Quote:
Originally Posted by gymratmanaz
Once the height issue is addressed, what kind of time frame might we be on for this project?
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Pure speculation on my part (although I have experience in this type of development), I would guess they probably don't break ground until Q1 2021 at the earliest, maybe Q2 2021. I would be absolutely shocked if they broke ground this year, although they could prove me wrong.
They are still wrapping up final items for Prelim Site Plan Approval, which probably will not be done for another month or so. Assuming they are still moving forward with their Design Development and progressing their plans, after site plan approval 4-6 months is about normal timeline to get Construction Documents approved and permits issued (including City review time). This project is much larger and more complicated than usual, so you may want to add a couple months grace period, hence Q1 2021.
Also, that would put groundbreaking a couple months away from when Aspire is wrapping up. Developers don't like to have two buildings opening too close to one another (18-24 month gap preferred) to ensure time to lease the prior building up before they bring a new one to market. See Link Phase 1/II, X Phoenix/X PHX BC, Stewart/Aspire all as examples.