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

ASU Diablo Jan 4, 2024 8:44 PM

Quote:

Originally Posted by Obadno (Post 10113834)
I just hope it has good access and interaction with the park.

From latest AZ Central article...

https://www.azcentral.com/story/news...k/72085860007/

Quote:

Opponents contend new design less compatible with park

Ken Waters, a resident who appealed the previous approval from the city’s planning hearing officer, said the changes between the 2019 proposal and the new plan have made the project unpalatable.

Waters said the adjustments, which altered the orientation of the buildings and disrupted the view corridor for historic buildings in the park, made the site less walkable and less compatible with the park.

Farrington Drive, which marks the northern boundary of the site, could be a remarkable gateway into the park, Waters said, calling it “a diamond in the rough.”

“Farrington is the gateway into our premier park,” Waters said. “Right now, it is in dog doo-doo shape.”

The pedestrian corridor through the planned Central Park site now leads to Farrington, instead of closer to the park’s entrance, which was proposed in 2019.

Waters suggested putting approval on pause and having Pivotal Group, the council and the public convene on possibilities for the site and come up with a plan that would maximize the use and benefit the park.
Also, I think some of these renderings are new...don't remember seeing them.

https://media.bizj.us/view/img/12651818/view-4.jpg

https://media.bizj.us/view/img/12651819/view-3.jpg

https://media.bizj.us/view/img/12651821/view-2.jpg

https://media.bizj.us/view/img/12651820/view-1.jpg

ASU Diablo Jan 12, 2024 4:38 PM

Ambitious real estate firm scoops up more downtown Phoenix property
 
Yo combusean, it finally happened.

If done right, this intersection will look amazing. The new owner is tied to some interesting and unique projects on Roosevelt.

https://www.bizjournals.com/phoenix/...io-studio.html

Quote:

Philadelphia-based radio station owner Audacy has sold off the prime Phoenix real estate that houses Big 94.5 and other local stations — and the buyer appears connected to a local real estate firm that’s planning a slew of ambitious projects along the Roosevelt Row District in downtown Phoenix.

The studio building at 840 N. Central Ave. was sold for $10.5 million on Dec. 8, according to Maricopa County records and filings from Audacy with the U.S. Securities and Exchange Commission. Audacy, which owns more than 200 radio stations across the country, filed for Chapter 11 bankruptcy protection on Jan. 7.

The purchase included $7.5 million as a down payment and $3 million in new debt, data from real estate database Vizzda shows.

The stucco building was constructed in 1957 and had a full cash value of more than $1.4 million in 2024, according to Maricopa County records. The purchase price appears to include multiple parcels surrounding the building that make up more than 46,000 square feet in total, public records show. Vizzda pegged the general land area of the sale at 1.06 acres.

The zoning for the property is Downtown Gateway, which is intended to be a "high-density, vibrant corridor with a mix of residential and commercial development designed for transit riders," according to the city of Phoenix.

The buyer is Main & Main RoRo Property Owner LLC, an entity connected to James Jason Merck and Jordan Taylor — both part of the leadership team of Intersection Development, according to the firm’s website. Main & Main also shares the same address as Intersection, which was incorporated in 2021 by Taylor, according to the Arizona Corporation Commission.

Intersection declined to discuss their potential plans for the Audacy building and surrounding land. Audacy could also not be reached for comment on the deal.

Intersection's portfolio includes new 36-unit apartments
Intersection’s portfolio includes a number of high-profile Phoenix sites, with a particular focus on Roosevelt Row. Intersection has partnered with architect Lev Libeskind of Libeskind Studio Design on Rainbow Road, a 36-unit boutique apartment building in Roosevelt Row that was inspired by the video game Mario Kart.

Rainbow Road will feature “dynamic commercial spaces on the ground floor,” according to a Jan. 10 email invitation to the project's groundbreaking event. An additional floor has also been added to the project since it was announced in early 2023.

Intersection has completed 17 projects in Roosevelt Row and invested more than $300 million in those projects, according to a video on the firm's website.

Intersection and Libeskind Studio Design are also behind Manzana, a 68-unit apartment building off Roosevelt Street with 10,000 square feet of ground floor retail that's set to break ground in early 2025. The project is set to rise adjacent to Intersection Development's office, according to the Arizona Republic, located on the same block as Audacy's radio station.

Libeskind in 2023 selected Phoenix for its first U.S. office encompassing 1,500 square feet in a two-story historic building at First Avenue and Roosevelt Street — the same building that Intersection calls home.

Other Intersection-connected entities that control property along North First Avenue just off Roosevelt Row include Arcada RoRo LLC and Stoddard RoRo LLC, which owns the lot at the northeast intersection of North First and W McKinley Street.

Connections to Atari hotel project?
It's unclear what plans might be in store for the Stoddard RoRo and Arcada RoRo sites — though Intersection's website describes a project called Arcada at Roosevelt as an "extraordinary speakeasy bar that pushes the boundaries of entertainment" that will open its doors in the spring of 2024.

Intersection's website also has a landing page dubbed "Atari," though no substantial details are included other than a note that says to "Stay tuned for a breaking announcement."

Before the onset of the Covid-19 pandemic, French entertainment and video game giant Atari made a flurry of headlines when it announced that Atari-themed hotels were being planned around the country, including in Phoenix. Atari at the time inked licensing agreements with Phoenix-based True North Studio and GSD Group, which share connective tissue with Intersection Development.

Roosevelt Row is also the district where Scottsdale-based GSD Group told PBJ back in 2020 it intended to build an Atari-themed hotel.

Taylor was part of GSD Group, according to previous reporting. He remains a managing member of Atari Hotels in addition to being a co-founder of Intersection Development, according to his LinkedIn page.

The initial plan was to build the Atari hotel on land owned by True North Studio, according to past reporting, but GSD Group Managing Partner Napolean Smith III told the Business Journal that the space was likely too small after the vision for the project evolved.
https://media.bizj.us/view/img/12669109/audacy06.jpg

ASU Diablo Jan 12, 2024 4:47 PM

Classic building in downtown Phoenix gets new life as part of brand-new Hilton hotel
 
Just posting as the text below is relevant to what's going on with the Milum Textile buildings. Hopefully the City can work w/ the owner to assist w/ preservation costs so that they can sell to developer who knows what they're doing.

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

Quote:

Patel acquired the land in 2017 for $2 million, according to Maricopa County records. At one point there was a proposal to demolish the historic building, but the hotel developer worked with the city of Phoenix’s Historic Preservation Commission to find ways to preserve it.

The Phoenix City Council eventually approved a measure in June 2019 to give Anish Hotels Group $200,000 to help renovate and restore the historic building. At the time it was estimated it would cost $1.45 million to renovate historic building, according to city documents.

https://media.bizj.us/view/img/12669...e2suites02.jpg

PHX31 Jan 12, 2024 5:07 PM

Quote:

Originally Posted by ASU Diablo (Post 10119220)
Yo combusean, it finally happened.

If done right, this intersection will look amazing. The new owner is tied to some interesting and unique projects on Roosevelt.

https://www.bizjournals.com/phoenix/...io-studio.html

This is great news and I'm looking forward to what may happen here. That parking lot fronting Roosevelt between 1st Ave and Central is one of the last gaps or eyesores on Roosevelt from 7th Ave all the way to 7th St... certainly the most egregious. Can't wait until that is gone.

I would say though that the existing building wasn't constructed in 1957... but it's very likely that is the effective construction year as buildings were there since at least the 1920s with a very similar footprint. Looking at the back side, it has a much older form. It likely just had a massive renovation in 1957. I would be interested in watching or being involved in its demolition.

https://www.google.com/maps/@33.4582...8192?entry=ttu

Obadno Jan 12, 2024 5:44 PM

Quote:

Originally Posted by ASU Diablo (Post 10119220)
Yo combusean, it finally happened.



https://media.bizj.us/view/img/12669109/audacy06.jpg

Ive been waiting for this for YEARS! Hopefully we can get a project on caliber with central station. Its a weird lot but maybe somebody can even take the chance with some office space?

No height restrictions here either. :tup:

combusean Jan 12, 2024 6:55 PM

Glad it sold, but I'm not crazy about the development team. The projects they've proposed are certainly interesting from an architectural perspective, but don't seem to represent a lot of investment nor do I think they're going to age very well. Five stories for Rainbow Road there is rather lame at the end of the day, same with Manzana.

I would be pleasantly surprised to see some height at that corner but I don't expect it.

CrestedSaguaro Jan 12, 2024 7:16 PM

Quote:

Originally Posted by Obadno (Post 10119297)
Ive been waiting for this for YEARS! Hopefully we can get a project on caliber with central station. Its a weird lot but maybe somebody can even take the chance with some office space?

No height restrictions here either. :tup:

Lot is zoned for 250'. Doesn't mean that the developer can't request a height increase. But I wouldn't expect anything substantially tall considering their portfolio.

MiEncanto Jan 12, 2024 8:49 PM

I really hope they don't tear down this treasure. It was built in 1957! /s

combusean Jan 12, 2024 9:08 PM

It's from a lot earlier than that but has been gutted inside to match the bad Spanish architecture on the exterior. I really, really hope nobody throws a fit about this one.

ChaseM Jan 13, 2024 6:14 PM

Quote:

Originally Posted by combusean (Post 10119375)
Glad it sold, but I'm not crazy about the development team. The projects they've proposed are certainly interesting from an architectural perspective, but don't seem to represent a lot of investment nor do I think they're going to age very well. Five stories for Rainbow Road there is rather lame at the end of the day, same with Manzana.

I would be pleasantly surprised to see some height at that corner but I don't expect it.

I agree, looking at their portfolio I’m not expecting much unless this is going to be their first real stab at a highrise development, we can only hope, but not holding my breath!

Obadno Jan 13, 2024 6:15 PM

Quote:

Originally Posted by combusean (Post 10119487)
It's from a lot earlier than that but has been gutted inside to match the bad Spanish architecture on the exterior. I really, really hope nobody throws a fit about this one.

They will, the historical preservation society in phoenix only cares abbot the worst buildings

combusean Jan 13, 2024 11:09 PM

I didn't realize that Manzana bumped up to 8 stories?

https://ktar.com/story/5550792/manza...roosevelt-row/

It almost looks like capital investment isn't an issue with this group.

PHXFlyer11 Jan 14, 2024 2:07 PM

Sadly, don’t think the buyer is the kind of developer that can pull off the large scale project that property deserves.

It is the perfect gateway to Downtown and the unique lot shape present some intriguing architectural possibilities. The project there should be multiple towers with mixed use retail, residential and office. Would love to see two 30+ story towers, but this isn’t that type of developer, sadly.

combusean Jan 14, 2024 3:17 PM

I've changed my mind on the development team:

- Manzana got a height boost necessitating a switch of materials for only a few extra floors.

- Rainbow Road has underground parking at greater cost when it doesn't need it, but looks way better without it (i'm still not crazy on the design, but it is better and more expensive than the usual articulated facade schlock).

These aren't value engineered solutions, it's precisely the opposite. So with this given I actually do see the potential for real height on this corner.

thespiandave Jan 15, 2024 12:23 AM

Downtown is looking pretty!

https://imgur.com/gallery/wUTfSw8

muertecaza Jan 15, 2024 3:23 AM

The architect for Rainbow Road and Manzana has some interesting high rise designs in its portfolio that could give an idea of possibilities:

https://www.libeskind.it/portfolio/

michael85225 Jan 15, 2024 4:30 AM

Quote:

Originally Posted by thespiandave (Post 10120465)
Downtown is looking pretty!

https://imgur.com/gallery/wUTfSw8

Love seeing cranes in the city!

PHX31 Jan 15, 2024 6:16 AM

Quote:

Originally Posted by muertecaza (Post 10120521)
The architect for Rainbow Road and Manzana has some interesting high rise designs in its portfolio that could give an idea of possibilities:

https://www.libeskind.it/portfolio/

That Turin high rise is great. The rest I'm not too sold on. It's like trying too hard to be random in design. It works for the 5-7 story stuff, but not for towers.

locolife Jan 15, 2024 4:43 PM

Quote:

Originally Posted by michael85225 (Post 10120551)
Love seeing cranes in the city!

Me too, curious if and when we see the next tranche of projects raise cranes. I've kind of lost track of developments planned but not yet under construction.

combusean Jan 16, 2024 2:03 AM

There seems to be a holding pattern, I can't think of any anticipated groundbreakings.

*claps hand twice to summon CrestedSaguaro* Garçon, update us!


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