Tempe Development Thread

[PC2001]

What is this building?


http://farm4.static.flickr.com/3157/2527964857_cab48dc9e0_o.jpg[/IMG]

[PC2001]

Centerpoint is onsale. They dropped their prices for 2-bedrooms by 150K.

[vertex]

^Where did you hear about that?

[Sekkle]

What is this building?


http://farm4.static.flickr.com/3157/2527964857_cab48dc9e0_o.jpg[/IMG]

The one in the foreground? It's the new Tempe Transit Center (http://www.tempe.gov/greenprograms/transitcenter.htm). The one in the background with the tower crane is the Tempe Gateway Center or something like that.

[HooverDam]

Centerpoint is onsale. They dropped their prices for 2-bedrooms by 150K.

Wow, any additional details on this would be great.

[urevnet]

Hi everyone, I know I haven't ever posted on this forum before, but for the last few years I've peaked in on it every now and then to see what people are talking about. Let me formally introduce myself! My name is Ryan Charleston and I'm with Urban Realty & Development in Downtown Tempe. Been working with them for nearly 3 years now. I graduated from ASU in 2005 and have lived in and/or near downtown Tempe since 2003. I've witnessed a lot of changes happen in the downtown market over the past 5 years and in many cases predicted much of what has happened with infill and redevelopment. I didn't think the downturn would be as drastic as it has been, although it appears the worse will be over by years end. It probably won't be very stable for at least another year! In any case I think downtown Tempe will survive and be in much better shape than most of the outer lying suburban and exurban communities for obvious reasons. There's still many projects moving forward in or near downtown Tempe and the fundamentals are still very good! Financing just has to come back.

Anyways, hopefully I'll find some time in my hectic schedule to post on here random information about Tempe urban developments, plans, sales figures, research, stats, articles, etc. and make whatever contributions I can.

When you get a chance, please check out my custom website (www.urev.net) and my database (www.suredb.com) that (when finished) will be THE most comprehensive and user friendly database/website dedicated to Arizona urban living and real estate development ever created!

Also, here's a recent video on Tempe I just finished. Enjoy!
http://www.youtube.com/watch?v=Vw5OrNwUNGA

Oh, and if anyone wants killer deal on a Centerpoint Condo unit let me know! I've got a special exclusive deal (arranged between our company and Avenue Communities) on selected units. I can't spell out specifics on this board, but if you contact me we can discuss further!

[HX_Guy]

Cool website, I like it.

[Don B.]

Welcome to the forum, Ryan. :)

I'll check out your video and website when I have some time.

--don

[vertex]

...Financing just has to come back...


Bingo. Until then, nothing else really matters.

Interesting first post Ryan. Look forward to hearing more. Just ease up on the sales pitch, you're preaching to the choir here...;)

[urevnet]

http://www.suredb.com/images/mosaic-tempe-01.jpg (http://urev.net/arizona-urban-living/tempe/tempe-downtown/mosaic-tempe)

Thanks for the comments!

Also, some of you may already know that Mosaic is delayed a year (actually more like two since they should have already started construction) and it will be broken into phases. Whole Foods is committed and the financing is definitely in place to start building the grocery store, retail space fronting Ash & University, parking, and 6 stories of condos. That starts 1st Quarter 2009!

The tower condos going from the 7th - 22nd floor will be phase two and it's anyones guess when they will start building that.

Centerpoint's gourmet grocery store I heard is definitely a go too, and should be done and ready to serve by years end regardless of what's going on with the condo sales and construction. Add in a CVS to Mill & University which should be ready before the fall semester starts and you are starting to get some vital elements into downtown Tempe!

[flyer84]

I just have one question. According to Whole Foods website, the new downtown Tempe location in Mosaic says it's a "relocation". Does this mean that the Whole Foods on Rural and Baseline will be closing??

Whole Foods is committed and the financing is definitely in place to start building the grocery store, retail space fronting Ash & University, parking, and 6 stories of condos.

[exit2lef]

I just have one question. According to Whole Foods website, the new downtown Tempe location in Mosaic says it's a "relocation". Does this mean that the Whole Foods on Rural and Baseline will be closing??

That's what I've heard.

[urevnet]

No, actually, from what I was told last, the Whole Foods at Mosaic is in addition to the one on Rural. They will have two in Tempe!

[loftlovr]

Ryan, that is one hell of a video! I love the choice in music.

[tempedude]

The area around the intersection of Apache Blvd. and Rural Rd. is developing and building up nicely. I should say changing fast.

On the NW corner, the ASU Barrett Honors College is progressing quite well. The bad part is that it looks like it will mostly be facing inwards away from the street. Apache streetside looks like there will be nothing but a big wall with windows.

Rendering of Barrett Honors College.
http://farm4.static.flickr.com/3154/2553918226_6aa23a4d42_o.jpg

On the NE corner, immeditely east of Taco Bell, Campus Edge is moving along too. I am assuming thats what it still is. Most of the wrapping has been removed from the fence, but there are still a couple of signs hanging there that say Campus Edge lofts. Looks like most of the earth moving and grading is done, and construction has moved on to lots of drilling. If the design hasn't changed, I suppose we could see a crane there sometime this summer.

Rendering of Campus Edge (If thats what is still going on with the construction)
http://farm3.static.flickr.com/2393/2492659398_3d78cc3313_o.jpg

Here is what has me confused because I have not heard anything about this, nor is there anything listed on the Tempe development website.
Directly across the street from the Campus Edge site, on Apache, the old abandoned building that was right next to Baer's Den (a little bar) has been demolished. I was surprised to see that building had a rather deep basement and that has been ripped out too. Now, there is just a big fenced off hole in the ground. My question is, has anyone heard of any plans for that site? There isn't any indication of what might be going on there at the site. Something must be, because that building sat empty for at least 3 or 4 years that I know of...and now they just suddenly decide to tear it down?

[exit2lef]

The area around the intersection of Apache Blvd. and Rural Rd. is developing and building up nicely. I should say changing fast.



I agree. I really like the street-narrowing along Apache with parallel parking creating a buffer between pedestrians and cars. There's also some action at Apache & McClintock with a new apartment complex and light rail park-and-ride garage going in on the SE corner.

[tempedude]

^Yes, I like how they have added parallel parking along Apache too. In addition to the park n ride garage (and light rail station) and new apartments under construction at McClintock and Apache...there is a whole new large apartment complex just starting construction further east down Apache across the street from the Arbour(s) apartment complex.

It looks like there is redevelopment and new development along Apache being spured along by the installation of the new light rail line. I took a bike ride all the way to downtown Mesa the other day, and noticed several instances of this along the route.

[loftlovr]

I believe Campus Edge is being changed for student housing and/or an upscale apartment complex if memory serves me.
I hope the design doesn't change much. I am sure the interiors will be dumbed down quite a bit, but I hope the exterior stays similar.
-Would be nice to keep the concrete ceilings inside too.....
I would have loved to have been able to live in such a place when I was an ASU student. (not that I would have been able to afford it)

[urevnet]

Thanks loftlovr! Yea, Tiesto's music fits well into the production of a video on modern city living and downtown stuff...my videographer and I have another one we're working on right now for Downtown Scottsdale! Just saw Tiesto in concert last Monday night at Marquee!

As for the Campus Edge Lofts, yes, you're right that is going to be student housing now. I don't know too much other than that, but I do have 1 new rendering on my site (1st image) seen here...
http://urev.net/arizona-urban-living/tempe/tempe-asu/campus-edge-lofts

Looks like they're going 10 stories tall now!

[tempedude]

As for the Campus Edge Lofts, yes, you're right that is going to be student housing now. I don't know too much other than that, but I do have 1 new rendering on my site (1st image) seen here...
http://urev.net/arizona-urban-living/tempe/tempe-asu/campus-edge-lofts

Looks like they're going 10 stories tall now!

So, ummm...cool. Campus Edge is now going to be a little taller now over the previous design.{?} At the rate they are moving with construction right now, it will definitely be sometime this summer (before August would be my guess) that we should be seeing a crane on site.

[Don B.]

I'm not a fan of the Campus Edge Lofts design. They look like a blown up Motel 6 with more design elements added. Blech.

--don

[JAHOPL]

Global Hotel scales back Town Lake condo plan
Donna Hogan, EV Tribune, June 6

Le Meridien will have a lot fewer condos and a much-delayed opening date, but a Tempe debut is still in the works, a partner in the much-touted luxury hotel project said.

Adrian Glover, a partner in Sierra Hospitality, plans with development partner Valhalla Development Corp. to build the hotel at Hayden Ferry Lakeside, local developer SunCor's 17-acre, live-work-play project along the north side of Rio Salado Parkway between Mill Avenue and Rural Road.

The project will get in gear as soon as the construction market stabilizes and the hotel is redesigned with fewer condominiums, Glover said. He added that the 4.5-star hotel has never been off the books, even though the project, originally expected to be completed by the end of this year, has not yet broken ground.

The Tempe City Council was slated to discuss Le Meridien's status in a closed session Thursday evening, but city officials declined to discuss details. Valhalla representatives were not available for comment on the plans.

Hayden Ferry Lakeside master developer SunCor is still wondering when its centerpiece hotel will get built, said spokesman Bill Woodward.

The partners own the land, have kept up with all payments and have the financial backing to complete the development as long as they convert most or all of the originally planned 44 condos into hotel rooms, Glover said.

Condos, once requisite for new hotel projects, have fallen out of favor with investors because they are not selling, he said.

If Le Meridien's design do-over is completed and the construction market is stable enough to price the project - it originally had a $105 million tab - the hotel could break ground in early 2009 and be completed within two years.

[loftlovr]

A pretty comprehensive list for Tempe projects, dated and puffed albeit:

http://www.tempe.gov/business/development_report/pdf/project_report.doc

It is a doc file....

[gomoso22]

A pretty comprehensive list for Tempe projects, dated and puffed albeit:

http://www.tempe.gov/business/development_report/pdf/project_report.doc

It is a doc file....

Wow so many projects for Tempe


for Centerpoint would be three-30 story towers and a 22 story.

[Azndragon837]

Tempedude...welcome to the forum! I have to ask: what Tiesto song is that in your video? I am a huge fan of him and his music, but I am drawing a blank on the song you picked. I was also at his concert on Monday...which was awesome! But nothing tops his concert with 15,000+ last August at the LA Sports Arena!

-Andrew

[tempedude]

Tempedude...welcome to the forum!

-Andrew

:) Gee thanks you are the first person to say that to me as long as I have been on here. :haha:

Andrew I think you ment to address and ask urevnet(Ryan) your question. ;)

[gomoso22]

http://img219.imageshack.us/img219/3213/img0002vu0.jpg (http://imageshack.us)
http://img219.imageshack.us/img219/3213/img0002vu0.a795c115ea.jpg (http://g.imageshack.us/g.php?h=219&i=img0002vu0.jpg)

http://img224.imageshack.us/img224/8712/img0011sd6.jpg (http://imageshack.us)
http://img224.imageshack.us/img224/8712/img0011sd6.20f6abda5a.jpg (http://g.imageshack.us/g.php?h=224&i=img0011sd6.jpg)

http://img227.imageshack.us/img227/6605/img0020yv6.jpg (http://imageshack.us)
http://img227.imageshack.us/img227/6605/img0020yv6.360b3c49be.jpg (http://g.imageshack.us/g.php?h=227&i=img0020yv6.jpg)

[HX_Guy]

http://img224.imageshack.us/img224/8712/img0011sd6.jpg (http://imageshack.us)
http://img224.imageshack.us/img224/8712/img0011sd6.20f6abda5a.jpg (http://g.imageshack.us/g.php?h=224&i=img0011sd6.jpg)


That's a really nice shot, the towers look great.

It's a bit odd seeing just two tall towers in downtown Tempe, doesn't really fit in, maybe if they were closer to the lake and blended in with the developments there. You have to start somewhere I guess though...there has to be that first that sort of breaks the ice.

[urevnet]

tempedude...welcome to the forum! I have to ask: what Tiesto song is that in your video? I am a huge fan of him and his music, but I am drawing a blank on the song you picked. I was also at his concert on Monday...which was awesome! But nothing tops his concert with 15,000+ last August at the LA Sports Arena!

-Andrew
Hey Azndragon837, that Tiesto song in my video is from disc 2 off the ISOS 6 (Ibiza) Album released last year. His show in LA with 15K sounds like it was amazing! I saw him spin in Vegas last year at Jet and there was probably 10,000 (all crammed shoulder-to-shoulder).

[urevnet]

As some of you might have seen last Monday, the CEO of Mortgages LTD died and although most will say suicide and the news will most likely report it as such, if you know the mess behind the scene and the ungodly amount money he lost his wealthy investors, it's obvious there were people out there that wanted his head! I say he was probably murdered and it was staged. Since I am involved with both commercial real estate and residential real estate on a deep level I here a lot about what's going on in the background and over the past week things have been very grim. All I can say is the general public has had no clue (initially) what a the domino effect would be of death of Scott Coles and how it would affect the real estate industry and specifically (to my interests) the major mixed-use urban projects under construction in or near Downtown Tempe and the rest of the valley! Folks, sorry to say, it's really bad, and it's going to get worse! There's no sugar coating it anymore. It's not all gloom and doom for some, since I suppose not matter what the situation there eventually going to be opportunity for someone, somewhere... hopefully it will be in the form of seeing much more affordable prices on a lot of these busted condo projects and the beginnings of a fresh new cycle.

Here's the latest article that just came out...

http://www.azcentral.com/business/articles/2008/06/10/20080610biz-mortgagesltd0610.html

[Don B.]

^ On a somewhat related note, I don't understand banks and mortgage lenders. They foreclose on a property because they won't respond to that seller's efforts to get them to reduce balances so that the property can sell, then they sit on the property.

The guy next door to us (who paid $1.16 million at the height of the boom in 2006) was foreclosed several weeks ago. He had reduced his price to $899k before the foreclosure, and his front yard was weedville. He had it up for sale nearly a year with no bites.

So the bank takes it back (First Magnus - which has been subsumed by another lender) and guess what? It's still up for sale at $899k. Do you think they could buy a clue? In fact, except for cleaning up the weeds (which may have been done by the HOA), nothing has changed.

These foreclosures are killing the market. I'm starting to think the government needs to freeze foreclosures while things sort out. Foreclosing isn't helping lenders any at all - it's hurting them, and it is counter-intuitive. Plus, it forces people out and properties become abandoned and neglected.

--don

[somethingfast]

Don,

It's not that simple. I am in the mortgage biz and I actually worked for First Magnus. First Magnus didn't foreclose on the property as FMFC never actually held any of the notes but always sold them in the secondary market within 30 days of close. It was likely Countrywide or similar that actively serviced the loan and foreclosed.

Things are going to get very interesting in the next 2-5 years in the mortgage biz and I believe regulation of some sort is coming and will be good for the industry. The industry was once a place where true professionals were the norm but became a friggin circus over the last 10 years. It will go back to being a noble profession, mark my words. I hated competing with deadbeat loan officers that lied, cheated and stealed to close a deal. they are scum of the earth...

[tempedude]

^Bingo.

[Don B.]

Don,

It's not that simple. I am in the mortgage biz and I actually worked for First Magnus. First Magnus didn't foreclose on the property as FMFC never actually held any of the notes but always sold them in the secondary market within 30 days of close. It was likely Countrywide or similar that actively serviced the loan and foreclosed.

Things are going to get very interesting in the next 2-5 years in the mortgage biz and I believe regulation of some sort is coming and will be good for the industry. The industry was once a place where true professionals were the norm but became a friggin circus over the last 10 years. It will go back to being a noble profession, mark my words. I hated competing with deadbeat loan officers that lied, cheated and stealed to close a deal. they are scum of the earth...

According to my partner (who is a realtor), First Magnus was the scum of the mortgage lending biz...worse than most. This fool next to us should never have had the loan in the first place. He put nothing down and then hosed the neighborhood. I'm bitter because this guy ended up being the dead weight that dragged our subdivision over the proverbial cliff.

--don

[trigirdbers]

Yah, Mortgages LTD held the paper on Chateau if I recall. I know that they've had a hard time selling units and I can't imagine that this will make things any better.

[somethingfast]

Don,

To pain any single wholesale lender as worse than another is inaccurate. The only reason why FMFC gets a bad rap in AZ is because the went out of business overnight and left a lot of people high and dry. They were once the darling of Arizona lending (Charter Funding and Great Southwest were the retail brands in AZ) and could do no wrong. People only like winners. Not too many of those left in the biz. Believe me, big names are still going to go down. CWide basically is insolvent and if BoA had walked away, they would declare BK. This whole meltdown is going to level the playing field and no "name" will be any more valuable than any other. One of my company's selling points right now is that "we are still around" lol. The truth is, the Fed was way too loose with monetary policy from 2001-2004 and state regulations regarding lending practices were even worse. We're all paying for our own sense of greed coupled with poor government regulation.

[Sonoran_Dweller]

ASU plans big rooftop solar grid
Installation would be among largest of its type in nation

by Max Jarman - Jun. 10, 2008 12:00 AM
The Arizona Republic

More than 20 percent of the energy needs of Arizona State University's main campus eventually could be met by one of the largest rooftop solar-power plants in the United States.

ASU planned to announce an agreement today under which three companies will install, at their expense, solar electricity-generating equipment on up to 330,000 square feet of rooftop space at its main campus in Tempe.

Jonathan Fink, director of the Global Institute of Sustainability at ASU, said that the university will pay the companies a fixed rate that is slightly lower than what it is now paying for power from Arizona Public Service Co.

If APS raises its rates, the savings will become greater, Fink said.

Besides saving the university money, the solar-generating system will provide an important teaching and research tool, he said.

The project is part of the university's sustainability initiative, which includes education, business practices, research and facilities.

The plan calls for 2 megawatts of generating capacity installed on 135,000 square feet by the end of the year.

That's enough to run 4,600 computers and reduce carbon emissions by 2,825 tons per year, or the equivalent of taking 530 cars off the road for a year. Long-term plans call for up to 7 megawatts of solar-generating capacity to be built at ASU in Tempe, with additional solar installations at its campuses in downtown Phoenix and other locations.

"These large-scale solar installations demonstrate ASU's commitment to achieving carbon neutrality through on-site, renewable-energy generation," ASU President Michael Crow said.

Brad Collins is executive director of the American Solar Energy Society in Boulder, Colo., a non-profit group that promotes use of solar energy. He agreed that ASU is making "a very significant commitment" toward solar energy.

"The largest rooftop installations we've seen so far have been in the order of 1 to 2 megawatts," he said.

Google has a 1.6-megawatt facility on the roof of its Mountain View, Calif., headquarters, and last month, drug maker Schering-Plough announced plans for a 1.7-megawatt rooftop system at its Summit, N.J., campus.

Those facilities, however, are dwarfed by proposed ground installations, such as the 280-megawatt solar plant planned by APS near Gila Bend.

Collins said that such large-scale installations are helping bring down the cost of generation of solar power by creating more production capacity for the equipment.

The industry also is benefiting from federal and state tax credits and incentive payments from utilities such as APS.

Honeywell Building Solutions, Independent Energy Group and SolEquity will build the systems.

They will recoup their investment, thought to be $30 million to $50 million, by selling the electricity back to ASU under a 15-year contract.

Honeywell Building Systems is a unit of technology and manufacturing company Honeywell International.

SolEquity is a new venture backed by Arizona Technology Enterprises, a subsidiary of the Arizona State University Foundation.

Its mission is to enable the widespread adoption of solar-energy technology by bringing together hosts for solar systems, investors and suppliers. Independent Energy Group is an investment group.

Aaron Parker, a spokesman for Honeywell Building Solutions, said such purchase-power agreements increasingly are being used to finance large solar projects.

The financing arrangements spare ASU and others the enormous up-front cost of installing the systems, allowing them lower energy costs while reducing carbon emissions.

APS is under a mandate from state utility regulators to generate 15 percent of its power from renewable sources by 2025 and is offering incentives to residents and business to install systems to generate renewable energy.

"It helps us meet the renewable mandate from the Arizona Corporation Commission and offsets the need for additional generation to meet future demand," said Barbara Lockwood, APS' manager for renewable energy.

She said a 2-megawatt system, such as the one planned at ASU, could qualify for up to $1 million a year in rebates from the utility.

Collins also noted the creativity and usefulness of the purchase-power agreement.

"We're starting to see a lot of innovative financing for solar installations," he said.

California's SolarCity, for example, is offering to install a 2.4-kilowatt residential system and lease it to the homeowner for as little as $70 a month.

http://www.azcentral.com/business/articles/2008/06/10/20080610biz-asusolar0610-CP.html

[andrewkfromaz]

I'm sorry, I don't think rooftop systems are the way to go, especially in the Valley. It just gets too dang hot here. Way more efficient to build a huge ground plant (such as the one mentioned in the article, natch) someplace slightly cooler where the panels can run more efficiently and last longer. I think rooftop plants are a novelty, and are going to remain so for the foreseeable future. Even semi-urban places with great, big, tracts of land (like the Google-plex) won't be able to match the efficiency of remote areas.

[SunDevil]

I'm sorry, I don't think rooftop systems are the way to go, especially in the Valley. It just gets too dang hot here. Way more efficient to build a huge ground plant (such as the one mentioned in the article, natch) someplace slightly cooler where the panels can run more efficiently and last longer. I think rooftop plants are a novelty, and are going to remain so for the foreseeable future. Even semi-urban places with great, big, tracts of land (like the Google-plex) won't be able to match the efficiency of remote areas.

I don't think the idea is to turn the univeristy into a power plant.

It's both a way for the school to save some money in the long term as well as a symbolic move to show that the univeristy is on board with the green movement.

[Don B.]

Why isn't a rooftop system the best way to go for solar? It's better having it on the ground in a rural area? I don't get it - both get the same amount of sun.

--don

[plinko]

^I think the argument he is making is that you lose some efficiency in the power generation just based on the amount of available square footage. Obviously a big plant in the middle of the desert wouldn't have this problem.

Still, I tend to fall on the side of SunDevil in that the university saves a little money and gets the PR and student learning values of being a solar campus.

Andrew, wouldn't the land cost alone of a large section of desert make the rural solar plant idea for ASU infeasible? (Though I do recognize the obvious in that a large rural solar plant could power ALOT more than just ASU, but it would likely require federal dollars and years of political BS to get started). I'm sure somebody has thought of it.

The building roofs are free real estate for the solar companies and free equipment and installation for the university. A win-win.

[Tempe_Duck]

So a while back I asked about the construction on the Southwest corner of Mill Ave and Broadway Rd. Some one mentioned something about condos. Well just thought I would correct that, there is now a sign for a Walgreen. Which is weird because there is one across the street, so I guess they are just moving. Wonder what is going into their current place.

[Azndragon837]

:) Gee thanks you are the first person to say that to me as long as I have been on here. :haha:

Andrew I think you ment to address and ask urevnet(Ryan) your question. ;)

Oops, sorry....my mind was wandering. But hi anyways! :D

-Andrew

[tempedude]

^Hey

It's all good. :tup:

:D

[ciweiss]

28 commentsby Andrew Johnson - Jun. 16, 2008 05:18 PM
The Arizona Republic
Light rail is six months from operation, but the transit system's impact on the Valley's real-estate market has been in full swing with new condos, office buildings and mixed-use developments rising throughout metro Phoenix.

Transit officials estimate that since 2004, developers have spent close to $6 billion on public and private projects on and around the future light-rail line. Critics, however, say the transit system has put a burden on taxpayers and construction of the line has shut down businesses.

The figure is based on information Metro light rail routinely gathers from planners in Phoenix, Tempe and Mesa, the three cities in which the 20-mile system will operate beginning in December.
The price tag includes projects already completed, developments under construction and announced projects within a half-mile radius of the line that officials from those cities say will likely come to fruition, according to Ben Limmer, a Metro light rail planner.

Light rail is not the sole reason why projects in the transit system's vicinity have developed, real-estate analysts note.

But the future system has definitely been a catalyst prompting developers to pay higher prices for property adjacent to the line for condominiums, office buildings and retail centers.

Economic factors, including soaring fuel prices, have caused developers like Eugene Marchese to focus attention on transit-oriented projects.

Marchese's San Diego-based company, Constellation Property Group, bought about 2 acres near Sun Devil Stadium in Tempe on which it intends to develop Stadium Tower.

Current plans for the project, which Marchese expects to break ground on in early 2009, include a 20-story residential building, a 17-story hotel and retail space.

As gas becomes more expensive and drive times grow longer, public transit becomes more attractive, said Marchese, who added that's whydevelopments built with commuters in mind fare well.

"What we find is there's a higher demand for the product because of the location (near light rail)," he said.

Developers also expect the arrival of light rail to deliver a boost to property values in certain areas surrounding the line - a phenomenon that has happened in other cities that have built their own systems.

In metro Dallas, median values between 1997 and 2001 increased nearly 25 percent for office buildings and about 32 percent for residential properties near light-rail stations, according to a University of North Texas study.

That compares to an 11.5 percent increase for comparable office buildings and a 19.5 percent hike for residential properties not located near light-rail stations.

"

Phoenix-based Equus Development Corp. currently is putting the finishing touches on Century Plaza, a 15-story office tower in midtown Phoenix it has converted into a 17-story condo building.

Equus bought the building at the southeast corner of Central and Lexington avenues in December 2004. The property's location just south of a future light-rail station was one factor that enticed the company to develop there.

"We were very specific to select right around a light-rail station," said Douglas Edgelow, president of Equus.

Equus also is drafting plans to build four new high-rise towers that could include a five-star hotel, office space and more residential units.

The condo project has seen a significant amount of leasing activity. The company has received down payments on about 80 percent of Century Plaza's 145 units, which are currently priced from about $370,000 for a one-bedroom unit to $2.5 million for a two-floor penthouse, according to Michael Webb, a sales representative for Equus Realty LLC.

Webb and Edgelow say the project's location on the light-rail line, which cuts down Central Avenue to downtown Phoenix, has helped spur demand, along with proximity to office buildings and downtown's entertainment venues.

Commercial real-estate brokers say light rail also has become an attractive selling point for non-residential projects.

Marcus Muirhead, an associate vice president in Colliers International's Phoenix office, said the transit system has even helped spur interest in older office properties that are within a stone's throw of the line.

There is "strong interest" among investors for Class B and C office properties, older buildings that do not include the latest amenities and need improvement, that are located within a few blocks of Central Avenue, Muirhead said.

Muirhead and his colleague, Charlotte Christian, say they expect to see properties within a half-mile of the line to get a boost in value down the road.

"It has created demand and I think it will create more price increases when the rail is in operation," said Christian, a senior vice president with Colliers International who specializes in mixed-use projects.

Christian represented Marchese, the San Diego developer, in his purchase of land for his proposed Stadium Tower project. Marchese said he paid $6.5 million for the approximately 2 acres about two years ago.

As the Valley's office market struggles to retain and attract tenants during the economic downtown, light-rail proximity also could be an effective marketing point for landlords trying to lease space.

Mindy Korth, an executive vice president with CB Richard Ellis Inc. in Phoenix, recently highlighted the presence of light rail in a marketing package for Meridian Tower, a 21-story office building at 3550 N. Central Ave. she is marketing on behalf of its owner.

Light rail also could benefit retail centers, which have taken a hit because of the general downturn in the economy.

Mike James, deputy transportation director for Mesa, pointed to the Tri-City Pavilions at the end of the current light-rail line.

The neighborhood retail center, which is anchored by a Safeway, could fare well from people who don't want to drive to do their shopping, said Greg Greenstein, president of JG Management Inc. The Westlake Village, Calif.-based real-estate investment firm bought the center in 2006.

"Our feeling is that (its location) will add trips to the shopping center because of the adjacent park and ride station," said President Greg Greenstein.

[Don B.]

^ Good article and good stuff. :)

--don

[azsunsurfer]

There is a new project proposed by Irgens Development Partners wonder where the hell this is suppose to go?!? As quoted in the publication:

"979 Playa del Norte (Tempe) will be a 100,000 SF, Class A office building located just southeast of the Loop 202 and Scottsdale Rd interchange and adjacent to Tempe Town Lake. Groundbreaking is slated for 2009."

The image is kinda small to scan but it looks cool, 4 stories of office over a 4 story parking garage? This just came out of nowhere and Im not sure where they are planning to build this since ALOFT is almost topped out and ONYX is suppose to break ground soon.

[azsunsurfer]

Here is a story I found about it, still not sure where in that site it's going?

http://phoenix.bizjournals.com/phoenix/stories/2008/04/21/daily60.html?ana=from_loop

[HX_Guy]

I hope it's more grand then just an 8 story building with the way the VP of Irgens is describing this thing...

"Upon completion, this development will be one of the most prominent buildings on the Loop 202 freeway and will be a landmark to the Tempe Town Lake area," said Mike O'Connor, senior vice president of Irgens."

[loftlovr]

^ I know right!?
I love the way these developers puff...
"The most luxurious destination yet to be witnessed in the Southwest; it will blow your mind".

Well, yeah, but its also an 8 story Commercial building.

[soleri]

I stopped by Centerpoint's condo sales' center this morning. The 22 story tower is 30% sold and sales haven't begun for the 30 story tower. Indeed, the public report has yet to be issued for it! How was a project funded without sufficient pre-sales? A "sympathetic lender". Price points are from the mid 300s for a studio to several million, averaging over $500/sf. HOA fees will run around 50c/sf.

Other projects in Tempe are stalled until the market turns around. Of course, no one really knows how long the downturn will last. More importantly, Centerpoint's sales will be the barometer by which other developers gauge the market for high-rise condos. And if the market doesn't turn around soon? Avenue Communities, the developer, will be stressed to either somehow divest its Tempe project or face bankruptcy.

This kind of story is as old as Arizona and it's boom-and-bust cycles. I'm a native, however, and I've never seen it this bad. The one silver lining is that there will be some enticing bargains for the bottom feeders among us.

[tempedude]

^Good to see you Soleri. Interesting to hear that condos in the 30 story tower haven't gone up for sale yet.

There is a new project proposed by Irgens Development Partners wonder where the hell this is suppose to go?!? As quoted in the publication:

"979 Playa del Norte (Tempe) will be a 100,000 SF, Class A office building located just southeast of the Loop 202 and Scottsdale Rd interchange and adjacent to Tempe Town Lake. Groundbreaking is slated for 2009."

The image is kinda small to scan but it looks cool, 4 stories of office over a 4 story parking garage? This just came out of nowhere and Im not sure where they are planning to build this since ALOFT is almost topped out and ONYX is suppose to break ground soon.

I believe there is some vacant property just due east of the Aloft hotel site, and fronts on Playa del Norte Drive, not directly on the lakefront as the article sort of implies.

[loftlovr]

Thanks for posting that info Soleri.
It sure will be interesting to see the way Centerpoint unfolds....

[andrewkfromaz]

^I think the argument he is making is that you lose some efficiency in the power generation just based on the amount of available square footage. Obviously a big plant in the middle of the desert wouldn't have this problem.

Still, I tend to fall on the side of SunDevil in that the university saves a little money and gets the PR and student learning values of being a solar campus.

Andrew, wouldn't the land cost alone of a large section of desert make the rural solar plant idea for ASU infeasible? (Though I do recognize the obvious in that a large rural solar plant could power ALOT more than just ASU, but it would likely require federal dollars and years of political BS to get started). I'm sure somebody has thought of it.

The building roofs are free real estate for the solar companies and free equipment and installation for the university. A win-win.

The point I was trying to make is that the University is never going to be a great producer of power - even carbon neutrality, a relatively modest goal, can only be attained by offsetting and efficiency increases.

I think it's great that ASU is doing this, but I wonder if, in the long run, people won't recognize that it's more efficient for ASU to just buy solar energy from a huge APS plant out in the middle of nowhere. This would be essentially the same as today's power distribution system, only using green energy sources. This article (http://www.azcentral.com/arizonarepublic/news/articles/0221biz-solar0221.html) talks about the APS plant outside Gila Bend - this system will be far more efficient and cost-effective compared with any rooftop system.

Obviously ASU loses part of the "green cred" by just buying power off the grid, but someday these decisions will be made logically, rather than for the PR/marketing people.

[loftlovr]

http://www.bizjournals.com/phoenix/stories/2008/06/23/daily60.html?f=et73&ana=e_du

Friday, June 27, 2008 - 12:23 PM MST
Hayden Ferry Lakeside Tower II sold for $93M

Phoenix Business Journal - by Yvonne Zusel Phoenix Business Journal

SunCor Development Co. has sold a commercial office tower in its Hayden Ferry Lakeside Bridge to Bridge development in Tempe to a subsidiary of Sumitomo Corp. of America for $93 million.

The 12-story, 299,540-square-foot Hayden Ferry Lakeside's Tower II, sits on the south shore of Tempe Town Lake and is the second commercial office building sold since the development broke ground in 1999.

The building is 83 percent leased, with KPMG, MetLife and Fidelity National Title Insurance among the tenants.

HF Lakeside II LLC is the subsidiary of New York-based Sumitomo, a trading and investment firm.

Randy Levin, vice president of commercial/urban development and design for SunCor, said the deal with Sumitomo is ideal.

"They're a fabulous company," he said. "They care about quality and they're bullish on Phoenix."

He said the fact that it was a cash deal also helped in a market where the credit crunch can be "nerve-wracking from a seller's perspective."

The Hayden Ferry Lakeside Bridge to Bridge development also includes another commercial office tower, purchased by Arden Realty Inc. in 2005; two luxury condominium towers; a 10-level parking structure; and a three-story mixed-use loft office building.

There are plans for more commercial and residential structures, including 11 towers to be built between the Mill Avenue bridge and the Rural Road bridge.

For more: www.haydenferrylakeside.com.

[ciweiss]

^^^^^
The AZCentral article also mentioned this:

Hayden Ferry Lakeside currently has another eight-story office building, which serves as SunCor's headquarters, and two condo buildings that SunCor developed. Late this year, the company also plans to start building a third office building.

[flyer84]

Yes, the third and last office building at HFL will be 10 stories and it will be closest to the intersection of Rio Salado and Mill. I think once this office building is built it will give a lot more density to the corner. Still a bit disappointing that the development isn't very streetfront oriented but i do like how the buildings are designed to resemble ships. It looks really nice next to Tempe Town Lake. Here is the siteplan once again for those who haven't seen it. I've circled the third office building that is not yet built.

http://img241.imageshack.us/img241/5199/hflsiteplanop5.jpg (http://imageshack.us)

[ciweiss]

^^^
Flyer84 thanks for posting that. I think you are correct that once that building goes in it will make that whole corner look a lot better than an empty lot and the garage. If any of you get a chance you should go back there and take a look. The north side of the garage has potential for offices/shops and the 3rd building should fill things in pretty nice. I am curious what it will actually look like from the street view (eg Mill).

I wish the South side (Rio Salado side) would have done something more like the city hall parking structure shown below. I think that is the best looking parking structure I have ever seen. I wish more parking structures took that kind of design. They don't all have to look like concrete eye sores.


http://www.tempe.gov/business/Development_Report/Tempe%20in%20Progress/parking%20structure%20panel.pdf

On a side note they are going to town on the South Bank project. They even took out part of Rio Salado constructing it. I also see some activity over at the Onyx. I hope sales go well for them. I am a bit surprised they appear to be going for it as bad as other projects sales are going. Perhaps they see a turn in the market.

[tempedude]

I look at Hayden Ferry Lakeside everyday.....I dont care if they build a 1000ft tower there...blech...don't like it sorry...Mill Ave..isn't anything great either..what a one street drag...for what 7 blocks whoopee!!!!

[Tempe_Duck]

I wish the South side (Rio Salado side) would have done something more like the city hall parking structure shown below. I think that is the best looking parking structure I have ever seen. I wish more parking structures took that kind of design. They don't all have to look like concrete eye sores.


http://www.tempe.gov/business/Development_Report/Tempe%20in%20Progress/parking%20structure%20panel.pdf



Where is that parking structure going and when will it be built?

[flyer84]

The new parking garage is being built directly east of Tempe City Hall, a.k.a the upside down pyramid building, on 5th St. It will be next to the new Marriott Residence Inn that will be going up on the corner of Forest Ave. and 5th St. Apparently, part of the parking garage will be reserved for the hotel to use. I too really like the design of this parking garage. It has such a nice street presence and a lot of stone and brick incorporated into it. Very nice for downtown Tempe.

[tempedude]

The new parking garage is being built directly east of Tempe City Hall, a.k.a the upside down pyramid building, on 5th St. It will be next to the new Marriott Residence Inn that will be going up on the corner of Forest Ave. and 5th St. Apparently, part of the parking garage will be reserved for the hotel to use. I too really like the design of this parking garage. It has such a nice street presence and a lot of stone and brick incorporated into it. Very nice for downtown Tempe.

blech....downtown Tempe....is that a joke?..actually....I asked asked about this stupid garage weeks ago...and I also spoke to a site foreman connected to the garage and hotel construction.... and he said the hotel was to begin in two weeks....huh...that hasn't happened yet has it?

[PHXguyinOKC]

what's the word with the Monti's project??

[HooverDam]

blech....downtown Tempe....is that a joke?

Huh? Are you saying there is no downtown Tempe? Downtown Tempe is the most urban, walkable place in the entire state. From the river on the north, to Apache on the South, Rural on the East and Hardy on the West, its all very urban, infilling at a good clip, and quite walkable. Once light rail is running, it'll be even more so. Add in the Orbit shuttles and its all connected quite well.

[tempedude]

Huh? Are you saying there is no downtown Tempe? Downtown Tempe is the most urban, walkable place in the entire state.

No...I am not saying that there is no downtown Tempe. Actually, DT Tempe is very walkable, urban, and enjoyable. It still has a long way to go though before I'll declare it the best spot on the planet. Just my opinion.

From the river on the north, to Apache on the South, Rural on the East and Hardy on the West, its all very urban, infilling at a good clip, and quite walkable. Once light rail is running, it'll be even more so. Add in the Orbit shuttles and its all connected quite well.

LOL...I live in the heart of Tempe...I see this stuff everyday. I am simply not very happy with Tempe (city hall) right now.

So...ehhh...yeah you caught me slamming my city on a day where I was in a very lousy mood. Sorry. Was I being mature? Probably not. Did it feel good? Heck yeah! For a minute.

In all reality, I love Tempe, Phoenix, and basically the whole metro area very much. Its where my loyalty lies. Quite awhile ago, I stated that I was more interested in the developments going on in downtown Phoenix than anywhere else in the valley. That statement is still true today, and it is not in any manner a slam on Tempe. Both cities have stuff going for them that I am excited about.

And, I can't wait for the light rail to open. The rail is going to bring about development we haven't even forseen. Take a drive down Apache Blvd. in Tempe, you will be quite surprised at whats going on. In fact, ground was broken just this week (on an old dusty lot) for a retail development right across from the Apache and Dorsey Station. Its going to be built right up to the sidewalk with no parking in front at all from what I know of othe plans.

This development would not have happened for a very long time (if even at all) if it were not for the light rail. Its a prime example of good things to come for properties close to the light rail. Tempe, Phoenix, and Mesa (and all other cities where the rail will be) are going to benefit greatly. Mark my words. :)

[Jsmscaleros]

Anyone else wondering why neither Tempe or Phoenix seem to think it's possible to build apartment/condo high rises that are not strictly for the rich?

[Jsmscaleros]

On an entirely different note, to anyone who runs/bikes/otherwise likes to exercise or hang out at Tempe Town Lake, you might find this of interest:

http://www.tempe.gov/maps/DevProjectDetails.aspx?LocationID=764f27c4-439c-4794-95fb-1c335a5aac43

I was thoroughly disappointed with the appearance of the LRT bridge spanning the lake, so it seems they upped the ante a bit with this one.

[Sonoran_Dweller]

WOW!!!! I never expected it would look that good. I was expecting a lame straight slab of concrete like the Rural Road bridge is. This is great, glad to see it is a eye pleasing design. Thanks for showing us. Welcome.

[HooverDam]

On an entirely different note, to anyone who runs/bikes/otherwise likes to exercise or hang out at Tempe Town Lake, you might find this of interest:

http://www.tempe.gov/maps/DevProjectDetails.aspx?LocationID=764f27c4-439c-4794-95fb-1c335a5aac43

I was thoroughly disappointed with the appearance of the LRT bridge spanning the lake, so it seems they upped the ante a bit with this one.

What disappoints you about the Tempe LRT bridge? That thing is pretty awesome, especially at night.

http://www.tempe.gov/lake/Development/Images/lightrailtempe01.jpg

http://www.tempe.gov/lake/Development/Images/lightrailtempe02.jpg

[Jsmscaleros]

Did they recently turn the lights on? Haha, must be a recent development - I've since been in Tokyo for a few months so I've only seen it unlit. Not necessarily sold on rainbows, but it looks a lot more vibrant at night, for sure.

[vertex]

^Nope, the lights have been installed and operable since they finished the bridge last summer. They only turn them on for special events.

The lights are animated; the colors will cycle thru, and are designed to change color whenever a train passes over the bridge. It's not a fast, flashing, strobe-like effect designed to induce a seizure, but rather subtle, especially up close. It's easier to see the effect from a distance, like the Mill Ave. bridge.

[ciweiss]

Jsmscaleros
Anyone else wondering why neither Tempe or Phoenix seem to think it's possible to build apartment/condo high rises that are not strictly for the rich?

Welcome Jsmscaleros! That is a good question. I think the reason everyone was going highend is because 2 years ago there were a lot of investers that were easily able to afford those types of places. Now that times have changed I think they will start some developments that are aimed at the middle class. The high end ones will sit for a while I believe. Not everyone needs granite countertops. I think the developers were also making big profit during the high times of a few years ago. I think they will also have to come back down to earth with smaller profit percentages on new developments.

The lightrail bridge is cool especially at night. The pedestrian bridge is a great design. They did a good job on that one. Also - for you bikers they are finishing up the sidewalk from the Art Center to Priest. So soon you will be able to bike around the whole area and cut across on the bridge. Course it sounds like they will need to replace the dams pretty soon. I would hate to be on the lake when one of those things gives...

[tempedude]

Whats really cool about the lighting on the light rail bridge is that it is all fiber optic. I have seen some really cool lighting displays done with the bridge. For example, I once saw the lights mimic something like LRT vehicles traveling across and passing each other on the bridge over the lake.

I hope that once the light rail opens in December, that the bridge will be lit up at nite all the time. Just like the lights on the Mill Ave. bridge.

ciweiss...I was wondering the same thing about the west end dams also. I don't think we will see any pedestrian bridge until a permanent fix is found for the dam. Right now fixing the dam is priority, and it sounds like it may cost upwards of $22 Million if the dam has to be replaced. Its sad to hear that Bridgestone quit making the type of dam that is installed there now.

I pulled the pic (for easy viewing) of the pedestrian bridge from the link that Jsmscaleros posted.

Jsmscaleros welcome!

The concept looks really hot! I hope that when built, it really does look like this.

http://farm4.static.flickr.com/3210/2624218169_347d006da3_o.jpg
Source (http://www.tempe.gov/maps/DevProjectDetails.aspx?LocationID=764f27c4-439c-4794-95fb-1c335a5aac43)

[trigirdbers]

Welcome new guys-

Populism aside, the reason that high rise condos are so expensive is that the materials needed to build them are very expensive. In fact, many buildings in the Valley are selling for very close to what it cost to build them. The reason that other cities have cheaper condos is because they have a bunch of old building stock that they can rehab, avoiding the cost of new construction.

Hope this helps.

[UTAZLoVer]

Anyone else wondering why neither Tempe or Phoenix seem to think it's possible to build apartment/condo high rises that are not strictly for the rich?

Land prices are too high to make affordable/attainable projects pencil without significant subsidization from the government. That's why you see all these projects available only to those who can afford a lot more than your average Arizonan. (Or any other average American for that matter....)

:)

[PhxSprawler]

Land prices are too high to make affordable/attainable projects pencil without significant subsidization from the government. That's why you see all these projects available only to those who can afford a lot more than your average Arizonan. (Or any other average American for that matter....)

:)

It is more about construction costs than land prices around the valley, hence the sprawling single-family homes vs. high-rise condos.

[ciweiss]

Interesting. The sprawling days are nearing an end with gas going up. Who wants to live in Buckeye or Queen Creek as gas reaches 5$. My guess is any vacant land within the main City limits will start to get utilized pretty quick. All them fields and dirt lots will start to get bought up and projects way out of town will start to slow down. Light rail WILL BE well used.

[PhxSprawler]

Interesting. The sprawling days are nearing an end with gas going up. Who wants to live in Buckeye or Queen Creek as gas reaches 5$. My guess is any vacant land within the main City limits will start to get utilized pretty quick. All them fields and dirt lots will start to get bought up and projects way out of town will start to slow down. Light rail WILL BE well used.

If you hadn't read a newspaper or watched the news, you would never know there was a housing slowdown when driving through Chandler, Gilbert, North Scottdale, Glendale, Buckeye, Peoria, Tolleson, Maricopa, Casa Grande, etc. Masterplanned communities and strip malls are still going up and roads are still being widened. It will be interesting to see when the progress comes to the inevitable stop being widely discussed in this forum and in the media.

[UTAZLoVer]

It is more about construction costs than land prices around the valley, hence the sprawling single-family homes vs. high-rise condos.

Although steel construction (obviously) is more expensive to build than wood-frame, it is the high land prices that keep highrises so expensive per square foot versus the suburban single family homes. The reason we see all this sprawl in Phoenix is in fact because land at the edges of our desert metropolis is the least expensive, whereas land in the more central areas is many times the price of its exurban counterparts. Land in Downtown Tempe is trading at over $100 a foot, whereas land in Buckeye is being sold (or not being sold in this market...) at a fraction of the price, allowing builders to offer homes at a much more attainable price.

In the end, both factors play into the equation to determine the final selling price of any given dwelling unit. Rising construction costs and high land prices come together in downtown Phoenix, Tempe, and Scottsdale to force nearly all these highrise projects to cater to the rich in order to turn a profit. You could build an identical high rise in Queen Creek (put aside the fact that you'd never get such a project past the City Council or local residents) at a much more modest cost, enabling you to pass the savings to the buyer and offer beautiful condos at an attainable price. That scenario, however, will obviously never play out in the Phoenix Metro and highrise condos will continue to be offered at exclusive pricing without significant government subsidization that would encourage developers to offer a lower-priced product.

:)

[HX_Guy]

I think due to density, the cost per unit in the downtown for the land is actually lower then in the suburbs, therefore it has to be the construction cost of building with steel and concrete vs wood.

Saw a developer picks up a few acres in the suburbs at $250,000 per acre (which I think is pretty accurate, depending on the area of course) and you build a typical 7,000 sq ft lot...that comes out to about 6 homes or $41,666 per house in land costs.

If a developer picks up a lot downtown, say 1/2 acre for $5 million, and builds a 200 unit tower...you're looking at $25,000 per unit in land costs.
Plus, you can build way more then 200 units on a 1/2 acre and lower your price even more.

[ciweiss]

There is a small crane and a bunch of trucks at Hayden Ferry Lakeside where commercial building 3 will be located. Maybe a Tower crane will follow. :tup: Either that or the fireworks will be off the chart this year...

[Jsmscaleros]

Interesting stuff, guys, thanks for responding.

In terms of high-rises, though, why is it not just as feasible to investors/contractors to build a 28-story high rise apartment tower near downtown Tempe with far more units at a more affordable cost? The number of tenants goes up with the increased number of units (since they're generally much smaller than giant condos), off-setting the higher price that the wealthy are going to pay at the Centerpoint or Onyx towers, for example. Plus, having a higher density of middle-class Americans is better for local business than a smaller number of the upper-class, no?

Just doesn't make sense to me. Especially not in downtown Phoenix, where the average income of people living in that area is near poverty. It seems like we're being set up for a huge gentrification process that will force lower income families to move... somewhere. We're already seeing it in the Roosevelt arts district which is painfully young and already falling apart due to expensive condos moving in.

[loftlovr]

Onyx was supposed to be a little bit more affordable of a highrise.
If memory serves me correctly, I believe prices were to start from $420 psf instead of $500-$600 psf. (still not affordable by all means but a bit better)

Hate to say it but, I have a feeling Centerpoint could end up as a luxury rental community if the developer doesn't sell units quickly once completed.
I imagine a pretty high payment on a construction loan of that size!

[plinko]

^Allow me to also interject that labor is fully 1/2 the cost of construction. Building a highrise requires significantly more skilled labor and technical personnel and thus drastically increase the costs.

That being said, there aren't alot of contractors and sub-contractors in Phoenix filling all of these various capacities who have lots of experience building highrises. The guys who know how to do it can charge a premium. This will change with the completion of more and more of them.

Not like you can go fill up a truck at the labor pick-up and have them jump in and go right to work operating boom cranes, jumping formwork, and performing precision welds.

Just a thought...

[UTAZLoVer]

^Allow me to also interject that labor is fully 1/2 the cost of construction. Building a highrise requires significantly more skilled labor and technical personnel and thus drastically increase the costs.

That being said, there aren't alot of contractors and sub-contractors in Phoenix filling all of these various capacities who have lots of experience building highrises. The guys who know how to do it can charge a premium. This will change with the completion of more and more of them.

Not like you can go fill up a truck at the labor pick-up and have them jump in and go right to work operating boom cranes, jumping formwork, and performing precision welds.

Just a thought...

Great point - experienced crane operators are commanding upwards of $40 an hour because there is such a shortage. Also the cost of renting the cranes themselve is up significantly compared to previous years as well.

Cheers!

[Jsmscaleros]

Switching gears a little bit -
I didn't see any information about the Equinox development on the SE corner of Apache and McClintock so far in this thread, so if I may...

http://www.tempe.gov/Maps/DevProjectDetails.aspx?LocationID=a558dc6a-c4a5-4dfe-bf42-be78fe579900

I'm really interested to see how this type of community ends up gelling in Tempe. I'm also glad that Tempe is not just building another park n' ride lot and that they are exploring options that actually contribute to the look of the built environment when it comes to parking. The street level retail will be especially nice. I'm glad the city is starting to finally bring stores up to to the sidewalk instead of pushing them behind a parking lot.

[combusean]

^ No park-and-ride lot will stay a park-and-ride lot. The "park-and-ride" lots are really the other edge of the light rail sword--the massive assembly and redevelopment of sites along its path.

[Sekkle]

Switching gears a little bit -
I didn't see any information about the Equinox development on the SE corner of Apache and McClintock so far in this thread, so if I may...

http://www.tempe.gov/Maps/DevProjectDetails.aspx?LocationID=a558dc6a-c4a5-4dfe-bf42-be78fe579900

I'm really interested to see how this type of community ends up gelling in Tempe. I'm also glad that Tempe is not just building another park n' ride lot and that they are exploring options that actually contribute to the look of the built environment when it comes to parking. The street level retail will be especially nice. I'm glad the city is starting to finally bring stores up to to the sidewalk instead of pushing them behind a parking lot.

Nice! I passed that corner when I was in the Valley in April and thought they were just building some huge parking structure. Great to know it will be wrapped with retail.

Here's a rendering from the website linked above...
http://www.tempe.gov/Maps/Picture.aspx?PictureID=3930aae4-5920-4a93-87f9-7d650ec2572a

[tempedude]

^

:) I can throw a pebble from my front door and hit that development. (OK, I am stretching the truth a lil, but I can see the very top of it from my front door. :yes:)

They are now in the begining stages for building the wrap around retail and apartments. This thing is going to be pretty cool, and I am glad it isn't staying just as an ugly old parking gargage. As it is now, its a hideous eyesore.

[PHX31]

When I was working on the light rail, our field office was basically on that corner. Some (much) of the area around there, at that time, was pretty dodgy and shady with countless amounts of what seemed like meth heads and crackwhores walking around. I hope this isn't planned to be and "upscale" development, becuase I really doubt much of the area around it can support something like that. I'd like to see some new development like this geared towards the areas they are being built in. Upscale Scottsdale-esque shopping destinations don't work at all in many locations.

[plinko]

I had no idea they were wrapping that garage. Awesome! When I drove past it in May I was awestruck by how un-open and brutal the garage was and wondered to myself why it was designed that way. Makes alot of sense now.

Apache through Tempe is going to be quite the corridor 10 years from now (running the rail in the street is spurring substantial development). I can't see why Metro would even consider the I-10 alignment for the West Valley. They need only look at Sacramento, which has had lite rail for 20+ years in the freeway median) to show how little development it has helped come to fruition.

Preaching to the choir I know...

[PhxSprawler]

:previous: I agree about the freeway median, especially driving on Glendale form Central to the stadium. There is so much potential for infill, especially through downtown Glendale with its historic charm that is taken for granted.

[tempedude]

I think it would be great if the light rail were run all the way up Grand Ave. from downtown Phoenix to Glendale Ave.- Then out Glendale Ave. to Westgate where the Cardinals stadium and the Coyotes hockey arena are. Just my opinion...don't want to get to far off topic. This is the Tempe projects thread. :)

[ciweiss]

:previous: I agree about the freeway median, especially driving on Glendale form Central to the stadium. There is so much potential for infill, especially through downtown Glendale with its historic charm that is taken for granted.

I agree - Might as well leave the freeway to the rapid bus system. Heck - give them their own lane. Lightrail through Glendale over to the stadium would be very cool indeed.



When I was working on the light rail, our field office was basically on that corner. Some (much) of the area around there, at that time, was pretty dodgy and shady with countless amounts of what seemed like meth heads and crackwhores walking around. I hope this isn't planned to be and "upscale" development, becuase I really doubt much of the area around it can support something like that. I'd like to see some new development like this geared towards the areas they are being built in. Upscale Scottsdale-esque shopping destinations don't work at all in many locations.
^^^
- I did not know about the wrap around retail as well. Thank goodness. That was the worst looking parking lot I had ever seen. And your right PHX31. You can't go highend at this local. Not anytime soon anyways. It you go medium end you will be doing this neighborhood some good. Just don't put in check cashing and cigs for less. Apache has cleaned up well over the past couple of years. They still have a ways to go. There are a lot of crack heads and ladies of the night still hanging around. Tempe did a good thing by putting a police station there. It would be nice if Mesa did as well on their side. Mesa needs to continue LR to DT. That area needs a pickup before it dies...

[Don B.]

^ What the hell are "ladies of the night?" Do you mean a prostitute, or, more colloquially, a whore? Are we no longer allowed to call a whore a prostitute, and we have to use the more politically correct term "lady of the night?"

:D

--don

[Vicelord John]

^ What the hell are "ladies of the night?" Do you mean a prostitute, or, more colloquially, a whore? Are we no longer allowed to call a whore a prostitute, and we have to use the more politically correct term "lady of the night?"

:D

--don

stop being a dick.:tup:

[ciweiss]

That is funny. :D I was thinking sex for free challenged. I've also heard the term who eR.
Oh - and I've seen a lot in the day as well.:cool: Ladies of the day doesn't sound quite right...

[PHX31]

^ What the hell are "ladies of the night?" Do you mean a prostitute, or, more colloquially, a whore? Are we no longer allowed to call a whore a prostitute, and we have to use the more politically correct term "lady of the night?"

:D

--don


what the hell? I thought it was a funny/cool term to use for a whore. I don't think he was being PC.

[Jsmscaleros]

Yeah I think a lot of people (like myself) were initially confused as to what that giant concrete block was going to be.

It's very similar in design concept (not so much in appearance) to the Alta Phoenix condo development going up in downtown at Filmore and 5th street. The condos wrap around the garage so you essentially drive right up to your front door. Sort of a nice way to reach out to those who like to park close by their door.

http://forum.skyscraperpage.com/showthread.php?t=139658

By the way, to answer someone's question, The Equinox Apartments (McClintock and Apache) are being developed by the same contractor that built the Grigio, if that gives you any kind of an idea as to the demographic moving in. ...So, basically spoiled college kids with rich parents.

[Don B.]

Was in town yesterday from Prescott (man, it's fraking hot down here) to look at the new place (inspection) and move my photos to a new spot in a gallery on Roosevelt, and we drove by downtown Tempe on the 202.

There's a new and rather large crane just west of Mill around Rio Salado or a little further south. Any clue what this crane is for? It almost looked like it was on the site of the Monti's project. It might also be for US Airways Phase II, but it seemed very tall for a short building.

Downtown Tempe is looking very cool. Pity it's not adjacent to downtown Phoenix.

--don