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-   -   Phoenix Development News (3) (https://skyscraperpage.com/forum/showthread.php?t=173764)

biggus diggus Oct 6, 2015 9:40 PM

Quote:

Originally Posted by Obadno (Post 7188422)
its dead mate

illuminati confirmed.

combusean Oct 7, 2015 2:27 AM

http://www.azcentral.com/story/opini...more/73483630/

Quote:

It therefore remains plausible, for now, that the Chavez foundation is such a tightly compartmentalized organization that it could have survived ramming the Titanic iceberg, which is what it would take to float Nowakowski’s explanation.

Also theoretically plausible is that it really never occurred to the foundation’s top executives that Nowakowski was – you know – more than just some Phoenix-based company functionary.

That he was a long-time Phoenix council member. Whose district included the property they were seeking to build a $112 million project upon. And whose involvement in the deal, once exposed, would surely send red-flag rockets screaming into the Phoenix skies.

Sure, he represents the downtown area. Sure, he also is a top foundation executive. And, sure, winning the development rights to the lucrative site could reap the non-profit millions. Is that any reason to alert Nowakowski that he should butt out of negotiations?

One would think that a little “heads up, Michael!” might be in order.

But, no. Or, at least, that’s the story.

The preposterous nature of the question is its own answer. If the Chavez foundation directors really are so oblivious that they would miss the neon-lit handwriting on this wall, they don’t deserve the deal.

nickw252 Oct 7, 2015 6:03 PM

Failed 37-story condo tower parcel on Central Avenue sells for $3M
 
Quote:

A vacant parcel of land that once held the promise of a high-rise condo on Central Avenue in Phoenix has sold for $3 million.

Phoenix-based Ironline Partners LLC bought just under 2 acres at the northeast corner of Central and Columbus avenues. The seller was MidFirst Bank.

A vacant parcel of land that once held the promise of a high-rise condo on Central Avenue in Phoenix has sold for $3 million.

Phoenix-based Ironline Partners LLC bought just under 2 acres at the northeast corner of Central and Columbus avenues. The seller was MidFirst Bank.

“This is one of the last land parcels along the light rail corridor in midtown Phoenix,” Rosella said. “The submarket has made an incredible comeback since the economic downturn, and Ironline Partners will benefit from the resurgence.”

The midtown area of Phoenix was hit hard by the recession. The area has 25.2 percent office vacancy rate, according to third-quarter statistics from Cushman.

The Phoenix metro’s office vacancy rate is 18.9 percent, according to Cushman. Another commercial real estate firm, Lee & Associates, pegs it at 20.4 percent.

There already are some apartments and condos under development or in the works in the midtown area.
Given that all the recent developments in the area have been lowrise and midrise apartments and condos, hopefully we can get something a little taller.

An office highrise probably will not pen out as the vacancy rate is still a little hight. However, the majority of the vacancies in midtown are Class B properties. Therefore, the vacancy rate may be deceiving and there may actually be some demand for Class A commercial real estate in the area.

PHXFlyer11 Oct 7, 2015 8:54 PM

Quote:

Originally Posted by nickw252 (Post 7189742)
Given that all the recent developments in the area have been lowrise and midrise apartments and condos, hopefully we can get something a little taller.

An office highrise probably will not pen out as the vacancy rate is still a little hight. However, the majority of the vacancies in midtown are Class B properties. Therefore, the vacancy rate may be deceiving and there may actually be some demand for Class A commercial real estate in the area.

Yea I think best we can hope for is a 8-12 story condo tower.

nickw252 Oct 9, 2015 2:17 AM

Just got a (spam) email from Portland on the Park- 49 of the units are under contract. The email says that this is about 1/3rd of all the units.

This has to be good news for luxury condo developers in Phoenix.

RichTempe Oct 9, 2015 6:22 AM

Quote:

Originally Posted by nickw252 (Post 7191670)
Just got a (spam) email from Portland on the Park- 49 of the units are under contract. The email says that this is about 1/3rd of all the units.

This has to be good news for luxury condo developers in Phoenix.

This may be the same email you are referring to. Here's a link if anyone else wants to take a look at what they have to say. There's also some other stuff about things going on in the area including a SoSoBa noodle shop opening in the space formerly occupied by Centurion restaurant on Roosevelt St. and an additional location for Barrio Cafe on Grand Ave.

http://us4.campaign-archive1.com/?u=...7&e=e8bbd253a6

exit2lef Oct 9, 2015 7:55 PM

A few observations from a lunchtime walk around the Arizona Center:

My Big Fat Greek is gone; an Italian restaurant will replace it. We've come full circle since another Italian restaurant, Amalfi, occupied the same space when the AZ Center first opened 25 years ago.

There's been a lot of media coverage about the new Starbucks Evenings stores with wine & beer. For better or worse, it looks like one is coming to the AZ Center. There's a pending liquor license application sign outside the existing Starbucks there.

biggus diggus Oct 9, 2015 8:10 PM

Good to hear about the Starbucks at AZ center, I won't be going there but the more night time options the better.

I read av article about the Ramen shop opening on Roosevelt, great news since it's a block from my office, I'm sure I'll frequent it for lunch. It definitely sounds like bourgeoisie white people Ramen, though.

Obadno Oct 9, 2015 10:08 PM

Quote:

Originally Posted by biggus diggus (Post 7192580)
Good to hear about the Starbucks at AZ center, I won't be going there but the more night time options the better.

I read av article about the Ramen shop opening on Roosevelt, great news since it's a block from my office, I'm sure I'll frequent it for lunch. It definitely sounds like bourgeoisie white people Ramen, though.

Considering rents downtown......

but in a year or so downtown will be full of hundreds if not thousands of new people I hope we see some great new restaurants pop up and success to the ones that are there:cheers:

PHXFlyer11 Oct 9, 2015 11:03 PM

Muse Breaking Ground
 
Lennar's Muse on the NWC of McDowell and Central appears will break ground very shortly. The fence is either new, or just has one of those dust covers over it now. I couldn't see any equipment yet, but it looks like this is finally happening!

biggus diggus Oct 9, 2015 11:17 PM

Yeah, they have been doing some utility relocation there for the past week or so.

nickw252 Oct 11, 2015 7:13 PM

Portland on the Park and the hotel are coming along well. The hotel appears to be an empty shell. Any idea what the final plans call for?

http://i59.tinypic.com/25tz5nm.jpg

mdpx Oct 11, 2015 11:46 PM

Quote:

Originally Posted by PHXFlyer11 (Post 7192853)
Lennar's Muse on the NWC of McDowell and Central appears will break ground very shortly. The fence is either new, or just has one of those dust covers over it now. I couldn't see any equipment yet, but it looks like this is finally happening!

Sweet mother of Jesus. :D

PHX31 Oct 12, 2015 6:35 PM

Quote:

Originally Posted by PHXFlyer11 (Post 7192853)
Lennar's Muse on the NWC of McDowell and Central appears will break ground very shortly. The fence is either new, or just has one of those dust covers over it now. I couldn't see any equipment yet, but it looks like this is finally happening!

I saw that last night too. The small fenced in thing on the middle of the lot appeared gone, the overall lot was fenced, and I saw at least one piece of equipment on site (water truck). It was dusk and nearly dark so I couldn't see much else but there may have been more equipment.

Obadno Oct 13, 2015 9:32 PM

http://www.bizjournals.com/phoenix/n...ill-hotel.html

Quote:

Dallas, Vancouver groups join infill, hotel, apartments bidders for ‘Psycho’ building redevelopment
here we go again. Hopefully one sticks and doesn't get caught up in a land scandal.

biggus diggus Oct 13, 2015 9:47 PM

Interesting Scott Lyon and Bill Nassikas are bidding again for that building after being rejected the first time. I would be very curious to know what tweaks they have made to the proposal to make them think they will be approved the second time. I feel like they are such a proven success between Hotel Valley Ho and Sanctuary that it would be tempting to approve them.

CrestedSaguaro Oct 14, 2015 11:18 PM

New infill development straddles both sides of Central Avenue in Phoenix
 
Quote:

Oct 14, 2015, 2:33pm MST
A Beverly Hills developer and Las Vegas architect are working both sides of Central Avenue to redevelop empty properties just south of Camelback Road.

Los Angeles-based Omninet Group wants to build new apartment buildings on the east and west sides of Central and Pierson Street.

The west side property is presently home to an empty office building that used to house KFNN-AM. The east side is home to an empty strip center and vacant backlot.

Zoning and City Council hearings have been scheduled for the project.

The Omninet East property is slated to have 181 apartments and 4,800 square feet of ground-level retail space.

Omninet West will have 283 apartments and 15,000 square feet of ground-level commercial space, according to city planning documents.

Both buildings are to be 56 feet high or about five stories, according to city documents.

Las Vegas-based Encompass Studio is doing the architecture and design work on the infill redevelopment.

The properties are just south of the Metro light rail station at Central and Camelback and north of Brophy College Preparatory high school.

Omninet owns and develops real estate in California, Arizona and Nevada including the Sky Vegas condo tower. Omninet also owns the Midtown Phoenix Bank of America Tower just south of Park Central Mall also on Central Avenue.

The Beverly Hills company bought that office building in 2013 for $14.8 million.

Encompass has been doing design work for an ongoing renovation and modernization of that building’s lobbying and exterior.

The latter includes exterior LED lighting.

There are a number of new apartments and condos under construction and/or proposed along Central Avenue from Roosevelt Row up to Camelback Road.
http://www.bizjournals.com/phoenix/n...-sides-of.html

PHX31 Oct 14, 2015 11:30 PM

Does anyone know how to see the actual proposals?

https://www.phoenix.gov/financesite/...tification.pdf

ASU Diablo Oct 14, 2015 11:49 PM

Quote:

Originally Posted by PHX31 (Post 7197525)
Does anyone know how to see the actual proposals?

https://www.phoenix.gov/financesite/...tification.pdf

I have no idea how to view them but this is great news!:tup:

Excited to see how this will look like but some inside knowledge; i believe this will be a mix of ground-level retail, apartments, and condos! Roosevelt Park (i believe) was also included in proposal and involved some type of community garden?

Obadno Oct 15, 2015 4:27 PM

Quote:

Originally Posted by PHX31 (Post 7197525)
Does anyone know how to see the actual proposals?

https://www.phoenix.gov/financesite/...tification.pdf

Is this the rectangular parcel N. of McKinley or the SW corner with the old house?


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