over backwards to try to lure PetSmart into Downtown, their HQ could have a dog park as part of it (say on one of the unbuilt AZ Center pads where there's also plenty of grass nearby).

EDIT: Here's a great example. Did you know Kahala is base in Scottsdale? I didn't. They're the parent company of Cold Stone, Blimpie, Taco Time and a bunch of others. Why can't we get them lured into Downtown? It would be great to have their tower Downtown with the bottom level being a lobby for the building and then a huge food court with all of their different chains.

It seems like a no brainer to me to get the local AZ companies to step up first and stand behind Downtown before we can ever attract to hope out of state retailers/companies.

I hear Louis Vuitton and Neiman Marcus are doing a joint venture in the old circles building.

I hear it from a credible source.

My source told me it was going to be a joint venture between an Apple Store and an urban Ikea.

No, Richard Branson is opening a Virgin Galactic travel outlet with a 'SpaceShipOne' flight simulator.:yes:

Cold stone (or the parent company) recently (within the past several years) built a headquarters office complex off of the 101 in Scottsdale. Unless they somehow outgrow that complex, or want to start holding land/property, I doubt they'll ever move. Unfortunately. Phoenix's civic leaders shouldn't have dropped the ball and let them build out in Scottsdale in the first place.

I don't know how to copy and paste a link from my iPod touch, but there is an article on axcentral about the redesign of Hance Park downtown. Where's Hoover? Send them your ideas (and repost it here, maybe we can comment on yours and send in a collaborative design to them).

If you have a newer iPod Touch you can do copy and paste by holding your finger on an area you want to select. I did this post with my iPad.

http://www.azcentral.com/community/p...signature.html

I'm strongly in favor of improving Hance Park, it's long overdue. But isn't Encamto Park Phoenix's signature park? I'd love a dog park at Encanto Park.

I see it happening in the not too distant future. People are moving away from malls and big retailers are moving toward stand alone stores. At the same time people are moving towards more urban lifestyles. I would love a Kohl's, JC Penny or other reasonably priced department store downtown.

Thanks nickw252, I figured it out now.

I'm not big on the dog park idea. Sure, it was a great idea for the old ramada inn site, a worthy use for a parcel instead of a parking lot... But at this point I feel like the dog park pushers kept their voices heard simply in principal. And now they've pushed and pushed and it's gotten to the point that a dog park is the first item definitely to be incorporated into a redesigned Hance Park. It would make more sense to me to take one of the many city-owned empty lots currently downtown and turn that into a dog park (or even a non-city-owned lot). Dog parks are ugly due to their typical chain-link fenced-in nature. I think Hance should be completely fence-less.

you know, I actually heard that. It must be true.