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

CrestedSaguaro Jan 16, 2024 3:28 PM

Quote:

Originally Posted by combusean (Post 10121306)
There seems to be a holding pattern, I can't think of any anticipated groundbreakings.

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

Vela is still on tap to break ground...sometime or another. I kinda thought it would have moved by now. The trees are roped off, but no fencing and I haven't seen any activity yet.

I am not sure what's happening at Portland and 2nd (adjacent lot south of en Hance). They have pulled most of the permits they need, but still may be a ways out on that still. Someone on here mentioned they know someone with the GC that was selected for that project. Maybe they have some inside info?

And then there's also Edith. Not sure when that is supposed to move though. I believe I read an early 2024 start, but not sure on that. Fence is up on the lot, but no construction equipment there currently.

That's all I have for now. I haven't had much time to research lately due to a busy work schedule. I hope to find more time in the next couple of weeks.

gymratmanaz Jan 16, 2024 4:05 PM

Thanks, Crested. Hoping we get more new news as the new year commences and the holidays are over.

az_daniel Jan 16, 2024 5:33 PM

unbelievably happy to see the radio station site get redeveloped. this absolutely *must* be a marquee project, there is no way around it. the key to an excellent project will be street level interest and activation on all three sides - each frontage is important. looking forward to seeing a design.

CrestedSaguaro Jan 17, 2024 3:16 PM

Fox 10 has a new live downtown webcam. Currently shows a good view of some of our newest towers and can see Realm going up. Not sure if the angle changes from time-to-time. But thought I would share.

https://www.fox10phoenix.com/webcams-phoenix

phxjack Jan 22, 2024 11:00 PM

Post from Suntec Concrete
 
https://media.licdn.com/dms/image/D5...v9pXOQLFqVrHIMLast week, Suntec poured the final butterfly roof to top out McKinley Green, one of our latest projects in Downtown Phoenix. This highrise features 23 floors, 389 residential units, and nearly 13,000 SF of retail space. With a dedicated focus on preserving the historic McKinley Medical Office building, this project bridges the past and future of Phoenix by including updated amenities and walking areas for pedestrians. These amenities will include a rooftop pool, outdoor courtyards, a gym, and a designated pet area. The terraces on top of the parking garage and main tower have a view of the skyline that Suntec is proud to have been contributing to for 40 years. McKinley Green plans to open by mid-2024.

ASU Diablo Jan 26, 2024 2:41 PM

Macerich files proposal to develop office tower at prominent Biltmore intersection
 
Wow pretty amazing if Macerich can pull off both towers at Biltmore and develop the other parcel at Fashion Square.

:cheers:

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

Quote:

A prominent intersection in the middle of one of the Valley's top business districts could be getting a new office tower.

Santa Monica, California-based Macerich Co. — the owner of some of the Valley's top shopping malls — filed a proposal to Phoenix's Planning Hearing Officer to develop a 140-foot tall office tower at the site of Biltmore Fashion Park, on the northeast corner of 24th Street and Camelback Road.

Macerich's application with the PHO shows the office tower will be 10 stories totaling 330,000 square feet. The ground floor would have retail space and the office floor plates would be 40,000 square feet apiece.

Macerich (NYSE: MAC) owns the Biltmore Fashion Park, which is home to tenants such as Macy's, Saks Fifth Avenue, Anthropologie and Life Time. The location of the proposed office tower would located near Life Time toward the southeast corner of the 32-acre parcel. A surface parking lot currently occupies the proposed location, according to Macerich's application with the PHO. The PHO will consider the proposal, which calls for review of a building exceeding 112 feet, at its Feb. 21 meeting.


The site plan submitted shows Macerich is eyeing a 13-story residential tower just to the east of Life Time but is not part of its application for the office building.

The company could not be immediately reached for comment on Jan. 25. The firm is working with Quarles & Brady LLP's Danielle Jordan and Benjamin Graff for its application with the city, according to its filing with the PHO.

Macerich said during a 2022 earnings call that it was considering developing 750,000 square feet of new Class A office collectively at Scottsdale Fashion Square mall and Biltmore Fashion Park. Macerich CEO Tom O'Hern specified that the company was looking at a 10-story, 250,000-square-foot tower at Biltmore Fashion Park, which would be developed on the east end of the shopping center.

Macerich's application for a stipulation modification is the first public step toward developing that Biltmore office tower.

As of Jan. 25, no plans for new developments around Fashion Square mall have been filed with the city of Scottsdale. Macerich told the Phoenix Business Journal last February that what it would develop at Fashion Square would be on the vacant parcel to the east of the Caesars Republic Scottsdale that's nearing completion and its opening date.


Should the project move forward, it would add to major investments in the office market in the Camelback Corridor. Across the street from Biltmore Fashion Park is the Esplanade campus, which is undergoing a significant renovation to the tune of $45 million. Due east on Camelback Road is George Oliver's renovation of the Biltmore Commerce Center to Bond. Industry experts point to The Grove by Red Development on 44th Street and Camelback Road as a top office destination in the Valley.

The Camelback/Piestewa Peak submarket ranked No. 2 in the Valley for highest cost per square foot for office, which came in at $37 as of the fourth quarter of 2023, according to a market report from CBRE Group Inc. Only Tempe at $39.65 commanded a higher cost per square foot. However, brokers say a best-in-class, premium space — especially in an area like Camelback Corridor— can command a significantly higher price in the mid to upper $50 per square foot range.

Camelback was also tied with the Northeast Valley/Scottsdale submarket for lowest office vacancy in the Valley at 20.7%, according to CBRE.

thespiandave Jan 28, 2024 8:53 PM

Pics
 
Took a nice long walk and got some updated pics!

The last picture with the dirt was 1st St. north of Roosevelt (I think ‘The Burton’)

https://imgur.com/gallery/G2InBkW

PHX31 Jan 29, 2024 5:04 PM

Thanks for taking and linking the pics. They look nice, especially Central Station and the Palmtower.

ASU Diablo Jan 29, 2024 7:22 PM

Intersection Development opens up about its vision for Roosevelt Row Arts District
 
It's nice to see another developer come in and have a grand vision for Roosevelt Row. True North Studios had been it for the last couple of years now but nice to see Intersection Development come into play.

The re-development of the recently acquired parcel (Central/1st Ave & Roosevelt) will probably take some time as Audicy has 2 years remaining on their lease.

https://www.bizjournals.com/phoenix/...ow-vision.html

Quote:

Phoenix-based Intersection Development LLC is ready to lead the next wave of growth in the Roosevelt Row Arts District.

Intersection on Jan. 23 broke ground on Rainbow Road, a 36-unit boutique apartment development inspired by the video game Mario Kart. The project, designed by architect Lev Libeskind of Libeskind Studio Design, will also feature ground-floor commercial space.

Site demolition is set to begin imminently, said Zac Cohen, a partner at Intersection Development. He added that he expects the arts-focused Rainbow Road to open before the second quarter of 2025.

Intersection is currently having conversations with potential restaurant tenants for Rainbow Road.

“It’s very community-centric, and so we would look for a tenant that reflects those same values,” Cohen said. “Somebody local, somebody who has food that inspires … and to bring something unique that the locals can enjoy that becomes a staple of the community.”

The firm has compiled an enviable portfolio along Roosevelt Row, where it also has an office.

“We think it’s the funkiest part of Phoenix, and we’re really excited to grow with it," Cohen said.

Intersection in December scooped up the building at 840 N. Central Ave. that houses Big 94.5 and other local radio stations in a $10.5 million deal. The transactions included roughly 46,000 square feet across multiple parcels between North First Avenue and North Central Avenue, along Roosevelt Row.

The site is zoned to be built up to 250 feet, and Intersection is "still looking into what fits best there," Cohen said.

Intersection partner Jordan Taylor told the Business Journal that Audacy, the owner of the radio stations at 840 N. Central Ave., has two years remaining on its lease. He noted that Intersection's adjacent real estate holdings to the south of the site were a "motivating factor" in acquiring the land.


That stretch of First Avenue “is really a great microcosm of our ethos," Taylor said.

"There’s these amazing older buildings that will be repurposed in a new, sort of modern way," he said. "But we’ll honor the character and the history of those buildings. And then, to the extent that there’s vacant land that is either a surface parking lot or nothing, then we’ll look to build on those.”

What exactly they'll build at 840 N. Central Ave. remains to be seen. Taylor said there are no significant zoning restrictions on the site, suggesting that residential, mixed-use, office or a hotel could be potential fits.

Intersection's website does have a landing page dubbed "Atari" — a possible reference to the Atari-themed hotels that were announced in Phoenix and elsewhere before the onset of the Covid-19 pandemic — but it offers no further details. A previous version of the landing page contained a note that said "Stay tuned for a breaking announcement."

Taylor, who is listed as a managing member of Atari Hotels on his LinkedIn page, discussed the possibility of bringing an Atari Hotel to the Audacy site during a Jan. 23 interview.

“I do have connections to the Atari group, but I’m not certain that site will make sense. We’ll see. I mean, it might," Taylor said. "That’s part of our evaluation."

Regarding the possibility of an Atari Hotel rising at the site, Cohen noted that "nothing is off the table."


“It’s going to be ambitious, but we really need to listen to the needs of the community and react to that," he said. "So that’s our plan.”

Wider vision for Roosevelt Row
Whatever is decided, Taylor stressed the importance of being thoughtful about maintaining the fabric of the Roosevelt Row neighborhood.

“The zoning for this neighborhood is high-rise development zoning pretty much across the board. However, you have so many important buildings — whether they are on the historic register or not — you have so many important buildings that are kind of mixed throughout this sort of blanket zoning," he said.

The firm's planned projects in the neighborhood include a 68-unit apartment building dubbed Manzana, which is set to include 10,000 square feet of ground floor retail and break ground in early 2025. Furthermore, 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. Both of those projects are located on the same block as the former Audacy site and the company's office.

Taylor said Intersection is already working with the city on the firm's plans for the speakeasy project, noting they will "have some more formal details coming out on that in the next handful of months."

“We’re in the permitting process right now, and just working through the final steps with the city and also with our partners on the construction side to work the budget to where it needs to be, as it always goes," Taylor said.

While many in the commercial real estate world are treading carefully at the moment, Intersection sees opportunity in downtown Phoenix. Taylor noted that Intersection is thinking long-term about Roosevelt Row, and that he's not letting short-term challenges dictate the firm's plans.

“I believe in what’s going on down here," he said. "Maybe the timing is not right for everybody else. The timing is still right for us, because we believe in where this neighborhood is going in the long-term.”

Cohen added that Intersection is actively trying to "be a part of creating something unique here."

“I’m excited about Phoenix, because Phoenix is a city that has grown up late. Unlike other cities of similar size in the Western United States that are already filled in, Phoenix has a lot of lots and surface parking," he said. "Phoenix’s future as a city has really yet to be decided, in some ways."

combusean Jan 30, 2024 9:04 PM

I wish somebody else had bought the CBS lot after reading that article. I just tried to look at the Atari Hotel's website and it's so hopelessly down in the middle of the day (looks like it got hacked), which is something I would expect from being even tangentially next to risky, undercapitalized, phoning it in, or otherwise unserious development teams and projects.

I feel like a big city developer would be working to put shovels in the ground at what they do best and not mess around with unrelated hospitality concepts that are difficult to pull off anyways, especially by what appears to be the same, semi-related, and basically inexperienced group.

As an aside ... I don't know anybody who's pushing 50 and would pay extra to stay at an Atari hotel anyways. From a business perspective, they don't own the brand (which is worthless anyways) and the games aren't nostalgic to that many people. Putting serious theme park architecture and money into something with such a uncertain future seems incredibly risky.

azcats Feb 2, 2024 12:08 PM

Plazas and fountains in downtown
 
I don't even know what made me think of this - from so long ago. I understand the need to expand the convention center...but, this was an attraction that enhanced downtown: the plaza and fountain in front of symphony hall. Too late - it's gone.

https://64.media.tumblr.com/72ed86b3...ea844fdde8.jpg


https://th.bing.com/th/id/R.be83ad4f...pid=ImgRaw&r=0

https://assets.gocity.com/files/groo...en1-scaled.jpg

This is not grand or attractive:

https://i.pinimg.com/originals/0e/a5...6fb4a28889.jpg

https://www.gpsmycity.com/img/gd_sight/50972.jpg

A big grand fountain would do wonders for this park space in the heart of downtown:

https://www.travelmag.com/wp-content...381da633_k.jpg


I know...Phoenix is in the middle of the desert. How about recycled non potable water?

DesertRay Feb 2, 2024 3:39 PM

Quote:

Originally Posted by azcats (Post 10134297)
I don't even know what made me think of this - from so long ago. I understand the need to expand the convention center...but, this was an attraction that enhanced downtown: the plaza and fountain in front of symphony hall. Too late - it's gone.

https://64.media.tumblr.com/72ed86b3...ea844fdde8.jpg


https://th.bing.com/th/id/R.be83ad4f...pid=ImgRaw&r=0

https://assets.gocity.com/files/groo...en1-scaled.jpg

This is not grand or attractive:

https://i.pinimg.com/originals/0e/a5...6fb4a28889.jpg

https://www.gpsmycity.com/img/gd_sight/50972.jpg

A big grand fountain would do wonders for this park space in the heart of downtown:

https://www.travelmag.com/wp-content...381da633_k.jpg


I know...Phoenix is in the middle of the desert. How about recycled non potable water?


I'm in total agreement. I used to love walking past that fountain. We've learned a lot since then. With the use of shade, water recycling, and native vegetation, it shouldn't be too difficult to make a cool (AND cooling) water feature to be proud of. Phoenix was built on top of a waterscape that has been engineered long before the US existed, so it wouldn't be out of place at all.

exit2lef Feb 2, 2024 3:49 PM

Mixed feelings about that plaza. It looked dramatic during the evening, particularly when the symphony was playing and a well-dressed crowd was gathered in front. During the day for half the year, it just baked in the sun.

ASU Diablo Feb 2, 2024 4:18 PM

Quote:

Originally Posted by ASU Diablo (Post 10129112)
Wow pretty amazing if Macerich can pull off both towers at Biltmore and develop the other parcel at Fashion Square.

:cheers:

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

Hadn't seen the following map for Biltmore Fashion Park. You see the location of the proposed tower (Building P) but you also see a proposed residential tower (Building D) and a future parking garage (eww).

https://azbex.com/wp-content/uploads...ce-768x545.jpg

exit2lef Feb 2, 2024 4:20 PM

Quote:

Originally Posted by ASU Diablo (Post 10134486)
Hadn't seen the following map for Biltmore Fashion Park. You see the location of the proposed tower (Building D) but you also see a proposed residential tower (Building D) and a future parking garage (eww).

https://azbex.com/wp-content/uploads...ce-768x545.jpg

At least the garage will be behind everything on land currently used for surface parking rather than facing the street.

Obadno Feb 2, 2024 4:26 PM

Im just happy we are getting a 10 story office building when was the last time we had a high-rise office built? 2009? Block 23 is only like 6 floors

ASU Diablo Feb 2, 2024 4:29 PM

Quote:

Originally Posted by exit2lef (Post 10134490)
At least the garage will be behind everything on land currently used for surface parking rather than facing the street.

True. Part of me wonders if their plan for the new parking structure is to absorb all number of spaces at the existing one and then demo that old parking garage and now you have room for more residential towers. Boom...problem solved.

Obadno Feb 2, 2024 4:49 PM

Quote:

Originally Posted by ASU Diablo (Post 10134504)
True. Part of me wonders if their plan for the new parking structure is to absorb all number of spaces at the existing one and then demo that old parking garage and now you have room for more residential towers. Boom...problem solved.

Im thinking long term all or most of the Camelback facing parking will be developed

combusean Feb 2, 2024 6:42 PM

Quote:

Originally Posted by exit2lef (Post 10134440)
Mixed feelings about that plaza. It looked dramatic during the evening, particularly when the symphony was playing and a well-dressed crowd was gathered in front. During the day for half the year, it just baked in the sun.

Yeah ... I don't know how anyone can be nostalgic for empty concrete plazas. Utterly failed suburbanite thinking that *still* plagues much of Downtown between Chase Field and Chase Tower and smaller lots still.

combusean Feb 2, 2024 6:46 PM

Quote:

Originally Posted by Obadno (Post 10134539)
Im thinking long term all or most of the Camelback facing parking will be developed

This will *never* happen if Westcor still owns it. Their retailers want streetside visibility, and that was from Westcor itself who has fended off interested partners in the past (granted, this was all from 2006 but their mantra has basically never changed). In any event, Westcor owns some of if not the most valuable large parking lots in hundreds of miles between the Biltmore and Fashion Square and has just sat on them. If they were going to develop them, they would have likely done so by now.


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