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  #1241  
Old Posted Dec 23, 2022, 8:59 PM
xymox xymox is offline
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Looked like the Optima Kierland crane came down recently. Also looks like crane pieces are gathering on the Optima McDowell Mtn site. That won’t break ground until summer - why would they put crane pieces on site already? Free storage?
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  #1242  
Old Posted Dec 30, 2022, 1:31 AM
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Originally Posted by xymox View Post
Looked like the Optima Kierland crane came down recently. Also looks like crane pieces are gathering on the Optima McDowell Mtn site. That won’t break ground until summer - why would they put crane pieces on site already? Free storage?
Drove by the site today, the crane parts are gone along with the temporary fence that has been on site for about the past 2 years, which is probably a good sign. I am wondering if they push to get a at-risk grading permit to start digging the basement, since a 2-story underground garage of that size will take a long time to dig, even if they don't plan on having a building permit till Summer.
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  #1243  
Old Posted Jan 19, 2023, 6:46 PM
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First phase of Scottsdale Civic Center improvements opening Jan 22, project on track for completion in late March 2023

https://www.yourvalley.net/scottsdal...-jan-22,359434

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  #1244  
Old Posted Jan 19, 2023, 8:12 PM
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Looking forward to checking it out. One of my go-to places just to take a walk around.
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  #1245  
Old Posted Jan 19, 2023, 8:13 PM
xymox xymox is offline
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Do we know if that project at Scottsdale & Bell Rd is still going up? It's been fenced up forever, I don't believe there's any sign of construction. Would really like to see that 14 story building up there.
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  #1246  
Old Posted Jan 29, 2023, 2:32 AM
jermykermy jermykermy is offline
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01.26.23

Couple of cranes looking SE from Camelback

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  #1247  
Old Posted Jan 29, 2023, 12:31 PM
exit2lef exit2lef is online now
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Originally Posted by ChelseaFC View Post
First phase of Scottsdale Civic Center improvements opening Jan 22, project on track for completion in late March 2023

https://www.yourvalley.net/scottsdal...-jan-22,359434

Glad to hear it's nearly done and that live events will be returning there. Between the construction and the pandemic, it's been several years since that plaza has been active.
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  #1248  
Old Posted Jan 30, 2023, 3:40 PM
Obadno Obadno is offline
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The hotel in the saddlebag next to the W looks gigantic I didn’t expect it to have such an impact
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  #1249  
Old Posted Jan 31, 2023, 5:00 PM
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The hotel in the saddlebag next to the W looks gigantic I didn’t expect it to have such an impact
Has an operator been announced for the hotel? I've only seen it referred to as the "Hotel Maya" a few places.
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  #1250  
Old Posted Feb 15, 2023, 3:49 PM
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Office towers, apartments could be added to two major Phoenix-area shopping malls

"At Biltmore Fashion Park, we're advancing plans for a 10-story, 250,000-square-foot class A office tower, including best-of-class retail and food and beverage. Plans are also evolving for a 250-unit luxury apartment complex at Biltmore," O'Hern said. Nelson envisions the development of a multifamily tower and an office tower between 250,000 and 300,000 square feet to take place around the existing Life Time luxury fitness club on the east end of the shopping center.

"At Scottsdale Fashion Square, we're moving forward with plans for multifamily, residential and up to 500,000 square feet of class A office. This is in addition to the re-merchandising of the Nordstorm wing with luxury brands and dining, which is well underway." What Macerich ultimately develops near Scottsdale Fashion Square will be on a vacant parcel to the east of the Caesars Republic Scottsdale hotel under construction. HCW signed a ground lease for the site to develop the hotel.

https://www.bizjournals.com/phoenix/...velopment.html
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  #1251  
Old Posted Feb 15, 2023, 4:33 PM
az_daniel az_daniel is offline
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Originally Posted by ChelseaFC View Post

"At Biltmore Fashion Park, we're advancing plans for a 10-story, 250,000-square-foot class A office tower, including best-of-class retail and food and beverage. Plans are also evolving for a 250-unit luxury apartment complex at Biltmore," O'Hern said. Nelson envisions the development of a multifamily tower and an office tower between 250,000 and 300,000 square feet to take place around the existing Life Time luxury fitness club on the east end of the shopping center.
I expect to see much more intense development interest in the Biltmore area over the next few years.
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  #1252  
Old Posted Feb 15, 2023, 4:52 PM
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Chelsea, There is an article in the Biz journal about the sale of an office building in midtown at 40 Indianola ave. Can you post the article in here so I can read it?

I want to know what the plan is for the building.
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  #1253  
Old Posted Feb 15, 2023, 4:55 PM
Obadno Obadno is offline
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Originally Posted by ChelseaFC View Post
Office towers, apartments could be added to two major Phoenix-area shopping malls

"At Biltmore Fashion Park, we're advancing plans for a 10-story, 250,000-square-foot class A office tower, including best-of-class retail and food and beverage. Plans are also evolving for a 250-unit luxury apartment complex at Biltmore," O'Hern said. Nelson envisions the development of a multifamily tower and an office tower between 250,000 and 300,000 square feet to take place around the existing Life Time luxury fitness club on the east end of the shopping center.


https://www.bizjournals.com/phoenix/...velopment.html
Hopefully office at the corner of Camelback and 26th, Residences ont he backside where 26th curves into Orange.

Or I guess the office should go right at the corner of 24thst but Id want it to look real nice

At least thats what I would do!
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  #1254  
Old Posted Feb 15, 2023, 4:57 PM
DUPio DUPio is offline
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Originally Posted by Obadno View Post
Chelsea, There is an article in the Biz journal about the sale of an office building in midtown at 40 Indianola ave. Can you post the article in here so I can read it?

I want to know what the plan is for the building.
Sure, here you go!


A Phoenix hospital building that has been sitting vacant for the past several years has been sold for $14 million — after the seller had bought it for $8.45 million three years ago.

Two entities tracing to Cindy Brown, a nurse practitioner with Phoenix-based CareLock LLC, bought the property from Indianola Acquisition LLC, led by managing partner Dan Brandt.

"They have a business that does treatment for people who are addicts," Brandt said.

The 73,196-square-foot structure sitting on 1.88 acres of land south of the southeast corner of Central Avenue and Indian School Road was built in 1982, according to Tempe-based Vizzda.

Pinnacle Bank provided a $10.5 million loan for the acquisition of the property at 40 E. Indianola Ave., according to Vizzda.

The building had housed Louisville, Kentucky-based Vencor Inc.'s specialty hospital for ventilator patients back in the 1990s. Vencor changed its name to Kindred Healthcare after emerging from a Chapter 11 reorganization in 2001.

The seller sold the property directly to the buyer, said Tim Dulany, senior vice president and associate broker for Kidder Matthews.

Previous deals fell through
Dulany had previously marketed the property, but all the deals fell through for one reason or another.

He got involved in marketing the property back in 2016 — three owners ago. Curahealth Property LLC, via its capital partner Ventas Realty, sold the property to a Phoenix-based investment firm called Glasir Capital Partners in August 2016 for $5.05 million, Dulany said.

"I marketed it all the way through 2021 and was in escrow with several buyers," Dulany said. "One was a heart surgeon who was going to buy it for a surgery hospital, but he couldn't get his financing during Covid. Another group was going to open a long-term care facility. They had problems getting debt financing as well."

Other groups from out of state also tried to buy the building, he said.

"They had respectful offers," he said. "Every time we took two steps forward, there were other challenges: pipes leaking in the building, copper thieves breaking into the building stealing computers, you name it."

Dulany showed the property more than 45 times over the years.

While the sale of the building included equipment, much of the expensive equipment like X-ray machines and beds were sold off to a wholesaler over time, he said.

Before Brandt bought the building about three years ago, the previous owners had rezoned the property, expanding the use to include senior housing, long-term dependent care, drug rehabilitation and even an immigration holding facility for adolescents.

"I put it under contract with an organization that housed refugee kids," Brandt said. "But it was controversial. Everybody hated me. To house immigrant kids is a heated subject. They're making you out to be a guy who is building cages to store kids in. It was going to be a nice facility with cool amenities for the kids."

Either way, that group lost its funding and wasn't able to seal the deal, he said.

Brandt and his investors bought the building about three years ago, paying $8.45 million, said Julie Johnson, executive vice president of Colliers International in Arizona.

Selling it for $14 million represents a 65% increase, showing the continued strength of the health care market in metro Phoenix.

"Its R-5 zoning allows for many different health care uses — behavioral health care, residential health care, senior housing, skilled nursing, and others," Johnson said. "The growth in inpatient behavioral health facilities has been significant in the past 10 years, and with the pandemic it has not only grown in public awareness but also with increased availability for such treatment."
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  #1255  
Old Posted Feb 15, 2023, 4:58 PM
Obadno Obadno is offline
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Originally Posted by az_daniel View Post
I expect to see much more intense development interest in the Biltmore area over the next few years.
I am waiting for the day those car dealerships on Camelback between 7thst and 156th street finally close up and get redeveloped.
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  #1256  
Old Posted Feb 15, 2023, 5:01 PM
DUPio DUPio is offline
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Originally Posted by Obadno View Post
Hopefully office at the corner of Camelback and 26th, Residences ont he backside where 26th curves into Orange.

Or I guess the office should go right at the corner of 24thst but Id want it to look real nice

At least thats what I would do!
From the article:

"Nelson envisions the development of a multifamily tower and an office tower between 250,000 and 300,000 square feet to take place around the existing Life Time luxury fitness club on the east end of the shopping center.
"

I agree that Biltmore is primed to really benefit from growth in the next 5-10 years.

And as far as Scottsdale goes, the addition of the Ceasar's hotel, adjacent parcel development, and the Hazel & Azure project across the street will really increase the density and foot traffic in the area. Exciting.

Last edited by DUPio; Feb 15, 2023 at 5:11 PM.
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  #1257  
Old Posted Feb 15, 2023, 7:36 PM
MiEncanto MiEncanto is offline
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Originally Posted by Obadno View Post
I am waiting for the day those car dealerships on Camelback between 7thst and 156th street finally close up and get redeveloped.
Redeveloped? Heck they've only expanded in recent years and they do mega business there so I doubt they're going anywhere.
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  #1258  
Old Posted Feb 15, 2023, 7:45 PM
MiEncanto MiEncanto is offline
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Originally Posted by DUPio View Post
From the article:

"Nelson envisions the development of a multifamily tower and an office tower between 250,000 and 300,000 square feet to take place around the existing Life Time luxury fitness club on the east end of the shopping center.
"

I agree that Biltmore is primed to really benefit from growth in the next 5-10 years.

And as far as Scottsdale goes, the addition of the Ceasar's hotel, adjacent parcel development, and the Hazel & Azure project across the street will really increase the density and foot traffic in the area. Exciting.
It's interesting that shopping malls are morphing into multi-use projects primarily because of demand by renters for easy access to restaurant while the retail aspect of most malls has slowed. Outside of Scottsdale Fashion, a lot of malls have struggled. Even Biltmore has lost some key tenants in the last few years. They lost the Apple store. One of their big anchors is now... a country club masquerading as a gym (Lifetime). There's still a ton of empty stores. It seems smart for malls to pivot. I think its a sign of broader trends where consumers are more interseted in experiences and services over shopping.
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  #1259  
Old Posted Feb 15, 2023, 8:03 PM
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The Biltmore is one of the only submarkets where office has been doing well for some reason, so it's pretty primed for another tower. I only wonder why Macerich has taken so long to act on the Biltmore property because they've had the core entitlements for like 16+ years now. I do know that they are especially loathe to develop the parking lots in front but that is obviously where the office should go.

I hadn't even realized they put the Lifetime there within the last few years.
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  #1260  
Old Posted Feb 28, 2023, 5:52 PM
Obadno Obadno is offline
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Well this sounds like that Boondogle house in LA built by that crazy dude.

Who is going to buy this?

Quote:
Ultra-luxurious $75 million estate to be built in Paradise Valley
Cullum Homes and Wow Luxury Properties are partnering to build an ultra-luxurious 40,000-square-foot estate in Paradise Valley.

It may be the most expensive home to ever be built in the Valley, said David Hersh, founder of Scottsdale-based Wow Luxury Properties.

To be built on 2.2 acres, the $75 million mansion boasts a basement that will include a bowling alley, indoor shooting range, golf simulator, casino room, recording studio and a movie theater with metaverse room.

A 2-story aquarium will draw light into the basement, said Lindsay Cullum-Colwell, co-owner of the Scottsdale-based custom homebuilder.

"It was a way for me to drop natural light into the basement," said Cullum-Colwell, who designed the home. "Twenty-thousand square feet of the house is subterranean. I needed a way to bring the Arizona sunshine into the basement. One of the ways to achieve that is a 16,000-gallon 2-story aquarium that starts at the ground level and goes down into the basement, providing a backdrop for the casino room and family room downstairs and the kitchen and formal dining room upstairs."

Also leading down to the basement is a car lift to a car collector's showroom. Above that showroom is a plexiglass ceiling where the homeowner can look down at the collection from the home office.

Outside will be a cinema pool with a waterfall and large movie screen, along with a lazy river, an island green for chipping and putting, a stage, fire pits with an outdoor fireplace, outdoor kitchens, and a slide.

The home will include 13 bedrooms, 16 bathrooms and eight half bathrooms throughout the property. It also will include a spa that will have its own sauna, snow room, vitality pools, massage rooms and locker rooms.

The home will have three elevators — in addition to the car lift.

'Wow everywhere'
"The idea behind the home is there has to be a 'wow' everywhere you turn," Hersh said.

The home also includes six bars, one of which is a wine wall in the basement that holds 2,000 bottles, and an ice cream bar near the movie theater pool.

"When you have a home that has six bars in it, you've gotta challenge yourself to make it more than just liquor," Cullum-Colwell said. "We tried to look at a popcorn bar and soda fountain right outside the movie theater/metaverse next to the bowling alley."

Another bar is off the lazy river pool near the conference room building with plenty of space for happy hour after a fundraiser meeting, she said.
https://www.bizjournals.com/phoenix/...ing-built.html
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