Phoenix Development News (3) - Page 812

TJPHXskyscraperfan · #**16221** Posted **Jan 16, 2020, 2:35 AM**

Quote:

Originally Posted by RonnieFoos

Already mentioned it on the Colliers thread, but the skyline is mirrored at the 1:16 mark. Leave it to an out-of-town development company to not get our skyline right in a publicity video

Edit: Speaking of skyline, took a spin around Downtown. Aspire, ASU residential and Link 2 are all in full construction swing. Link has rebar support and concrete going into the ground, ASU has rebar getting placed on site and Aspire has shored up the ground and now digging below street level (is there supposed to be underground parking?). We should see cranes for all 3 of these in a few weeks at most. Skyline is going to be busy!

What do you mean mirrored? It’s just the view from South Mountain.

ASU Diablo · #**16222** Posted **Jan 16, 2020, 3:05 AM**

Quote:

Originally Posted by TJPHXskyscraperfan

What do you mean mirrored? It’s just the view from South Mountain.

Look at Chase Field for reference...did the Diamondbacks already get their way and get their new ballpark in the Avenues?!

TJPHXskyscraperfan · #**16223** Posted **Jan 16, 2020, 6:38 AM**

Quote:

Originally Posted by ASU Diablo

Look at Chase Field for reference...did the Diamondbacks already get their way and get their new ballpark in the Avenues?!

Oh wow, gotcha, it’s backwards, lmao. That’s what I hate about these damn selfie cams.

PHX-DUDE-MAN · #**16224** Posted **Jan 16, 2020, 4:15 PM**

Quote:

Originally Posted by RonnieFoos

...and speaking of cranes, 4 FAA evaluations submitted for Astra at 541'! This is starting to look real fellaz!

https://oeaaa.faa.gov/oeaaa/external...27951252&row=1
https://oeaaa.faa.gov/oeaaa/external...27951251&row=2
https://oeaaa.faa.gov/oeaaa/external...27951250&row=3
https://oeaaa.faa.gov/oeaaa/external...27951249&row=4

So if the crane structure heights are at 541' then where does this put the top of the building? Would the building height then be like 520'? I guess how much room is their typically between the top of the crane and the top of the building? I thought if Astra is going to be 530' then the crane would be like 560'.. Oh well, I'm happy either way.

PHX31 · #**16225** Posted **Jan 16, 2020, 4:22 PM**

Quote:

Originally Posted by PHX-DUDE-MAN

So if the crane structure heights are at 541' then where does this put the top of the building? Would the building height then be like 520'? I guess how much room is their typically between the top of the crane and the top of the building? I thought if Astra is going to be 530' then the crane would be like 560'.. Oh well, I'm happy either way.

I read it as: Structure Type: Building. Structure Height: 541'. So that's the building height. It also referred to a "perm"(anent) structure. So I'd say this is definitely Astra's app, not the cranes.

PHX-DUDE-MAN · #**16226** Posted **Jan 16, 2020, 5:14 PM**

Quote:

Originally Posted by PHX31

I read it as: Structure Type: Building. Structure Height: 541'. So that's the building height. It also referred to a "perm"(anent) structure. So I'd say this is definitely Astra's app, not the cranes.

That's really great news then!

Mr.RE · #**16227** Posted **Jan 16, 2020, 5:30 PM**

Anxiously awaiting renderings of Astra. If anyone comes across them, please post for our viewing pleasure!

ASU Diablo · #**16228** Posted **Jan 16, 2020, 5:31 PM**

Quote:

Originally Posted by Mr.RE

Anxiously awaiting renderings of Astra. If anyone comes across them, please post for our viewing pleasure!

Ronnie already posted a couple of pages back i think. Ronnie has been on fire!

CrestedSaguaro · #**16229** Posted **Jan 16, 2020, 6:18 PM**

Quote:

Originally Posted by Mr.RE

Anxiously awaiting renderings of Astra. If anyone comes across them, please post for our viewing pleasure!

Here ya go: http://forum.skyscraperpage.com/show...ostcount=16065

CrestedSaguaro · #**16230** Posted **Jan 16, 2020, 10:25 PM**

Well, that was quick...and stings the city even more. So glad Marriott could make a profit off Phoenix's $13 mil for renovations.

Quote:

Marriott sells Sheraton Grand in downtown Phoenix for $268M

PHOENIX — The Sheraton Grand in downtown Phoenix has changed owners once again.

Marriott sold the 1,003-room hotel near Third and Van Buren streets to The Blackstone Group last week for $268 million, according to a Securities and Exchange Commission filing.

According to the document, Marriott will continue to operate the hotel under a long-term agreement with Blackstone, a New York-based real estate company.

The Maryland-based hospitality company purchased the hotel from the city of Phoenix in 2018 for $255 million and began renovations.

According to the SEC filing, those renovations are expected to be completed in the first half of this year.

The hotel said in a Facebook post renovated guest rooms were available starting Jan. 7.

As part of the 2018 deal, the city gave Marriott $13 million from its capital replacement fund for the renovations and a 20-year tax break.

The 31-story hotel opened in 2008 after the Phoenix City Council had approved $350 million for construction.

The city built the hotel to increase the number of hotel rooms available for the nearby convention center.

Source: https://ktar.com/story/2922615/marri...enix-for-268m/

biggus diggus · #**16231** Posted **Jan 16, 2020, 10:31 PM**

What profit do you think they made?

I've thought about this for a few minutes and there are two logical conclusions.

1. Blackstone wanted the property but didn't want to screw around with renovations so someone called their buddy at Marriott and asked them to get the pro forma in line and renovate the property and then flip it. Marriott gets to retain management and picks up any revenue during the time they own it.

2. Blackstone wanted the property but the City wouldn't sell it to them so they had Marriott wash it.

Either way there are commissions involved in the transaction and even selling it at a net zero guys are getting paid. We do that stuff all the time in this business. The company doesn't make a dime but we move the assets around and we all get paid individually.

Mr.RE · #**16232** Posted **Jan 16, 2020, 10:55 PM**

Quote:

Originally Posted by ASU Diablo

Ronnie already posted a couple of pages back i think. Ronnie has been on fire!

Ah I saw those. I mean of the entire project other than the plan elevations. Considering there was one at ground level already produced, there has to be many more available. Hopefully sooner than later.

azliam · #**16233** Posted **Jan 17, 2020, 7:07 AM**

Here's a view of downtown from a plane landing at Sky Harbor that was posted back on 1/1/2020. It's the most current one I could find on the tube:

https://www.youtube.com/watch?v=zmBs8BqEv3Y

CrestedSaguaro · #**16234** Posted **Jan 17, 2020, 3:15 PM**

Quote:

Originally Posted by azliam

Here's a view of downtown from a plane landing at Sky Harbor that was posted back on 1/1/2020. It's the most current one I could find on the tube:

https://www.youtube.com/watch?v=zmBs8BqEv3Y

Downtown's starting to look denser. Amazing what Marriott, Link, Stewart, Portland 2 and Block 23 have done over the years. Here's one from 2011 for comparison before the "boom". Can't wait to see what it's going to look like with X, Link 2, Aspire, Hines, AC, ASU, Wexford, the Fillmore and Derby are all completed (and maybe more).

https://www.youtube.com/watch?v=dUgeBzyBbeA

xymox · #**16235** Posted **Jan 17, 2020, 4:10 PM**

Quote:

Originally Posted by RonnieFoos

Downtown's starting to look denser. Amazing what Marriott, Link, Stewart, Portland 2 and Block 23 have done over the years. Here's one from 2011 for comparison before the "boom". Can't wait to see what it's going to look like with X, Link 2, Aspire, Hines, AC, ASU, Wexford, the Fillmore and Derby are all completed (and maybe more).

https://www.youtube.com/watch?v=dUgeBzyBbeA

I've noticed this my last few flights in/out of town - the downtown/midtown gap is shrinking (from that perspective) and downtown is filling in.

TJPHXskyscraperfan · #**16236** Posted **Jan 17, 2020, 6:25 PM**

Anyone know if there is anything going on in the Eastlake area? I thought there was supposed to be stuff breaking ground last October? Also, there is a tractor tearing down stuff at The Macayos site for the new Aura apartments in Midtown.

biggus diggus · #**16237** Posted **Jan 17, 2020, 6:26 PM**

If you're referring to Lafferty's stuff he's a land flipper. Nothing moving until he finds buyers.

TJPHXskyscraperfan · #**16238** Posted **Jan 17, 2020, 6:31 PM**

Yeah, there were details about it a while back, thought maybe a developer bought for them or something. Definitely know he’s a land flipper, I used to live at Capital Place, waiting for the area to develope and never did.

biggus diggus · #**16239** Posted **Jan 17, 2020, 6:55 PM**

How did you like Capitol Place? Always seemed like it had a ton of promise but the neighborhood stopped growing.

TJPHXskyscraperfan · #**16240** Posted **Jan 17, 2020, 7:38 PM**

It was cool. They didn’t build enough parking. I know y’all are against parking but it turned into a real big issue once the complex was full. If you didn’t pay extra for your own spot, you might be stuck without a spot. Eventually turned the visitors lot into the residences lot making visitors park a block away. Parking was going to cost a lot more after two plus years living there and that’s when we decided to move to Alta Central. When we first moved in, a guy that lived there had a coffee and groceries spot, he said he did well but he started to have to travel more for his real job and they closed within a year. This other Guy then opened an all grocery spot a while later and it didn’t make it at all. He had issues with permits and the opening got delayed, once opened, I think it only lasted maybe 5 months mostly in the summer too. He said he didn’t get enough residents to shop there. I supported it quite a bit but it’s not like you could get everything there and of course a little pricier. I think they need one or two more complexes right there to make something like that work, that’s the reason why I say not every complex can have retail.