Phoenix Development News (3)

[Obadno]

Originally Posted by biggus diggus

I wish they'd do something east of the Convention Center to help my units in Renaissance Park.

Well remeber there is a sort of general plan by Hines to tear down convention center south and redevelop, there is also a bunch of lots in east lake park and on the east side of 7th Street that could have big developments

I’m sure it will come, especially as Garfield continues to gentrify

[gymratmanaz]

So it has been forever since I heard anything about Suns and/or Coyotes stadium(s)??????

[CrestedSaguaro]

I think the Coyotes are stuck in Glendale. Not too sure what's on the Sun's horizon. I've got all my chips in for an MLS expansion after Rising win's the playoffs!



Edit: Funny, just as I post this, there was an Executive Session on the 23rd. A Downtown Arena Update was scheduled as part of the meeting. Did anyone happen to attend?

[AnthonyPHX]

Originally Posted by RonnieFoos

I think the Coyotes are stuck in Glendale. Not too sure what's on the Sun's horizon. I've got all my chips in for an MLS expansion after Rising win's the playoffs!



Edit: Funny, just as I post this, there was an Executive Session on the 23rd. A Downtown Arena Update was scheduled as part of the meeting. Did anyone happen to attend?

Just watched it on Youtube; didn't see anything regarding the arenas unfortunately. Only real item was a long presentation about current/future Sky Harbor land use. It sounds like they're looking to acquire more land to the North and West of the airport to expand/enhance support services and activate many of the unused dirt and parking lots.

I'm looking forward to the Nov.6th Planning and Economic Development Subcommittee meeting - looks like there's going to be a decision on whether to allow the owner of the lot north-adjacent to the Artisan Lofts (Central/Wiletta) to build taller than 75 feet. We will see something happening there soon and this decision will determine whether they get to build to 180 feet as requested or just to the existing 75. The neighborhood to the West opposes the change, but Nowakowski encouraged a renewed attempt at compromise so we'll see what happens.

[Mr.RE]

In addition to the resurgence of phoenix post on the last page, this article has some great imagery of phoenix over the years and some updates on current projects. Check it out!

http://https://www.azcentral.com/story/news/local/phoenix/2018/10/25/construction-booming-downtown-phoenix-apartments-frys-grocery-store-office-restaurants-retail/1537540002/

[KingLouieLouie76]

Sorry if this already has been posted.. https://www.bizjournals.com/phoenix/...586&j=84662351

This could be a potential game changer.....

[biggus diggus]

what makes that a game changer in your mind?

[Obadno]

The Chase Tower in downtown Phoenix was sold for $107.5 million, six months after it was bought at a trustee sale for $78.8 million.

According to Maricopa County Recorder documents, Viola Lordsmeer LP bought the building from 201 North Central Avenue Property LLC, a joint venture between Phoenix-based Wentworth Property Co. (WPC) and New York-based Taconic Capital Advisors LP.

Vincent Viola, owner of the Florida Panthers National Hockey League team and founder of Virtu Financial Inc. is listed as the owner of Viola Lordsmeer LP. Viola, who according to Forbes is worth $2.4 billion, is the 344th richest person in the world. President Donald Trump nominated Viola to be Secretary of the Army, but Viola withdrew his name from consideration.

Viola’s son, Michael Viola, was listed on county documents as the contact for Viola Lordsmeer. County documents show the building was purchased entirely in cash.

A spokeswoman for Wentworth Property Co. confirmed the building had been sold, but said the sellers were under a confidentiality agreement and could not discuss the sale in more detail. The sale was first reported by Business Real Estate Weekly.

Wentworth Property Co. and Taconic Capital Advisors bought the 723,922-square-foot office building at 201 N. Central Ave. in April, and originally planned to renovate the 40-story structure, which is the tallest building in Arizona.

JPMorgan Chase & Co. (NYSE: JPM) occupies much of the nearly fully leased office tower, but the bank will move 2,000 workers to a new office complex in Tempe later this year where it will consolidate several Valley offices.

So the people who bought it and claimed to want to renovate it now sold it I assume the rennovation story was just to drum up press coverage?

[ASU Diablo]

Originally Posted by Obadno

So the people who bought it and claimed to want to renovate it now sold it I assume the rennovation story was just to drum up press coverage?

Can't hate on them for doing it, jeez, almost $30M in profit in just 6 months

[Obadno]

Cambria now has a construction cam thanks to UEB

https://ueb.net/webcam47.html

[KingLouieLouie76]

Originally Posted by biggus diggus

what makes that a game changer in your mind?

I guess I was being rather melodramatic w/that quote! It seems they are just going to renovate, but I thought I read rumors awhile back they might add some residential components, but that is more unlikely. I hope though they make it more iconic at least. I was rather disappointed in the last remodeling efforts.

[CrestedSaguaro]

Originally Posted by ASU Diablo

Can't hate on them for doing it, jeez, almost $30M in profit in just 6 months

No doubt. Have to wonder what the new owners have planned for it. I don't see it selling for much more without a renovation.

[ASU Diablo]

Originally Posted by RonnieFoos

No doubt. Have to wonder what the new owners have planned for it. I don't see it selling for much more without a renovation.

Agreed. Speaking of renovations, it's been a while since the Hyatt Regency was sold. Has anyone heard any rumors about upcoming plans?

[haux]

I walked past the west side of The Stewart this afternoon. They've taken down most of the scaffolding, so it actually looks like a building. It's drastically different from any other building downtown and will stand out, especially on I-10 coming from the west.


Here are two photos, one cropping out the scaffolding so it gives a better idea of how the finished building will look.

[PHXFlyer11]

Looks great Haux.

I’m surprised we haven’t heard anything about the circles retail space yet. Really hoping for a brewery in that locating. Hoping that’s why Pedal Haus pulled out of Churchill.

[exit2lef]

Originally Posted by PHXFlyer11

Looks great Haux.

I’m surprised we haven’t heard anything about the circles retail space yet. Really hoping for a brewery in that locating. Hoping that’s why Pedal Haus pulled out of Churchill.

That would be a good alternative to my theory that Pedal Haus withdrew from the Churchill in order to convert the Desoto Central Market into a brewery. As more time passes with the DeSoto space vacant and no announcement of a new tenant, that looks less likely.

[muertecaza]

The group that bought the 15 acres of indian school/colliers land at Indian School/Central at auction appears to be making moves:

[Obadno]

Originally Posted by muertecaza

The group that bought the 15 acres of indian school/colliers land at Indian School/Central at auction appears to be making moves:

Thank god, Indian school needs some love badly

[Phxguy]

https://www.phoenixnewtimes.com/arts...llery-10976177

Another cool interactive gallery which is opening nearby the State Fair Grounds. There is also mention of a venue called ‘Walter Studios’ opening in 2020 at Roosevelt and 7th Avenue.

[combusean]

"High intensity" gives me goosebumps.

I looked at Pivotal's website and this is a lot to watch. They apparently work in the $50 - $500 million range and have previously owned one of my neighbors, 650 California in SF which is worth hundreds of millions of dollars.