Tempe Development Thread

[muertecaza]

TIs are just about done for the Starbucks at the Union. Sign on the door says it's opening January 4.

https://i.imgur.com/xVal4thh.jpg

And the Canopy Hilton is about halfway up.

https://i.imgur.com/cuVwnLvh.jpg

The Insomnia cookie place and Nektar juice place both look close to ready to open as well.

[soled]

TIs are just about done for the Starbucks at the Union. Sign on the door says it's opening January 4.

https://i.imgur.com/xVal4thh.jpg

And the Canopy Hilton is about halfway up.

https://i.imgur.com/cuVwnLvh.jpg

The Insomnia cookie place and Nektar juice place both look close to ready to open as well.

I believe someone here mentioned Sauce was going in the Union. Anyone know if that's still on? My daughter lives in downtown Tempe and it's her favorite quick-bite Italian.

[muertecaza]

I believe someone here mentioned Sauce was going in the Union. Anyone know if that's still on? My daughter lives in downtown Tempe and it's her favorite quick-bite Italian.

Last I've seen of it was when it was confidently reported in PBJ last month:

https://www.bizjournals.com/phoenix/news/2018/11/12/160-million-tempe-development-completes.html

I haven't seen any signage or work being done, but I also haven't heard anything to the contrary.

[Mr.RE]

https://farm5.staticflickr.com/4903/32537080608_79efff6d09_b.jpg

https://farm5.staticflickr.com/4899/46358194742_5cbc61115d_b.jpg

https://farm5.staticflickr.com/4891/46358194812_ff4b4b7cf2_b.jpg

Updated renderings for Gilbane Student Housing Project. Their website changed the community name from Alor to Apollo.

[muertecaza]

Updated renderings for Gilbane Student Housing Project. Their website changed the community name from Alor to Apollo.

Nice, thanks for posting. The garage poking out about the housing units is a little annoying, but not worth griping over too much. I still really like the corner at Terrace.

Someone just needs to get that Super 8 redeveloped now.

[Mr.RE]

Nice, thanks for posting. The garage poking out about the housing units is a little annoying, but not worth griping over too much. I still really like the corner at Terrace.

Someone just needs to get that Super 8 redeveloped now.

The design on the corner really activates that intersection really well with a prominent architectural element as a highlight, similar to the Greek housing hard corner on rural/terrace.

The Super 8 small lot size would be great more of a mid to high rise product. Rising between Apollo and The Rise would fill in that area nicely. Would be cool to see a hotel fit in there, similar to the canopy Hilton.

[soled]

Last I've seen of it was when it was confidently reported in PBJ last month:

https://www.bizjournals.com/phoenix/news/2018/11/12/160-million-tempe-development-completes.html

I haven't seen any signage or work being done, but I also haven't heard anything to the contrary.

Thanks, muertecaza!

[cygnusloop99]

ASU has finally posted some official info on what they are doing ISTB 7. Official construction will start in January. IMO not as good as the Studio MA design but it will defiantly bring some energy to that intersection, especially once the Novus development gets going to the north.

https://cfo.asu.edu/ISTB7

https://cfo.asu.edu/sites/default/files/styles/slideshow/public/images/slides/aerial_from_south_-_no_pv.jpg?itok=M1mKNKev

[Mr.RE]

Not overly excited about the design either. I wish there was more street activation along rural and not such a large set back unless that is intended to be a round a bout driveway for pick up/drop off. Hopefully that corner is heavily landscaped.

I'm curious to see what the color scheme/materials used will be for the exterior of the building.

[ASUSunDevil]

Architekton's design looks great to me. Also curious about the facade materials that they'll use.

'Natural' landscaping is a theme throughout ISTB, so I don't expect a ton of street activation off of Rural. The signage in the renderings will probably replace the current signage on Rio Salado & Rural as Novus moves north.

[muertecaza]

Not overly excited about the design either. I wish there was more street activation along rural and not such a large set back unless that is intended to be a round a bout driveway for pick up/drop off. Hopefully that corner is heavily landscaped.

I'm curious to see what the color scheme/materials used will be for the exterior of the building.

The setback on Rural looks like a driveway to me, you can see a car in the rendering.

Architekton's design looks great to me. Also curious about the facade materials that they'll use.

'Natural' landscaping is a theme throughout ISTB, so I don't expect a ton of street activation off of Rural. The signage in the renderings will probably replace the current signage on Rio Salado & Rural as Novus moves north..

I like the design too. Glad they kept the atrium as in the Studio Ma renderings--makes me wonder whether that was one of the requirements for the RFP. Can't think of many cool atriums in the Phoenix area.

[ciweiss]

Some Tempe developement news in the latest issue.

https://azbigmedia.com/publications/azre-nov-dec-2018/

[ASUSunDevil]

Some Tempe developement news in the latest issue.

https://azbigmedia.com/publications/azre-nov-dec-2018/

Tempe is on fire. I don't think Downtown PHX gets a new tallest until Tempe Town Lake is 'filled in' (5-10 years).

[Mr.RE]

Most updated drone pictures I could find of the Watermark. Now onto the rentable office floor construction and the parking garage and retail has begun. Cant wait for this to open later this year.

https://farm5.staticflickr.com/4868/45663157275_2be4188d56.jpg
https://farm5.staticflickr.com/4871/31636397047_9132c72361.jpg

[muertecaza]

Most updated drone pictures I could find of the Watermark. Now onto the rentable office floor construction and the parking garage and retail has begun. Cant wait for this to open later this year.

Nice! I hadn't noticed that the parking garage had started. Really excited for this one.

[muertecaza]

Tempe development map showing Farmer Arts Parcel 1 (https://www.tempe.gov/Home/ShowDocument?id=57175) and Novus 777 Tower (https://www.tempe.gov/Home/ShowDocument?id=65354) as having applied for building permits. :cheers::cheers::cheers:

Tempe development continues apace.

[Mr.RE]

I thought the farmers lot was a dead deal! This is great news.

[muertecaza]

I believe someone here mentioned Sauce was going in the Union. Anyone know if that's still on? My daughter lives in downtown Tempe and it's her favorite quick-bite Italian.

Signs are up for Sauce on the retail space at the corner of 7th/Myrtle.

https://i.imgur.com/aQ2H8Toh.jpg

[soled]

Signs are up for Sauce on the retail space at the corner of 7th/Myrtle.

https://i.imgur.com/aQ2H8Toh.jpg

Thank you, sir! My daughter will be excited.

[muertecaza]

Tower crane waiting to go up at the Collective.

https://i.imgur.com/msJ6xL6h.jpg

https://i.imgur.com/YP8pFVyh.jpg

https://i.imgur.com/ZQ2uhQhh.jpg

[CB1]

https://www.google.com/amp/s/www.cpexecutive.com/post/amp/financing-a-vision-at-watermark-tempe/

[Mr.RE]

Anyone know what is going on with the Westin Hotel? Building permits were issued, and ground work started last month with watering the site for excavation but nothing since. I saw equipment on the site yesterday but looked like it was being used to house the collectives crane equipment until it went vertical.

[muertecaza]

Anyone know what is going on with the Westin Hotel? Building permits were issued, and ground work started last month with watering the site for excavation but nothing since. I saw equipment on the site yesterday but looked like it was being used to house the collectives crane equipment until it went vertical.

No idea. Been wondering the same thing. My semi-educated guess is that they weren't actually ready to build (whether because of financing or otherwise), but went ahead and applied for the building permit to save having to ask for an extension on their entitlements. Tempe has been cracking down on the speculative entitling of property that smacks of land-banking by making entitlements (in this case the development plan review) good for only 1 year, and indicating that they are not going to just blindly renew and extend the entitlements if there isn't any work being done. So to save themselves going back through the development plan review process, they went ahead and applied for and got the building permit? I very well could be wrong, but that's my guess. But the whole thing is weird, with the "groundbreaking" back in February, 2018, and signage going up and down on the fence surrounding the lot.

In better news, this view from the Mirabella cam is awesome with the Collective tower crane up:

https://i.imgur.com/Qtr2kPWh.jpg

Would be cool if they shifted the camera so it included the Canopy Hilton.

[CrestedSaguaro]

That area is going to look good when these all built :tup:

No idea. Been wondering the same thing. My semi-educated guess is that they weren't actually ready to build (whether because of financing or otherwise), but went ahead and applied for the building permit to save having to ask for an extension on their entitlements. Tempe has been cracking down on the speculative entitling of property that smacks of land-banking by making entitlements (in this case the development plan review) good for only 1 year, and indicating that they are not going to just blindly renew and extend the entitlements if there isn't any work being done. So to save themselves going back through the development plan review process, they went ahead and applied for and got the building permit? I very well could be wrong, but that's my guess. But the whole thing is weird, with the "groundbreaking" back in February, 2018, and signage going up and down on the fence surrounding the lot.

In better news, this view from the Mirabella cam is awesome with the Collective tower crane up:

https://i.imgur.com/Qtr2kPWh.jpg

Would be cool if they shifted the camera so it included the Canopy Hilton.

[Mr.RE]

I wonder if the Westin is going to use a boom crane instead of a tower crane for their development. The only reason I speculate is because that airspace is quite crowded with the collective crane near by and the westin has the vacant lot next door to park the crane on an hoist/lift materials onto the site. Not sure if boom cranes have the ability to built something 18 stories tall? My knowledge is limited when it comes to construction cranes.

In other news, we should start to see construction at both ISTB-7 and Tower 777 at Novus commence sometime in February as site work has been completed.

[phoenixwillrise]

I wonder if the Westin is going to use a boom crane instead of a tower crane for their development. The only reason I speculate is because that airspace is quite crowded with the collective crane near by and the westin has the vacant lot next door to park the crane on an hoist/lift materials onto the site. Not sure if boom cranes have the ability to built something 18 stories tall? My knowledge is limited when it comes to construction cranes.

In other news, we should start to see construction at both ISTB-7 and Tower 777 at Novus commence sometime in February as site work has been completed.

Possibly but the cranes on the Mirabella and Block 23 DT PHX site are pretty darn close to each other. just sayin.

[ASUSunDevil]

In other news, we should start to see construction at both ISTB-7 and Tower 777 at Novus commence sometime in February as site work has been completed.

That's 7 tower cranes on University between Rural & Mill once Westin gets going. On the lake you'll have Watermark, The Grand, Biomedical Campus, 100 Mill, Weitz Company project and The Pier. That's 13 really big projects that could be under construction at the same time. Pretty awesome for Tempe :tup:

Curious if this one is still alive: http://www.orionprop.com/topfive/golub-co-of-chicago-to-develop-393-apartments-in-24-story-tower-near-asu/

[azsunsurfer]

That's 7 tower cranes on University between Rural & Mill once Westin gets going. On the lake you'll have Watermark, The Grand, Biomedical Campus, 100 Mill, Weitz Company project and The Pier. That's 13 really big projects that could be under construction at the same time. Pretty awesome for Tempe :tup:

Curious if this one is still alive: http://www.orionprop.com/topfive/golub-co-of-chicago-to-develop-393-apartments-in-24-story-tower-near-asu/

Holycrap! I can't believe that was entitled that long ago! That corner is cursed!

Also the Gilbane development on Apache is already working on it's underground garage while Park Place across the street still hasn't started work yet.....and the Gilbane development went thru the whole entitlement process AFTER Park Place.

[Mr.RE]

Updated pictures of the both the apartments and office tower at The Grand. Coming along nicely!

https://farm8.staticflickr.com/7892/46690158391_e6ec22bbfa.jpg
https://farm5.staticflickr.com/4833/46690159751_c7b4cd7006.jpg
https://farm8.staticflickr.com/7816/46637475582_87b85d21e1.jpg
https://farm5.staticflickr.com/4862/46690162211_b0cebe9913.jpg

[Mr.RE]

Found this picture of what the Local looks like today Vs. when it opens. Getting pretty close!

https://farm5.staticflickr.com/4814/39727566773_244f02da70_b.jpg

[muertecaza]

Found this picture of what the Local looks like today Vs. when it opens. Getting pretty close!

Looks good. I was walking by today and saw that they are putting up a brick facade on the back side of the parking structure (the side facing the railroad tracks, not shown in that rendering). I wonder if they will have the brick facade all the way around (thus a change from the renderings), or only facing the tracks?

[Spitfiredude]

I'm not sure if anyone has mentioned this, but the first building at IDEA is on its 4th or 5th floor already - out of 6. Its just kind of appeared out of nowhere.

Also AG is suing Crow for selling properties with no property taxes. Kind of see both sides on this.

[combusean]

I wonder if the Westin is going to use a boom crane instead of a tower crane for their development. The only reason I speculate is because that airspace is quite crowded with the collective crane near by and the westin has the vacant lot next door to park the crane on an hoist/lift materials onto the site. Not sure if boom cranes have the ability to built something 18 stories tall? My knowledge is limited when it comes to construction cranes.

In other news, we should start to see construction at both ISTB-7 and Tower 777 at Novus commence sometime in February as site work has been completed.

Luffing tower cranes are built for constructing highrises in tight environments. Basically a boom on top of a tower.

[combusean]

Also AG is suing Crow for selling properties with no property taxes. Kind of see both sides on this.

I actually want to see this play out. State Farm and Novus make it difficult for private property owners to compete the way I understand it.

[muertecaza]

I actually want to see this play out. State Farm and Novus make it difficult for private property owners to compete the way I understand it.

I'm interested to see it as well. I will say it's a bit rich for the State to slash educational funding in the recession, leading ABOR to look for other revenue sources, only for the State now to sue to say those revenue sources aren't acceptable after ABOR is already elbows deep in their new life as a real estate developer.

I'd also be interested to talk to someone more in the know about the effect on private property owners. It's not like Tempe is short on non-ASU development--Fenix is building Watermark offices on spec, the Grand is scooping up tenants, apartments going up everywhere, etc.

[DesertRay]

I'm interested to see it as well. I will say it's a bit rich for the State to slash educational funding in the recession, leading ABOR to look for other revenue sources, only for the State now to sue to say those revenue sources aren't acceptable after ABOR is already elbows deep in their new life as a real estate developer.

I'd also be interested to talk to someone more in the know about the effect on private property owners. It's not like Tempe is short on non-ASU development--Fenix is building Watermark offices on spec, the Grand is scooping up tenants, apartments going up everywhere, etc.

Brnovitch is an idiot. It's funny that he sues ASU to offer nearly-free tuition while his buddies slash educational funding to the bone AND while he's suing that ASU found another way to pay for education. If he was doing his job, he would ALSO sue the Legislature for failing to live up to their Constitutional obligation to keep tuition low. If he had his chance, he would sue Gravity for impinging on his Liberty.

I'm guessing he will end up not having standing. His argument that this makes other taxpaying entities pay for taxpayer stuff that these parcels would theoretically pay for seems like he's trying to establish standing. Trouble is that he's basing his standing upon speculation, and there are so many conflicts with the STATE AG suing the STATE Board of Regents who are making decisions for Arizona STATE University. All of the entities represent Arizonans, and he's reaching to be the fella' who knows what's best for e'rryone. We'll see.

[Spitfiredude]

I see it both ways. ASU claims state cuts are the reason they’re leasing out the lands & it’s money for people who attend ASU...that’s just not true. All this land is being leased out for funding for ASU athletics, not the general student population. Literally all of the athletic village is going to be used for athletic revenue. So is the Mirabella plot.

[Mr.RE]

They mentioned the proposed Omni Hotel and Conference center in the article and how Byrnovich demands they must pay taxes especially for that particular use. Wouldn't the hotel already be paying a huge sum in sales and bed tax already? Or are those taxes also exempt due to the lease agreement bundled with property tax reduction?

All in all, a total buzzkill is what this is. Trying to turn the public against public/private development which will only slow down the progress ASU is making on the NOVUS corridor. Even if this case goes no where, any negative press on ASU's developments are sure to bring public scrutiny along with it.

[Obadno]

This seems like a really strange thing for the AG to go after, lets just Kneecap ourselves I guess?

https://www.bizjournals.com/phoenix/news/2019/01/10/arizona-ag-sues-regents-over-commercial-real.html

The Arizona Attorney General sued the Arizona Board of Regents on Thursday looking to block Arizona State University's practice of allowing developers to build on the university's tax exempt land.

The case, filed in Arizona Tax Court, seeks to end the practice allowed by the regents, which is the governing body of the state’s three public universities.

“ASU is a public university, not a commercial enterprise or an urban development authority,” Arizona Attorney General Mark Brnovich wrote in the lawsuit. “It is inappropriate for this educational institution to pick winners and losers in the highly competitive property development industry by negotiating for the use of ABOR's tax shielding status.”

In a statement released Thursday evening in response, ASU officials said, "This frivolous lawsuit is a huge waste of taxpayer money, time and energy, and it saps the public's faith in our elected officials."

In the lawsuit, Brnovich said a hotel and conference center, called the Omni Tempe, which was approved by ABOR to be built on land owned by the board, must be subject to taxes.

The hotel and conference center, planned on 2.25 acres near Mill Avenue and University Drive, was approved by ABOR in 2016, and approved by the city of Tempe in 2018.

In the development agreement, there would be the option for Omni Hotels Management Corp. to lease the land from ASU, and ASU would serve as the landlord of the commercial development for a 60-year period.

“Irrespective of who owns the Omni Property and improvements thereon, the improvements must be subject to tax as an improvement on possessory rights if a hotel and convention center is built on the site,” Brnovich wrote.

Brnovich calls for the Maricopa County Assessor to place the Omni property on the tax roll and asks the Maricopa County Treasurer to collect the appropriate taxes if the project is built on the property.

Previous deals
The suit mentions Marina Heights, the largest commercial real estate sale in the state of Arizona, which was built on 20 acres of land owned by ABOR and leased back to private companies for 99 years. The deal exempts Marina Heights from property tax.

Brnovich asserts in the lawsuit the deal was done in such a way that would indicate the regents were doubtful of the board’s legal ability to complete such a deal. Brnovich cites a provision in the lease that states if the arrangement in the deal was to be declared unlawful for any reason, the “lessee can force the city of Tempe to take title of the improvements and impose a GPLET on the property to ensure a backup, preferential tax treatment without the use of ABOR’s status.”

A GPLET, or government property lease excise tax, involves private developers building on land owned by public bodies, such as cities, which result in developers and businesses on that land paying lower property taxes than if they owned the land.

The suit also mentions the Mirabella Luxury Senior Living condo community, which is under construction on land owned by ABOR. The property already was leased for 99 years to Mirabella at ASU Inc., an affiliate of Pacific Retirement Services, an Oregon-based nonprofit.

"With another mega-deal in the works, this court must now hold ABOR and ASU accountable and require both to adhere to their enumerated powers as provided by the constitution and Legislature," Brnovich wrote.

[combusean]

They mentioned the proposed Omni Hotel and Conference center in the article and how Byrnovich demands they must pay taxes especially for that particular use. Wouldn't the hotel already be paying a huge sum in sales and bed tax already? Or are those taxes also exempt due to the lease agreement bundled with property tax reduction?


I don't see how they would avoid hotel bed taxes imposed by Tempe. Tempe has incorporated the whole of the campus.

The big issue seems to be property taxes on facilities outside the athletic district. Novus has an enabling act that sets land lease rates (property tax) as competitive with local governments. Brnovich isn't suing over that, just ASU's ventures on Mill and University. His reading of the law is moronic tho. Excess land should be used as a source of income to support the university, and it is. No individual at ASU is getting rich off these things.

[muertecaza]

I don't see how they would avoid hotel bed taxes imposed by Tempe. Tempe has incorporated the whole of the campus.

The big issue seems to be property taxes on facilities outside the athletic district. Novus has an enabling act that sets land lease rates (property tax) as competitive with local governments. Brnovich isn't suing over that, just ASU's ventures on Mill and University. His reading of the law is moronic tho. Excess land should be used as a source of income to support the university, and it is. No individual at ASU is getting rich off these things.

The Omni deal specifically actually does include sales and bed tax rebates as well as the property tax relief provided by ASU. This was possible because it was a three-way deal including Tempe. Omni gets 100% rebate on sales/bed taxes for 10 years, and 90% rebate for 20 more years after that.

https://www.azcentral.com/story/news/local/tempe/2018/01/11/tempe-tax-break-hotel-and-conference-center-too-steep/1020421001/

The Omni deal was always the most egregious to me. I could imagine that one being the "straw that broke the camel's back" for the conservative fiscal hawk-types. Tempe tried to justify the deal by making the point that they would be getting nothing from that land otherwise, because it's ASU land and it's currently a parking lot. But I don't find it that convincing. However you slice it, it's still a $21m giveaway. To show a "proportionate" benefit for the tax incentive, Tempe had to use a 60 year timeline to show that they'll be getting sales and bed taxes on the back end. I doubt it's comforting to anyone bothered by that deal that whoever owns the hotel (if it's even around in thirty years) will start paying taxes then.

[Spitfiredude]

I’m not going to defend Michael Crow / ASU here, especially when Crow is a snake when it comes to development. I mean the guy killed the Univ/College Ave project & tried killing the Union when he was planning to develop a parcel 500 ft to the west. This was obviously because he couldn’t get his USA basketball / Omni built, but other hotels & developments were good to go right down the street. He’s also kicked off scooters because he wasn’t making money off it. While the lawsuit might be ridiculous, he’s kinda getting karma with his complaining about city development.

[phoenixwillrise]

I think it is fantastic that ASU can reap the benefits of their own land. The money is being used to build a world class university. I think in the end they will be vindicated. Crow is thinking outside the box on many of the endeavors the university is involved in and ASU is lucky to have him. He could name his ticket at any university in America and they would hire him in a heartbeat.
These companies are still paying the equivalent of a property tax and that money is going to build world class facilities. Anyone who has a problem with that thinks small myopic ball. You would think the legislator in particular would be more than happy ASU is tapping this resource as the state is strapped for cash and has been cutting funds to the universities for years.
As far as the last comment on scooters. They are big time liability on a campus like ASU. Should they take that liability just so you can scoot around on your little scooter?
The reason the USAA basketball deal didn't happen is that the numbers on it just didn't pan out as a positive for ASU.

[combusean]

If the developer gets the bed tax rebate, that sounds like a subsidy.

Maybe Brnovich isn't off his gourd for intervening in these sweetheart deals for developers. I'm mixed in this. On one hand, government shouldn't pick and choose who gets to play along with these deals. At the same time, if the greater private market is the one that is victimized by these deals maybe they should be the ones filing suit through their respective associations rather than leaving taxpayers at large liable for the cost of the lawsuit. Now who's picking and choosing?

Brnovich might be technically right but this feels just like busybody conservative flag-waving.

[Spitfiredude]

ASU is not a world class university. It is a middling PAC 12 school in both athletics & academics. Don’t read into the rhetoric. US News ranks ASU 9th in the PAC-12. Behind UCLA, USC, Stanford, Cal & Washington (okay)....Colorado, Oregon, UA (that’s embarrassing). The idea to do what Crow is doing with land was Steve Patterson’s idea back in the early 2010s. Ray Anderson has done a great job, but Crow has done as much damage as he has good. Don’t be blinded. Having a degree from ASU is not elite & in the end that’s all that matters. Not “innovation” rhetoric. It’s also BS that he’s the most paid president in the US. The only people that think ASU is doing better than USC, UCLA, Stanford, etc. are those who buy into Crow’s crap.

[PHXFlyer11]

ASU is not a world class university. It is a middling PAC 12 school in both athletics & academics. Don’t read into the rhetoric. US News ranks ASU 9th in the PAC-12. Behind UCLA, USC, Stanford, Cal & Washington (okay)....Colorado, Oregon, UA (that’s embarrassing). The idea to do what Crow is doing with land was Steve Patterson’s idea back in the early 2010s. Ray Anderson has done a great job, but Crow has done as much damage as he has good. Don’t be blinded. Having a degree from ASU is not elite & in the end that’s all that matters. Not “innovation” rhetoric. It’s also BS that he’s the most paid president in the US. The only people that think ASU is doing better than USC, UCLA, Stanford, etc. are those who buy into Crow’s crap.

It certainly has world class programs, like business. But yea, if people don't major in the right things and get accepted into those programs well... their own issue.

[phoenixwillrise]

ASU is not a world class university. It is a middling PAC 12 school in both athletics & academics. Don’t read into the rhetoric. US News ranks ASU 9th in the PAC-12. Behind UCLA, USC, Stanford, Cal & Washington (okay)....Colorado, Oregon, UA (that’s embarrassing). The idea to do what Crow is doing with land was Steve Patterson’s idea back in the early 2010s. Ray Anderson has done a great job, but Crow has done as much damage as he has good. Don’t be blinded. Having a degree from ASU is not elite & in the end that’s all that matters. Not “innovation” rhetoric. It’s also BS that he’s the most paid president in the US. The only people that think ASU is doing better than USC, UCLA, Stanford, etc. are those who buy into Crow’s crap.
I said he is developing it into a world class university. If you haven't seen the progress made there in the last ten years you aren't paying attention. The Barrett College at ASU has more National Merit Scholars then any school in the country that did not exist just a few years ago. As far as those worn out ratings by US News who died and annointed them the official rating service?
The fact that ASU will let lower rated students in and then it's up to them to make it or not doesn't sit well with some educators. Props to ASU for not being snobs and elitist. It is a state school one of it's purposes is to serve the students of the the state of Arizona. Sorry but an AD even if he did come out with this idea could not implement such a plan without the President of the University behind it. It happened on Crow's watch. Name one University President that has come even close to being as innovative as Crow? Give props where they are due and get over your scooter.

[Obadno]

ASU is not a world class university. It is a middling PAC 12 school in both athletics & academics. Don’t read into the rhetoric. US News ranks ASU 9th in the PAC-12. Behind UCLA, USC, Stanford, Cal & Washington (okay)....Colorado, Oregon, UA (that’s embarrassing). The idea to do what Crow is doing with land was Steve Patterson’s idea back in the early 2010s. Ray Anderson has done a great job, but Crow has done as much damage as he has good. Don’t be blinded. Having a degree from ASU is not elite & in the end that’s all that matters. Not “innovation” rhetoric. It’s also BS that he’s the most paid president in the US. The only people that think ASU is doing better than USC, UCLA, Stanford, etc. are those who buy into Crow’s crap.

Whats with the Butthurt in this post? Dick measuring contests about "elite schools" is annoying.

Unless you are going to one of the big time top colleges I dont want to hear about how X state school is better than Y state school.

And even that I am dubious about considering Harvard admitted David Hogg for being a well known political activist and Ive met Harvard, Berkeley and MIT grads I frankly didn't find very impressive.

Actually the only "elite" school Ive seen any consistency of graduates and students that impresses me has been Notre Dame.

[Mr.RE]

Driving around Downtown Tempe yesterday on Mill made me realize how much construction is going on! With all the cranes, road closures, and construction equipment at virtually every street corner, it excites me to see the future of tempe in the coming years. Once 100 mill office and the hayden flour mill gets going and the streetcar construction, Mill ave will be an absolute mess to try and drive through until 2021.

But hey, that's the price we pay for new development in a hot submarket:shrug:

[muertecaza]

Facade of The Local coming together:

https://i.imgur.com/lX6zwx4h.jpg

And the view down University is looking cool:

https://i.imgur.com/vr6Uu6Nh.jpg

[muertecaza]

Not great timing given the negative press and legal challenge, but there was a presentation on the Omni Hotel last week to the Joint Review Committee (Tempe citizen committee that does design review for ASU projects). It has renderings and some information:

https://www.tempe.gov/Home/ShowDocument?id=70880


16 story hotel with 2 story conference center
21,300 sq. ft. of meeting space (significantly less than the 30,000 sq. ft. advertised at the time of the deal)
7,500 sq. ft. of restaurant space along University, and 650 sq. ft. of general retail space along Mill


Renderings look like the building would fit in well with the Union and Mirabella. Still of two minds somewhat on the tax break issues, but the design of the building itself seems fine.

[Mr.RE]

Not great timing given the negative press and legal challenge, but there was a presentation on the Omni Hotel last week to the Joint Review Committee (Tempe citizen committee that does design review for ASU projects). It has renderings and some information:

https://www.tempe.gov/Home/ShowDocument?id=70880


16 story hotel with 2 story conference center
21,300 sq. ft. of meeting space (significantly less than the 30,000 sq. ft. advertised at the time of the deal)
7,500 sq. ft. of restaurant space along University, and 650 sq. ft. of general retail space along Mill


Renderings look like the building would fit in well with the Union and Mirabella. Still of two minds somewhat on the tax break issues, but the design of the building itself seems fine.

I love the storefront glass along university. Will fit in nicely next to Mirabella, and I like how the south facing side is different and provides a more neutral color scheme rather than the orange/brown accent color panels. Just excited to finally see some plans! Should've done a rooftop pool though like Canopy.

[ASUSunDevil]

^ WOW. Way better than I expected.

No way Crow lets weirdo Brnovich shut that one down.

[soled]

I love the storefront glass along university.

I have no clue how many other people feel the same way, but when I'm choosing a hotel to stay in I always want to favor the one with as much glass and window as possible. I'd rather take in expansive views than feel like I'm just waiting out my next shower debacle while peering through tiny prison windows.

[soled]

Facade of The Local coming together:

https://i.imgur.com/lX6zwx4h.jpg

And the view down University is looking cool:

https://i.imgur.com/vr6Uu6Nh.jpg

It probably seems like a small thing on the surface, but the one thing this west entry point into downtown Tempe is missing is the demolition of that scummy Circle K across the street.

[ASUSunDevil]

It probably seems like a small thing on the surface, but the one thing this west entry point into downtown Tempe is missing is the demolition of that scummy Circle K across the street.

That Circle K was recently renovated, unfortunately.

[phoenixwillrise]

When it the scheduled opening and is it on schedule? I hope they have one of their restaurant areas in it where you can grab a beer and a burger or slice of pizza etc.

[muertecaza]

When it the scheduled opening and is it on schedule? I hope they have one of their restaurant areas in it where you can grab a beer and a burger or slice of pizza etc.

The Local website lists April, 2019 as projected open date--not sure if that applies to the Whole Foods as well. And the website says they will have the full bar and a mezzanine-level dining area.

https://www.thelocaltempe.com/wholefoods#

[xymox]

Not great timing given the negative press and legal challenge, but there was a presentation on the Omni Hotel last week to the Joint Review Committee (Tempe citizen committee that does design review for ASU projects). It has renderings and some information:

https://www.tempe.gov/Home/ShowDocument?id=70880


16 story hotel with 2 story conference center
21,300 sq. ft. of meeting space (significantly less than the 30,000 sq. ft. advertised at the time of the deal)
7,500 sq. ft. of restaurant space along University, and 650 sq. ft. of general retail space along Mill


Renderings look like the building would fit in well with the Union and Mirabella. Still of two minds somewhat on the tax break issues, but the design of the building itself seems fine.

Are there plans to build more on this corner? Seems like there's more room...

[muertecaza]

Are there plans to build more on this corner? Seems like there's more room...

Not that I know of. Yeah, it's interesting that the plan doesn't extend the conference center to 9th St. I believe Mirabella extends all the way to 9th st. more or less, and I believe south of 9th st. there's a parking garage planned. In some of the technical drawings in the packet the area between the conference center and 9th st. is just a blank blob. :shrug:

Update to Tempe development map (https://www.tempe.gov/Home/ShowDocument?id=61009): 100 Mill has applied for a building permit :cheers:. It's listed as just a "foundation" permit, but still, can't be bad.

[azsunsurfer]

Umm...so there have been numerous articles lately that Amazon/ Whole Foods has pulled the plug on the 365 format and has no more plans for any new stores...not sure what's going to happen to the one at the Local, they just installed the escalators along University...maybe it just becomes a smaller "regular" Whole Foods??

[azliam]

Umm...so there have been numerous articles lately that Amazon/ Whole Foods has pulled the plug on the 365 format and has no more plans for any new stores...not sure what's going to happen to the one at the Local, they just installed the escalators along University...maybe it just becomes a smaller "regular" Whole Foods??

A 365 store had been under development in Tempe for more than a year at a nine-story, 80,938-square-foot mixed-use project called the Local. Officials from Forum Real Estate Group, the Colorado-based developer of the project, confirmed that the Local will now have a Whole Foods Market store, not a 365 store.

https://www.bizjournals.com/phoenix/news/2019/01/15/whole-foods-wont-open-any-more-365-stores-chaning.html

[LocoPhoenician]

Umm...so there have been numerous articles lately that Amazon/ Whole Foods has pulled the plug on the 365 format and has no more plans for any new stores...not sure what's going to happen to the one at the Local, they just installed the escalators along University...maybe it just becomes a smaller "regular" Whole Foods??

Word on the street is the Wholefoods at Rural and Baseline ls closing in August for the move to The Local. Then Aldis will move into the that vacant space.

[azsunsurfer]

That makes sense..might be some overlap with their store in Chandler.

Aldi is also opening at the new Papago Plaza in Scottsale. I wonder if the ASU district will lure a grocer? Wasn't that the ground floor of the hotel at the Union supposedly earmarked for a grocery store? I assume it's going to be just the lobby for the hotel with maybe a bar and dry market?

[alexico]

Word on the street is the Wholefoods at Rural and Baseline ls closing in August for the move to The Nothing local about it Local and Aldis has interest in that site.

so no whole foods in downtown tempe?

[poconoboy61]

so no whole foods in downtown tempe?

There will be a Whole Foods in downtown Tempe. The location on Rural and Baseline is closing because the location in downtown Tempe is opening. The space on Rural and Baseline will be filled by Aldi, a discounted grocer.

[LocoPhoenician]

so no whole foods in downtown tempe?

https://www.azcentral.com/story/news/local/tempe/2019/01/19/whole-foods-nixes-cheaper-concept-set-open-tempe/2589966002/?fbclid=IwAR0d0h1CE3ceH50F5sbmn1J_ugSa2x-NlV0D_v9XjkmUSjytYD1MnhpFmr8

[muertecaza]

My favorite view in Tempe right now, with Canopy, Mirabella and the Collective all going:

https://i.imgur.com/jaHvaPkh.jpg

[muertecaza]

Spinatos is moving across Rio Salado from their original location to that retail building that hangs out over the sidewalk in the Rio 2100 development.

https://www.bizjournals.com/phoenix/news/2019/01/22/spinato-s-closing-original-tempe-location-will.html

There was something cool about the old location in the light industrial area, but this sounds like a great move for them and a great get for Rio 2100.

[stutteringpunk]

Spinatos is moving across Rio Salado from their original location to that retail building that hangs out over the sidewalk in the Rio 2100 development.

https://www.bizjournals.com/phoenix/news/2019/01/22/spinato-s-closing-original-tempe-location-will.html

There was something cool about the old location in the light industrial area, but this sounds like a great move for them and a great get for Rio 2100.

The problem with the old location, according to the owner, is that the surrounding offices and facilities made getting a liquor license impossible. It was also a little too small (one bathroom) for the amount of people that consistently showed up.

I agree though, I like the new move.

[Mr.RE]

News on Monti's

https://www.bizjournals.com/phoenix/news/2019/01/22/interior-restoration-proceeds-in-former-montis.html

[soled]

News on Monti's

https://www.bizjournals.com/phoenix/news/2019/01/22/interior-restoration-proceeds-in-former-montis.html

Behind a paywall. Does anyone have the whole story?

[Obadno]

Behind a paywall. Does anyone have the whole story?

Reggie Mackay, owner of Adobe Technology, said while there is no approved timetable yet for when the office development will begin construction, he anticipates his team will have the historic home fully stabilized when that work begins to minimize any risks of damage during the nearby construction.

By June, Mackay expects to have most of the interior adobe complete and will begin work on the building’s exterior. As part of that work, portions of the home that are not historic will be demolished.

Hines and Cousins closed on the land for the office and other development in December. The companies paid $19.5 million for 2.5 acres of land. Cousins also owns the nearby 111 West Rio building, Hayden Ferry Lakeside and Tempe Gateway.

[soled]

Reggie Mackay, owner of Adobe Technology, said while there is no approved timetable yet for when the office development will begin construction, he anticipates his team will have the historic home fully stabilized when that work begins to minimize any risks of damage during the nearby construction.

By June, Mackay expects to have most of the interior adobe complete and will begin work on the building’s exterior. As part of that work, portions of the home that are not historic will be demolished.

Hines and Cousins closed on the land for the office and other development in December. The companies paid $19.5 million for 2.5 acres of land. Cousins also owns the nearby 111 West Rio building, Hayden Ferry Lakeside and Tempe Gateway.

Thank you, Obadno!

[Mr.RE]

Anyone know what is going on with these outdated Art buildings at ASU off Mill? I heard a developer is in preliminary stages of working with ASU to repurpose these buildings into something more purposeful. I know the Related Group was looking at Downtown Tempe deals and they do like to incorporate art into their projects pretty extensively. Maybe its a collaboration? Would be cool to see a high rise with a ground floor art gallery for student and local artist use to display their work. That would be very unique.


https://farm8.staticflickr.com/7919/32988218028_d118e373ff_b.jpg

[CB1]

https://azbigmedia.com/downtown-tempes-the-local-will-open-in-april/

[Mr.RE]

https://azbigmedia.com/downtown-tempes-the-local-will-open-in-april/

The rendering is definitely newer than what we have seen in the past. Finally integrating that red color I have been seeing painted on the exterior. Pretty excited for this one! In need of a close grocery store option near downtown tempe.

[CB1]

Looks like construction at Millenium Rio Salado has commenced.

https://www.tempe.gov/Home/ShowDocument?id=64682

[Mr.RE]

https://www.bizjournals.com/phoenix/news/2019/01/25/shaping-uphow-novus-corridor-aims-to-put-arizona.html?ana=e_mc_prem&s=newsletter&ed=2019-01-25&u=tRpCdCSoWdPo0gVWLcURbQ0fac03ca&t=1548429178&j=86266761

Arizona State University-owned land may be the target of a lawsuit over diversion of property taxes, but its massive real estate development designed to fund ASU’s athletics facilities is progressing forward unscathed.

Overall, the Novus corridor just east of Phoenix has nearly $1 billion worth of projects in the works, making it the largest single concentration of construction in the state, possibly in the Southwest, said Charley Freericks, senior vice president of Catellus, the project’s master developer.

The corridor, which runs along the north and east side of ASU’s Tempe campus, will add office space, hotel rooms, retail, restaurants and residential developments into the Valley’s hottest submarket. Already it has developed Marina Heights, the regional home to State Farm with more than 2 million square feet of office space.

Even as the Arizona Board of Regents works to defend a separate project on university-owned land, ASU officials see their way forward in protecting their Novus investment with a state law that gives universities the ability to develop athletic facilities districts. Instead of paying property taxes, those developments pay fees to ASU that ultimately will fund upgraded athletics facilities.

So far, Arizona Attorney General Mark Brnovich’s lawsuit isn’t targeting Novus. ASU’s facilities district allows money that would be collected as property taxes to be received as in-lieu fees that support the university. That distinction could allow the project to fulfill the university’s plan.

For ASU, the money gleaned from Novus is seen as a way to keep the university competitive in the increasingly expensive world of college athletics, where schools around the country are finding new ways to raise revenue.


Plans to allow private development on the 330 acres designated as ASU’s athletic facilities district started “as a self-help tool” in the wake of diminishing state funding for universities following the Great Recession. The lack of money meant athletics often was among the first departments to see budget cuts.

“We realized quickly that was the tail wagging the dog,” said Morgan Olsen, chief financial officer of ASU. “We’ve got 300 acres [to use] for large-scale development.

https://farm5.staticflickr.com/4835/39907612203_081bd29ab6_c.jpg

In 2010, the Arizona Legislature gave universities the ability to create an athletic facilities district where private development could be built and, instead of property taxes, the developers would pay in-lieu fees to the university that would directly fund athletics.

“The university realized the resources it would need to be competitive at the college level in the Pac-12, and it would be expensive to provide that type of environment,” Olsen said. “You can argue right or wrong, but it is.”

According to the law, the land had to be contiguous, and ASU chose property it determined was not needed for its “core mission” of educating students, Olsen said.

Funding athletic operations through the district can help to relieve the burden from other university funding sources, which have been pinched by state funding cuts, Olsen said. The university anticipates the district will raise about $500 million over two decades, funds the law requires to go to the creation or maintenance of athletics facilities.


In the most recent year, ASU ranked No. 30 nationwide in terms of athletic revenue, pulling in $101 million, according to USA Today’s most recent analysis. Tops in the U.S. is the University of Texas in Austin, which had revenue of $214 million during the 2016-17 school year. Adding an additional $50 million annually would greatly benefit ASU’s athletics efforts and put it at the top of the Pac-12.

Grand plans

At buildout, Novus will have 4 million square feet of office space, 670 hotel rooms and 300,000 square feet of retail, according to data from ASU. About half the development that takes place in the corridor will be office, according Freericks.

Novus is more than just a funding mechanism for athletics. It could put Arizona on the map for significant company relocations and large corporate headquarters, Olsen said.

While Arizona did not make the short list for Amazon’s HQ2, “that opportunity is still there for another organization,” Olsen said. “State Farm could have gone anywhere, and now those jobs are here. That is the model we are trying to put in place here. There are benefits to working with a world-class university.”

Horizontal improvements have begun on a 262-unit luxury apartment complex and a six-story, 162,000-square-foot office building on the east side of Rural Road at Sixth Street along the future road that will be named Novus Place. Groundbreaking for the developments is planned for the first quarter.

“The focus will be heavier on office and residential,” Freericks said of the Novus corridor at full build-out. “We want to complement Mill Avenue, not compete with it. We anticipate this being more of a business district.”

Most of the corridor’s retail space is planned for ground floors of office, hotel and residential developments, according to plans shared by ASU.

In the next phase of development, the third phase, about 30,000 square feet of retail and restaurant space is planned, Freericks said. The development will include a multi-tenant food hall space, which Freericks said “will be a terrific way to anchor Novus Place.”

The development is planned over seven phases, two of which — the Marina Heights development that became the State Farm office complex and the Sun Devil Stadium remodel — are completed. Marina Heights, the biggest office development in the state, is not within the facilities district’s physical boundaries, but is being treated the same as the district, a spokeswoman for ASU said.

The development’s land will come from razing ASU’s dated athletics facilities, including the ASU Karsten Golf Course, baseball’s Packard Stadium and Sun Angel Stadium, the track and field complex. The ASU Golf teams’ new home course will be the Papago Golf Course, and ASU Baseball began playing its home games at Phoenix Municipal Stadium in 2015.

“The city of Phoenix had a course that needed some love for a fraction of the cost of upgrading Karsten,” Freericks said. “We can create revenue on the site to help pay for the university growing.”

Public golf courses generally do not create much profit, Freericks said, so constructing office space on the former course will generate millions of dollars worth of in-lieu fees over time.

To replace some of the athletic facilities that will be razed, ASU will build a state-of-the-art athletics village within the Novus corridor. The facility will include tennis, track and field, soccer and other sports facilities.

“We want the tennis facilities to be a destination for college tennis,” Freericks said.

https://farm5.staticflickr.com/4864/46147635294_1c8fe81633_c.jpg

‘Philosophical opposition’

The bill to allow the creation of the facilities district failed its first time in the state legislature, but passed in 2010.

Sean McCarthy, senior research analyst at the Arizona Tax Research Association, which opposed the bill at the time, said even though Novus follows what the law allows for an athletic facilities district, the group remains “philosophically opposed” to the idea because it diverts property taxes away from local governments and school districts.

“As a general rule, we oppose the idea of redirecting taxes that are supposed to fund local governments,” McCarthy said.

Unlike other developments that have drawn scrutiny from the Arizona Attorney General for using university land to avoid property taxes, facilities district developments do not receive the same financial incentive because they require in-lieu fees, which go to the university instead of cities, school districts and other entities.

Brnovich is suing the Arizona Board of Regents in Arizona Tax Court regarding 2.25 acres near Mill Avenue and University Drive destined to be an Omni Hotels Management Corp.-branded hotel and conference center. The lawsuit was filed because that project would mean the hotel avoids property taxes by having ASU take over the deed of the building.

McCarthy said Novus is “better than the Omni [hotel development],” because it does not have the incentive of avoiding property taxes.

ATRA originally worked with legislators in 2010 during the law’s passage to advocate for oversight and regulation on the districts, such as requiring approval by the county’s board of supervisors for the creation of the district boundaries, McCarthy said.

“We will be monitoring it to make sure everything is done within the bounds of the law,” he said.

Demand in Tempe

The additional office space has been a boon for Tempe, which has some of the highest rents in the Valley, both for multifamily residential and for office space.

According to Cushman & Wakefield research, Tempe’s average multifamily rent was $1,195 for a two-bedroom unit, above the Valley’s average of $1,136. Tempe’s vacancy rate was slightly higher than the Valley’s average, with a 5.4 percent multifamily vacancy in the submarket.

Tempe had the lowest office vacancy of any submarket in the Valley at the end of the third quarter, with a 4.7 percent vacancy rate, according to CBRE research. Rent for office space in Tempe was $29.10 per square foot, the third-highest price for office space in the Valley.

[phoenixwillrise]

That the myopic AG of AZ doesn't screw up the plans ASU has for the Omni and this Novus Project. It appears from the Novus Article that that portion is safe from this myopic loser and hopefully ASU can get a summary judgement against this grand stander and get this Omni Project Lawsuit thrown out as well.

[muertecaza]

Article on theSussex/squater case:

https://www.azcentral.com/story/news/local/tempe/2019/01/25/dispute-between-tempe-squatter-steve-sussex-city-continues-in-arizona-appeals-court/2661163002/

They just had oral argument at the court of appeals. That likely means a decision in the next couple months. Sussex's lawyer seems committed to angling for a financial settlement, so I wouldn't be surprised to see him draw this out with an appeal to the Arizona Supreme Court. Even if they don't take the case, that's another couple months. Seems like resolution some time this year is likely.

[MegaBass]

Anyone know what is going on with these outdated Art buildings at ASU off Mill? I heard a developer is in preliminary stages of working with ASU to repurpose these buildings into something more purposeful. I know the Related Group was looking at Downtown Tempe deals and they do like to incorporate art into their projects pretty extensively. Maybe its a collaboration? Would be cool to see a high rise with a ground floor art gallery for student and local artist use to display their work. That would be very unique.


https://farm8.staticflickr.com/7919/32988218028_d118e373ff_b.jpg

Gallery 100, Sacks Sandwich, Archaeological Research Institute and an annex (former ceramics gallery)

[Mr.RE]

Article on theSussex/squater case:

https://www.azcentral.com/story/news/local/tempe/2019/01/25/dispute-between-tempe-squatter-steve-sussex-city-continues-in-arizona-appeals-court/2661163002/

They just had oral argument at the court of appeals. That likely means a decision in the next couple months. Sussex's lawyer seems committed to angling for a financial settlement, so I wouldn't be surprised to see him draw this out with an appeal to the Arizona Supreme Court. Even if they don't take the case, that's another couple months. Seems like resolution some time this year is likely.

Thoughts on a good proposal for this site? At 1.75 acres, Id imagine Tempe could find a developer to put a mid to highrise office or apartments on this site. Anything less wouldn't work due to density. That would offer great lake views :tup:

Lets hope this guy is removed this year. Cycle is slowly losing steam to see anything get built here.

[vandypandybear]

Looks like the demo permit has been issued for Park Place. They started on the demo of Delish this morning. Also, the Gilbane development across the street has finally gone above grade on the hard corner.

[Mr.RE]

Great News^

Also, Camden is submitting a proposal for a new phase of mixed use development at Curry/College in north tempe where the current Progressive office building is. Will have submittal package by 02/12.

[Obadno]

Great News^

Also, Camden is submitting a proposal for a new phase of mixed use development at Curry/College in north tempe where the current Progressive office building is. Will have submittal package by 02/12.

right next to their current complex. Interesting. Also Progressive just announced its hiring 500 people so they must be vacating that spot for a larger location.

[azsunsurfer]

right next to their current complex. Interesting. Also Progressive just announced its hiring 500 people so they must be vacating that spot for a larger location.

There is nothing "mixed-use" about the Camden's first phase, so what will be mixed-use about the 2nd?? It should just be more garden apartments....

[azsunsurfer]

If I remember correctly, the 2nd phase of the Camden development was to take the shopping center with the Goodwill to the north, I wonder what happened there. I think Progressive is moving to either North Scottsdale or Chandler.

[Obadno]

There is nothing "mixed-use" about the Camden's first phase, so what will be mixed-use about the 2nd?? It should just be more garden apartments....

The progressive building actually has a massive parking lot hidden from view behind it, They could make the intersection of Curry & 68th retail oriented and have more than enough room to double their apartments.

I dont think they'll be buying/tearing down the healthy retail to the north.

Still I've only seen a few Camden projects and mixed use doesn't seem to be what they do.

[Mr.RE]

For those getting hung up on the mixed use portion of my statement, refer to the document below for where I got my information.


https://www.tempe.gov/Home/ShowDocument?id=71180

"Request a General Plan Land Use Map Amendment from Commercial to Mixed-Use and a General Plan Density Map Amendment from Medium to High Density (up to 25 du/ac) to High Density (up to 65 du/ac); a Zoning Map Amendment from GID (GIOD) to MU-4; a Planned Area Development Overlay (PAD); and a Development Plan Review for a new four-story mixed-use development consisting of 395 dwelling units and 2 live-work units for CAMDEN HAYDEN II, located at 600 East Curry Road. The applicant is Huellmantel & Affiliates. (PL180288)"

[CrestedSaguaro]

The progressive building actually has a massive parking lot hidden from view behind it, They could make the intersection of Curry & 68th retail oriented and have more than enough room to double their apartments.

I dont think they'll be buying/tearing down the healthy retail to the north.

Still I've only seen a few Camden projects and mixed use doesn't seem to be what they do.

That plaza really doesn't do great outside of Goodwill and Mijana. Plus, Goodwill did just open a new location 2 miles to the North on Scottsdale Rd. Generally, when they build a new location that close, they intend to close down the old one. They could have done that for a something happening to that shopping plaza in the future. Hard to say though without any information.

[azsunsurfer]

This was back during the recession when that plaza was really struggling they had an option to buy it I think for a second phase but must have passed on it.

Oh and 2 live work units that will make it "mixed use" lol.

[CB1]

Check out this article from azcentral:

Floating entertainment to outdoor gyms. Here's what could come to Tempe Beach Park

https://www.azcentral.com/story/news/local/tempe/2019/02/02/tempe-town-lake-new-attractions-tempe-beach-park-rio-salado-park/2671529002/

[Mr.RE]

https://www.bizjournals.com/phoenix/news/2019/02/07/watermark-tempe-signs-high-profile-company-as.html?ana=e_phx_bn_exclusive&mkt_tok=eyJpIjoiTTJNelpqVTRaamRpTVRGaCIsInQiOiJ5NDBpQ0lMOVU2U3JhZzZ6VjIrajBTajJtd0ZnemVYRUVJbUtLTzhVVjk0MklJMm9MQnJ5bkFmRTVcL1g1V1BqUWprNmgzZVNqMkFzbE15VldFMGdCZnE2ZTJcL3RLYXBmaWQwMGYwT1JobitaeGw3VFl2SWQ2c0VkaWgzVDZuemlxIn0%3D

The Watermark Tempe, a 16-story Class A mixed use development on the north shore of Tempe Town Lake, has signed its first office tenant.

WeWork, the nationwide coworking giant, has leased floors 10 and 11 of the speculative development. The Watermark is scheduled to complete construction in September, and WeWork plans to open at the development during the fourth quarter.

“WeWork is the premier global operator in the co-working space,” Fenix Development President David Norouzi, the developer of the Watermark, told Phoenix Business Journal. “WeWork will undoubtedly be a valuable asset to future tenants of Watermark, as they provide our other tenants the ability to grow and expand as their workforce needs shift.”

WeWork plans to have about 1,000 desks at the north Tempe development.

“Tempe is quickly becoming a home for some of the most innovative companies and brands in the world,” Nathan Lenahan, WeWork general manager of the Mountain West and Texas said in an emailed comment. “We see startups and global companies coming to the area, and we are excited to create this space where small companies and big firms can interact with each other, connect with local community, grow their business and attract top talent. We are committed to this city, and we're just getting started."

Tempe Mayor Mark Mitchell said WeWork’s presence will help foster the city’s entrepreneurial and startup scene.

“WeWork will give Tempe entrepreneurs the resources they need to succeed,” Mitchell said. “Fenix Development is building a truly innovative business development with Watermark. The amenities cater to the specific needs of top technology and advanced business services companies. Having WeWork as its first commercial tenant shows their commitment to helping tenants thrive.”

It hasn't taken WeWork long to make a statement in the market. Just last month, WeWork announced its first Valley location, which will include four floors in Tower I of the Camelback Esplanade, totaling about 900 desks.

As of December 2018, WeWork had 400,000 members and operates in 400 locations in 26 countries, according to a company representative. WeWork is the largest private occupier of office space in Manhattan, London and Washington D.C., company data shows.

In October, the Watermark announced its first retail and dining tenants to sign leases at the development.

Obon Sushi + Bar + Ramen, V’s Barbershop and Dip Nail Bar will occupy space on the ground level. Obon will have the first lakefront dining patio along Tempe Town Lake.

[muertecaza]

https://www.bizjournals.com/phoenix/news/2019/02/07/watermark-tempe-signs-high-profile-company-as.html?ana=e_phx_bn_exclusive&mkt_tok=eyJpIjoiTTJNelpqVTRaamRpTVRGaCIsInQiOiJ5NDBpQ0lMOVU2U3JhZzZ6VjIrajBTajJtd0ZnemVYRUVJbUtLTzhVVjk0MklJMm9MQnJ5bkFmRTVcL1g1V1BqUWprNmgzZVNqMkFzbE15VldFMGdCZnE2ZTJcL3RLYXBmaWQwMGYwT1JobitaeGw3VFl2SWQ2c0VkaWgzVDZuemlxIn0%3D

The Watermark Tempe, a 16-story Class A mixed use development on the north shore of Tempe Town Lake, has signed its first office tenant.

WeWork, the nationwide coworking giant, has leased floors 10 and 11 of the speculative development. The Watermark is scheduled to complete construction in September, and WeWork plans to open at the development during the fourth quarter.

Good to hear. Co-working space seems like an ideal use of that building. Here's hoping for more leases before it tops out.

[TAZ4ate0]

All the demo work at Park Place is complete and nearly all the debris cleared away. Looking for construction to begin very soon.

[Mr.RE]

All the demo work at Park Place is complete and nearly all the debris cleared away. Looking for construction to begin very soon.

Great news, its about time. I was planning on stopping by here later today. Will grab some pictures if I am able for those interested.

[Mr.RE]

Good to hear. Co-working space seems like an ideal use of that building. Here's hoping for more leases before it tops out.

I agree. They mention potential collaboration with Asu, Entrepreneurs and students alike, I think that is a great strategy to build some good rapport with the surrounding community. Especially when they go to pull permits for Tower 2, I am sure having a good reputation with the city and tenants will serve them well. Excited to see this development get built out.

[asugrad]

http://tempegov.maps.arcgis.com/apps/Shortlist/index.html?appid=e2b8a9338e3948c0ab6abf93b858f508

According to the page, The Pier is finally has a building permit and considered "construction underway"

[Obadno]

http://tempegov.maps.arcgis.com/apps/Shortlist/index.html?appid=e2b8a9338e3948c0ab6abf93b858f508

According to the page, The Pier is finally has a building permit and considered "construction underway"

How do these people still have money hasn't this been int he works for like 6 years?