Tempe Development Thread

[TAZ4ate0]

Originally Posted by Tempe_Duck

What building are they going into? It's not the big red barn, can't remember what that was before?

The big red barn at University and McClintock was Minder-Binders. It was a cool place to hangout.

[Tempe_Duck]

Originally Posted by TAZ4ate0

The big red barn at University and McClintock was Minder-Binders. It was a cool place to hangout.

YES, thats it. I remember hearing some place that it is so far out of code now, that it would be cheaper to raze it and build something new rather than repair it? Do you know if this is true?

[TAZ4ate0]

Originally Posted by Tempe_Duck

YES, thats it. I remember hearing some place that it is so far out of code now, that it would be cheaper to raze it and build something new rather than repair it? Do you know if this is true?

Can't say for sure. It wouldn't surprise me though if that old place is way out of code.

[SunDevil]

There is a strip mall at the SE corner of McClintock and University. I used to buy my liquor there at AAA, the guys who worked there would smoke me up once in a while.

Wouldn't surprise me if they moved in there somewhere, there also is an empty lot immediately to the W of the McDonalds there.

[bwonger06]

Can we say finally?


Centerpoint developer seeking Chapter 7

Phoenix Business Journal - by Jan Buchholz

Print Email Reprints RSS Feeds Add to Del.icio.us Digg This Comments (1)


The motion to convert from a Chapter 11 reorganization to Chapter 7 liquidation was filed Sept. 15.

" The impact of the Motion is that the bankruptcy will be put into the control of a trustee, who will decide how to proceed," said a statement from Tempe Land. "The adverse financial markets, ongoing conflicts, and continuing costs contributed to the decision."

The high profile project has been at a standstill since summer 2008 when developers were unable to obtain the estimated $75 million in additional funding needed to complete the $200 million residential and retail project.

The situation became even more dire when the project’s primary lender, Mortgages Ltd., filed for Chapter 11 in mid-summer after the suicide of its founder and sole shareholder Scott Coles. Mortgages Ltd. since emerged from bankruptcy and is under new leadership headed by former state land Commissioner Mark Winkleman. When he spoke recently with the Phoenix Business Journal, Winkleman said the firm would work out new agreements with its borrowers or, if necessary, file foreclosure proceedings on properties secured by the promissory notes the borrowers signed.

Late Wednesday Winkleman said the filing was not a surprise. Tempe Land Co. was supposed to file a reorganization plan by Tuesday, prospect Winkleman said is unlikely. "It certainly wasn't obvious to us what kind of reorganization plan they could have."

The unpaid principal on the Mortgages Ltd. loan, he said, is $135 million. "There's no way that property is worth anywhere close to $135 million." Winkleman said the property presumably will now be sold and Mortgages Ltd. will assert its lien rights.

Court documents filed by Engelman Berger P.C. to convert the case to Chapter 7 said: “Despite diligent efforts by the debtor, a consensual reorganization has proved unattainable.”

Tempe Land's statement went on to say: "Tempe Land Co. is confident that with this action, resolution of the property’s ownership can occur quickly so that construction can be recommenced and finished on the stalled Centerpoint project."

[combusean]

A photo tour of the Centerpoint towers:

http://www.flickr.com/photos/ryno/sets/72157604008534166/

[mwadswor]

I was at ASU today and noticed that they finally put up some meters for those parallel parking spaces along Apache. Does anyone know the story on those? Have they been in for a while and I'm just dense? There are hours on them, but I saw a cop drive by and ignore that fact that every one of the meters was timed out, so I'm assuming they're not enforcing those yet? Any idea when they're going to start?

As a motorcycle rider who always gets a free space right next to campus I vote boo, but as a general citizen it's probably a good thing.

Speaking of motorcycles in those spaces. Is it common in other cities for motorcycles to double park with cars in parallel parking spots like they do in those along Apache? Is that actually legal, or do the cops just ignore it? If they do that in other cities (or even if they don't, if you know), what happens once the meters go in? Does the double parking have to stop or do the motorcycles just get a free spot as long as the car driver paid the meter already?

[TAZ4ate0]

Originally Posted by mwadswor

I was at ASU today and noticed that they finally put up some meters for those parallel parking spaces along Apache. Does anyone know the story on those? Have they been in for a while and I'm just dense? There are hours on them, but I saw a cop drive by and ignore that fact that every one of the meters was timed out, so I'm assuming they're not enforcing those yet? Any idea when they're going to start?

As a motorcycle rider who always gets a free space right next to campus I vote boo, but as a general citizen it's probably a good thing.

Speaking of motorcycles in those spaces. Is it common in other cities for motorcycles to double park with cars in parallel parking spots like they do in those along Apache? Is that actually legal, or do the cops just ignore it? If they do that in other cities (or even if they don't, if you know), what happens once the meters go in? Does the double parking have to stop or do the motorcycles just get a free spot as long as the car driver paid the meter already?

I don't know the story behind the meters or when enforcement is to take effect. What I can say is that they have only been installed for about 3 weeks. I live just off Apache, and pass by them every day. I was quite surprised that the city installed meters along there. I guess it is a sign of the times, and it's an attempt to collect more revenue.

[Vicelord John]

I don't know if I forgot to press submit on my last post or if it got deleted.

I park my bike on sidewalks in tempe and downtown and have never had an issue. I also share parking spots with strangers cars. Just one of the perks of having a bike. Enjoy it.

[nickkoto]

Originally Posted by mwadswor

I was at ASU today and noticed that they finally put up some meters for those parallel parking spaces along Apache. Does anyone know the story on those? Have they been in for a while and I'm just dense? There are hours on them, but I saw a cop drive by and ignore that fact that every one of the meters was timed out, so I'm assuming they're not enforcing those yet? Any idea when they're going to start?

The city has full-time parking enforcement personnel. You probably won't ever see a cop get out of a squad car to write parking tickets in Tempe.

[SethAZ]

Not surprised to read this...
http://phoenix.bizjournals.com/phoenix/stories/2009/09/28/story2.html

At least Dave's Dog House didn't get razed.

That area from Mill to College and University to 5th/Veterans Way could be such a cool little pocket of dense, urban living. Tempe will continue to screw up that area though by tearing it all down and building nothing.

I remember being angry at the owner of Dave's when he put up a fight and wouldn't leave (when I had visions of high rises being built there.) Now I just want to go thank him for standing his ground.

[nickkoto]

^
I can't say that I'm upset about a convention center not being there. There's already quite a few places of various size on campus if some school-related functions were in need of a venue, whether it's related to recruitment or maybe research being done on campus, and no matter what building they put there, I don't think the present site of Dave's Doghouse could realistically ever be in the mix when it comes time for the plumber's union to decide where they're next convention will be held.

[Tempe_Duck]

Originally Posted by nickkoto

^
I can't say that I'm upset about a convention center not being there. There's already quite a few places of various size on campus if some school-related functions were in need of a venue, whether it's related to recruitment or maybe research being done on campus, and no matter what building they put there, I don't think the present site of Dave's Doghouse could realistically ever be in the mix when it comes time for the plumber's union to decide where they're next convention will be held.

I am actually upset at the owner of Dave's Dog house. Not to mention they are over priced, and not that good hot dogs. I would much rather go to Ted's. But his refusal to come to an agreement almost single handily killed that entire block. If he agreed like everybody else, construction would be done by now with tenants moving in long ago. He came across as a money hungry SOB. I can't find it in my self to side with him.

[Vicelord John]

Casey moores sucks

[SethAZ]

originally posted by Tempe_Duck
I am actually upset at the owner of Dave's Dog house. Not to mention they are over priced, and not that good hot dogs. I would much rather go to Ted's. But his refusal to come to an agreement almost single handily killed that entire block. If he agreed like everybody else, construction would be done by now with tenants moving in long ago. He came across as a money hungry SOB. I can't find it in my self to side with him.

I used to think the same thing, now I don't. Had he agreed to being bullied by the city, they would have torn down the entire block, and the project would never have gone forward anyways. Then we'd just have a big empty dirt lot.
That Dave's has high prices isn't the point. (although I do agree.) It's about having value and reasons to be in town. All that vacant, unused land is depressing.

[mwadswor]

Originally Posted by SethAZ

I used to think the same thing, now I don't. Had he agreed to being bullied by the city, they would have torn down the entire block, and the project would never have gone forward anyways. Then we'd just have a big empty dirt lot.
That Dave's has high prices isn't the point. (although I do agree.) It's about having value and reasons to be in town. All that vacant, unused land is depressing.

I think the point is that that land wouldn't be vacant now if Dave's had left. He sat there for years holding up a project that would have been a major benefit to the city. If he had left with everyone else that project could have been built before the economy crashed.

[Tempe_Duck]

Originally Posted by mwadswor

I think the point is that that land wouldn't be vacant now if Dave's had left. He sat there for years holding up a project that would have been a major benefit to the city. If he had left with everyone else that project could have been built before the economy crashed.

Yes, that is exactly where I am coming from.

On a side note, does anyone know the status of the hotel that was scheduled to go across from the Transit Station? They built the parking garage but nothing since then.

[HX_Guy]

Tempe’s University Square project, others in jeopardy
Phoenix Business Journal - by Jan Buchholz

An ambitious plan to build a $200 million, 1 million-square-foot mixed-use convention center and hotel in Tempe looks to be dead, and several other projects there are struggling to get off the ground or be completed or leased.

The property where the University Square project was to be built a few steps away from City Hall is facing foreclosure auction.

Lender Stearns Bank filed the notice of trustee sale with the Maricopa County Recorder’s Office last month on several parcels north of University Drive between Forest and Myrtle avenues, adjacent to Arizona State University.

The borrower, University Square Investors LLC, is headed by veteran Valley developer Jim Riggs, president of [CompanyWatch allows you to receive email alerts with stories related to your companies of interest. <p>You can watch up to ten companies at a time.</p>] Saxa Inc.

.

[TAZ4ate0]

Originally Posted by Tempe_Duck

On a side note, does anyone know the status of the hotel that was scheduled to go across from the Transit Station? They built the parking garage but nothing since then.

Last I heard is that it is on hold until financing can be secured.

[AJphx]

Originally Posted by Tempe_Duck

What building are they going into? It's not the big red barn, can't remember what that was before?

they (sleepy dog brewery) are on university a little ways east of mcclintock, its in one of those light-industry/office style strips along the street.