Phoenix Development News (3) - Page 955

PHX06 · #**19081** Posted **Jul 28, 2021, 4:33 PM**

That Central/1st/McKinley/Fillmore block needs a tower. Just a single tower there would really tie everything together, even if it only a 250-footer. Obviously hoping we get more than that.

CrestedSaguaro · #**19082** Posted **Jul 28, 2021, 6:03 PM**

Quote:

Originally Posted by PHX06

That Central/1st/McKinley/Fillmore block needs a tower. Just a single tower there would really tie everything together, even if it only a 250-footer. Obviously hoping we get more than that.

Are you referring to the fenced off parking lot directly South of Stewart? I've always wondered about that block. I haven't researched it, but who owns it and is there potential for it to be developed or is it just being landbanked for now?

PHX06 · #**19083** Posted **Jul 28, 2021, 6:26 PM**

Quote:

Originally Posted by CrestedSaguaro

Are you referring to the fenced off parking lot directly South of Stewart? I've always wondered about that block. I haven't researched it, but who owns it and is there potential for it to be developed or is it just being landbanked for now?

Oops, I meant the Central/1st St/Fillmore/Pierce parking lot. But now you've got me curious about the one you're mentioning that is south of Stewart. According to county records, it is owned by CENTRAL AND FILLMORE ASSOCIATES LP since 2015.

biggus diggus · #**19084** Posted **Jul 28, 2021, 6:32 PM**

There was talk several years ago about someone developing that block. The group who was touting a possible development unloaded it last year to a local land-banker. Here's their "about us" from glasircapitalpartners.com

"Glasir Capital Partners is a boutique real estate investment company based out of Phoenix Arizona. We specialize in the acquisition and disposition of real estate assets offering deep value added opportunities (distressed debt, REO assets and assets in foreclosure). During the downturn, the company acquired and resold over 1,000+ single family homes and then transitioned into purchasing, repositioning and selling office and multifamily assets around the country. We have recently expanded our scope to include the development, ownership and management of a hybrid single family detached rental product known as "horizontal apartments". The company historically and currently continues to assemble strategic parcels of land which are then entitled and resold to various developers."

The group who owns the parcel directly south of The Stewart is an apartment developer who does primarily senior housing. They also own the Westward Ho. I'll eat my sock if anything significant happens with that parcel in my life time.

combusean · #**19085** Posted **Jul 28, 2021, 9:01 PM**

I think that lot was put up for sale but anybody actually serious about it selling it would take on the risk of remediating it. It has "underground storage tanks" which are probably the buried remains of a speakeasy/distillery and the bowling alley that someday will meet a day of reckoning. I also believe that Glasir is marketing the site along with the C-shaped Schneider and Schneider lots two blocks to the north.

A developer would have to be really gung ho about a big project with a lot of money to spend to take that whole thing on.

CrestedSaguaro · #**19086** Posted **Jul 31, 2021, 10:39 PM**

Banner up on fence for Palmtower. Thinking we could be getting another groundbreaking soon.

combusean · #**19087** Posted **Aug 1, 2021, 12:40 AM**

Man, I didn't realize this thing just dwarfs the existing towers. Should have a great impact on the skyline.

https://www.nadg.com/property/palm-court-tower/

CrestedSaguaro · #**19088** Posted **Aug 1, 2021, 1:16 AM**

Quote:

Originally Posted by combusean

Man, I didn't realize this thing just dwarfs the existing towers. Should have a great impact on the skyline.

https://www.nadg.com/property/palm-court-tower/

Unfortunately, they are not using the NADG design. They are still going to use the existing Will Bruder design with a few modifications by Lamar Johnson, but it has not changed much from the original Will Bruder design. The height will be about 297'.

PyroD · #**19089** Posted **Aug 1, 2021, 1:47 AM**

Quote:

Originally Posted by CrestedSaguaro

Unfortunately, they are not using the NADG design. They are still going to use the existing Will Bruder design with a few modifications by Lamar Johnson, but it has not changed much from the original Will Bruder design. The height will be about 297'.

It should still look pretty good in comparison. I believe one and two Arizona Center are 240' and 260'.

Phxguy · #**19090** Posted **Aug 1, 2021, 1:50 AM**

Quote:

Originally Posted by PyroD

It should still look pretty good in comparison. I believe one and two Arizona Center are 240' and 260'.

Correct, there will be a reasonable difference in comparison to the other two towers. Should make an impression from the freeway.

Classical in Phoenix · #**19091** Posted **Aug 1, 2021, 6:37 PM**

We have been waiting for this one for a long time. Hoping it finally gets started.

Diamonddave · #**19092** Posted **Aug 1, 2021, 7:19 PM**

Quote:

Originally Posted by Classical in Phoenix

We have been waiting for this one for a long time. Hoping it finally gets started.

Yes we have hopefully with this one and Moon tower along with Skye on 6th we can get some new cranes in the air for 3Q.

PyroD · #**19093** Posted **Aug 1, 2021, 7:35 PM**

Any word on Astra? They were originally looking at a Q3 groundbreaking weren't they?

IndyAZ · #**19094** Posted **Aug 1, 2021, 7:47 PM**

Quote:

Originally Posted by PyroD

Any word on Astra? They were originally looking at a Q3 groundbreaking weren't they?

It is not expected to break ground this year, I would expect closer to Q1 '22. Central Station is supposed to break ground in the next 2 months, so hopefully that one happens, but we will have to wait and see.

ASU Diablo · #**19095** Posted **Aug 1, 2021, 8:49 PM**

Safe to assume that The Edith (Berger) is dead?

IndyAZ · #**19096** Posted **Aug 1, 2021, 9:09 PM**

Quote:

Originally Posted by ASU Diablo

Safe to assume that The Edith (Berger) is dead?

I was curious about that one too, thought someone mentioned it recently being fenced? Also, thought we would have heard something on McKinley Green too, that should have broken ground or be getting really close, hopefully that is still going forward.

ASU Diablo · #**19097** Posted **Aug 1, 2021, 9:17 PM**

Quote:

Originally Posted by IndyAZ

I was curious about that one too, thought someone mentioned it recently being fenced? Also, thought we would have heard something on McKinley Green too, that should have broken ground or be getting really close, hopefully that is still going forward.

Last I read on this one was that there was a rezoning hearing to increase the setback some. Not sure where we are with this one…

Phxguy · #**19098** Posted **Aug 2, 2021, 3:30 AM**

Quote:

Originally Posted by ASU Diablo

Last I read on this one was that there was a rezoning hearing to increase the setback some. Not sure where we are with this one…

They requested a 1-year time extension for the variance filed back in 2019 (ZA-293-21 in case anyone’s interested). ZAHO approved the extension.

PHX31 · #**19099** Posted **Aug 2, 2021, 4:40 PM**

That would be pretty incredible to have all of these towers under construction downtown at the same time next year:

Moontower
Skye
Palm Court
McKinley Green
Astra (tower 1 & 2)
Central Station
The Edith

A couple other long shots as well. Barrister, The Blue, Link Phase 3, etc.

locolife · #**19100** Posted **Aug 2, 2021, 4:54 PM**

Quote:

Originally Posted by PHX31

That would be pretty incredible to have all of these towers under construction downtown at the same time next year:

Moontower
Skye
Palm Court
McKinley Green
Astra (tower 1 & 2)
Central Station
The Edith

A couple other long shots as well. Barrister, The Blue, Link Phase 3, etc.

Fingers crossed, that would be awesome