Quote:
Originally Posted by exit2lef
Roosevelt Point -- 100% vacant
Skyline Lofts -- only the live / work spaces along Pierce are occupied
Hub / University House in Tempe -- about 50% vacant
Several projects (not just Grigio) along Apache in Tempe (can't remember all the names) with high vacancy rates
I haven't counted the exact number of vacancies, but it's a serious problem -- far greater than your statement above would suggest.
Ultimately, this will have to be an area where we agree to disagree. I have no objection to developers including ground floor retail when they believe it is commercially viable, but I'll continue to be skeptical of efforts to impose ground floor retail as a condition projects have to meet before being approved.
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I already discussed the issues with Skyline. 5 live/work vs. 2 empty retail spaces is not that bad.
Hub/University House is extremely new and has already leased 4 of its spots. Yes, it brought a high inventory online, but it will get filled as College continues to pick up momentum.
Other Apache projects have fared fine. 922 Place, The District, ASL Trails, Gracie's Village all have a high percentage of their retail filled.
When you walk down Apache or Roosevelt in 20 years, you really think it would be ideal for each to be lined with mono-use buildings? How will we ever create active, urban spaces, or create environments where cars become less of a requirement if there's no opportunity to live/work/play in centralized locations?
Last question: if the market was hot for office construction, would you support the building of office towers throughout the Roosevelt historic district on neighborhood streets? If not, why would it be okay to build mono-use projects in areas that are designated as commercial TOD districts?