Tempe Development Thread

[mwadswor]

Originally Posted by AJphx

I meant specifically if they built a new stadium on the lake as was mentioned in the article. That would leave the current stadium on the butte, so I was just wondering what the planners are thinking. It is such a landmark and great setting I can't believe they would demolish it or seriously consider that. So would they leave it idle or use as a practice field or modified for some other sport? That was basically the gist of what I was thinking.

As I recall, most of the reason there's all the talk about building a new stadium is because the current SDS is going to become structurally unsound and need to be demolished in the forseeable future. I can't remember the details, but I remember seeing some articles and hearing some talk along those lines. If that's the case, they'll demo the current SDS, not repurpose it. Even if that's not the case, I can't imagine them repurposing the stadium. No other sport would even fill it to half-capacity on a regular basis, what sport could realistically be put in there other than football?

Originally Posted by exit2lef

Of course, it didn't have to be this way. If Scottsdale actually wanted light rail within its borders, there would probably be enough critical mass to support a full-fledged north-south light rail line from the Scottsdale Airpark to Chandler. With Scottsdale unwilling to play, though, Tempe had to go with an option that it alone could support, and the numbers pointed to modern streetcar and BRT over light rail.

That would be ideal. Maybe not all the way up to the airpark, but at least the Scottsdale Fashion center, running through old-town Scottsdale, by Skysong, by ASU, by the ASU library, and down to Chandler Fashion Center would be a pretty epic light rail line. The south end of the line is decently suburban, but that just means the ROW will be cheap and the development potential is high

[HooverDam]

Originally Posted by Leo the Dog

I don't know, thats a huge area to cover for LRT that covers some areas that are very suburban if not rural. (ie, south rural rd around Warner Rd).

I fully support LRT, but that would be billions of dollars to basically cover 2 arterial thoroughfares of Chandler Blvd and Rural Rd. Probably better to expand off the starter line in the core, IMO, of course.

This is coming from an ex East-Valley-ite with Tempe, Chandler, Scottsdale roots.

Id say the most rural areas in the alignment I mentioned are actually out by ASU Poly & Phx Mesa Gateway, a lot of that land is yet to be urbanized.

There are a lot of undeveloped parcels along both the North-South and East-West lines I mentioned, but think of those less as minuses and more as pluses. They're not un-dense lots forever, if the Cities decide thats a future LRT alignment, they can start zoning for TOD now and create mid density areas that will actually heavily use the LRT.

[plinko]

Originally Posted by HooverDam

Indeed, a LRT line from the Airpark all the way South to Chandler Blvd then East past Chandler Fashion and to Arizona Ave (Downtown Chandler) would've been terrific. Then it could've eventually continued East to ASU Poly & Phx Mesa Gateway and on the North end gone up to Mayo to connect to the Cine Capri, Mayo Clinic, MIM, Desert Ridge & CityNorth.

Totally agree except that I would turn east at Elliott Road to Price and then run south to Chandler Blvd. That way you pick up the ASU Research Park, which is already a large employment center in South Tempe and is easily adaptable for TOD projects. The further east extension to ASU Poly would also hit the Santan Village area.

The lots around Warner and Rural are quite large and some of the few remaining horse lots in Tempe. It has a much different feel than most of the rest of the city. I'm not saying that it shouldn't eventually be redeveloped, but I see alot less problems with simply picking up ASU Research than running through an area that is, to some extent, still a little rural.

I'd love to see a multi-modal connection to such a line at Higley/Williams Field on a commuter rail line that would run to DT Mesa/DT Tempe/DT Phoenix but that's thinking WAY outside the box.

[HooverDam]

^Good call on the ASU Research park, I didn't think of that.

I don't think the idea of a multi modal station at Williams Field/Higley is all that far outside the box. We know MAG already wants Commuter Rail there and the Chandler Blvd/Williams Field alignment seems like such an obvious one for LRT, maybe it'll happen in...50 years.

If Phx-Mesa Gateway Airport does continue to grow and become our version of LA's Bob Hope (Burbank) Airport it'll definitely need a LRT connection...and connection to commuter rail as well. Though since the Commuter rail line doesn't run directly to the Airport people would likely have to take LRT to the Multi Modal hub you mentioned.

[AJphx]

Originally Posted by mwadswor

As I recall, most of the reason there's all the talk about building a new stadium is because the current SDS is going to become structurally unsound and need to be demolished in the forseeable future.

ok thanks, that explains it.


here is a photo update on a couple things:

Originally Posted by ciweiss

New development on Apache being built. Apache Trails ASL Project.

http://wsmarch.com/project.php?MA=7&PROJ=41

This 75-unit tax-credit project creates a campus for Arizona Deaf Seniors who use American Sign Language (ASL) as their primary form of communication. Due to a tight budget, this project is designed primarily of wood frame construction with stucco.

sorry a little blurry, taken from the apache and 101 lightrail station.

[AJphx]

and here is the ASU science building - ITSB IV
(sorry for poor quality/lighting lol)
- front corner at intersection, law on right, biosciences on left, lds behind me.


- a back side from the entrace street off rural. biosciences on right, garage on left

[Jsmscaleros]

For anyone that lives in/around or hangs out in the Maple/Ash and Mitchell Park neighborhoods in Tempe, we're launching a new community website (more of a forum, really) to keep people in the loop on events, news, and whatnot.

It's relatively blank now as it literally just went up (and y'all are the first to actually know about it) - but we'll be adding lots of content in the coming weeks as we start to spread the word around the neighborhood.

Check it out and keep it bookmarked if you like to hang out 'round the hood:

http://www.sofa-connect.org

[Tempe_Duck]

Originally Posted by Jsmscaleros

For anyone that lives in/around or hangs out in the Maple/Ash and Mitchell Park neighborhoods in Tempe, we're launching a new community website (more of a forum, really) to keep people in the loop on events, news, and whatnot.

It's relatively blank now as it literally just went up (and y'all are the first to actually know about it) - but we'll be adding lots of content in the coming weeks as we start to spread the word around the neighborhood.

Check it out and keep it bookmarked if you like to hang out 'round the hood:

http://www.sofa-connect.org

Nice, I am in the Clark Park neighborhood but it all feels like the same area. I will keep up with it.

Thanks

[phoenixheadphones]

That's awesome! I live at 5th street and Hardy, which I guess is the Riverside neighborhood or something, but thats a cool site to know about. Thanks!

[ciweiss]

I drove by Hayden Ferry lakeside and noticed a Microsoft sign added to the building by the Mill ave bridge. Anyone know the story behind that. I know Paul Allen's realestate co. bought the Gateway building.

[Jsmscaleros]

Originally Posted by phoenixheadphones

That's awesome! I live at 5th street and Hardy, which I guess is the Riverside neighborhood or something, but thats a cool site to know about. Thanks!

Yeah, it's a little broadly-inclusive at the moment because it's mostly still just me and a buddy digging up stuff we find interesting around the area. Getting all the neighbors to know about it and contribute will be a little more of an on-going process. We added a few things y'all might be interested in, though, regarding the 2011 Tempe Music Festival (or lack thereof), the Mill Streetcar, and all the new public art in our neighborhoods: http://www.sofa-connect.org

[ciweiss]

This would be kinda cool if they build it. Above Tempe town lake and Rural.

http://www.tempe.gov/planning/Agendas/DRC/SupportingDocuments/DRCr_HaydenHarbor_012511.pdf

[PHXguyinOKC]

wow, would be nice to see something like that happen

[plinko]

Wasn't there a huge project previously planned for the Club RIO site? I've lost track.

[Leo the Dog]

Tempe better be careful. The area around the town lake is basically Tempe's final frontier. They need to approve only top notch proposals that will last 50-100 years before redevelopment. My concern is that there really is no connectivity to anything along Tempe Town Lake. It might turn into one large development after another all auto dependent.

[combusean]

Originally Posted by plinko

Wasn't there a huge project previously planned for the Club RIO site? I've lost track.

This is at least the 2nd megaproject proposed for that site. From what I recall about the first, the second does not appear that markedly different.

[ciweiss]

Originally Posted by Leo the Dog

Tempe better be careful. The area around the town lake is basically Tempe's final frontier. They need to approve only top notch proposals that will last 50-100 years before redevelopment. My concern is that there really is no connectivity to anything along Tempe Town Lake. It might turn into one large development after another all auto dependent.

Leo - that is a great point. I think Tempe/Developers really need to think about this last open land so that it is a place people really want to be. I was biking around the lake the other day and was thinking how great it would be to have a place to drink a beer and watch the boats/people going by. Perhaps something like San Diego's Seaport Village. I know - vastly different place. Anyways, with the 25% vacancy rates on commercial real estate I don't think we will see anything going up anytime soon. But if it takes 1 year to design/develop and 2 years to build the market may be ready in 3 years? Hopefully. My bet is more like 3-5.

[dtnphx]

ZAREMBA BACK ON TRACK TO BUY CENTERPOINT CONDO PROJECT IN $30 MILLION DEAL

Tempe - The $30 million sale of the Centerpoint Condominiums in Tempe is back on track after a false start last year. Sources say a venture formed by Zaremba Group in Cleveland, Ohio (Walter Zaremba, principal) was working to close the purchase as BREW was going to press. Although neither buyer nor seller could be reached for comment, multiple sources say the deal could be closed by February 18. The unfinished project is located in downtown Tempe just west of Mill Avenue and east of Ash Avenue between 5th Street on the north and Seventh Street on the south. The two-building complex, which is comprised of partially developed towers of 22 and 30 stories, is owned by a group of investors headed by ML Manager in Peoria. ML Manager, as successor to the defunct Mortgages. Ltd., foreclosed on the previous developer of Centerpoint Condominiums after the company defaulted on $135 million in loans. The sale to Zaremba Group stalled last October after issues surfaced involving liens placed against the property by multiple contractors that worked on the project and title insurance needed to complete the transaction. With those issues reportedly close to being resolved, the Zaremba Group venture will take control of Centerpoint Condominiums. The seller in the cash transaction is being represented by Tyler Anderson and Sean Cunningham of CB Richard Ellis in Phoenix. Steve Gebing and Cliff David of Marcus & Millichap Real Estate Investment Services in Phoenix are working on behalf of the buyer. Zaremba Group is believed to be partnering with California State Teachers' Retirement System (CALSTRS) to buy Centerpoint Condominiums. After confirming that it was buying the project in September, representatives of Zaremba Group said the company planned to complete the buildings and rent the units as high-end apartments. Most of the renters were expected to be students from the nearby Arizona State University. In all, there are 375 units targeted for the two towers. The smaller building is 90 percent complete and is expected to be ready for occupancy in September. The larger structure is about 70 percent finished, and will likely be completed in early 2012. There is also undeveloped land targeted for another two high rise towers that is part of the acquisition. In October 2003, BREW reported a company formed by David Dewar and Ken Losch of Trillium Residential in Tempe working to buy the 5.35-acre Centerpoint Condominium site. The Zaremba Group and CALSTRS previously have teamed up to develop and acquire residential and retail properties throughout the country. Zaremba Group/CALSTRS have joined forces to develop other multi-family properties in the Valley. Zaremba Group and CALSTRS are looking for additional multi-family development and investment opportunities in the Phoenix area and other parts of the country. BREW previously reported Zaremba developing The Waterford at Peoria, a 200-unit apartment project at the northeast corner of 83rd Avenue and Thunderbird Road in Peoria, The Waterford at Superstition Springs, a 280-unit apartment complex located near the southeast corner of Power Road and Southern Avenue in Mesa and Barolo Place, a 65-unit for sale condominium project at the northeast corner of Shea Boulevard and 74th Street in Scottsdale. Kent Chantung of Zaremba Group in Scottsdale is the contact on the Centerpoint Condominium project . . . (480) 367-8500. Mark Winkleman is the contact at ML Manager . . . (623) 234-9560. Call the CBRE agents at (602) 735-5555. The M&M agents are at (602) 952-9669.


They must have worked out a deal where they don't have all those mechanics liens to deal with. Good news.

[Jsmscaleros]

What's the source of this article?

[Vicelord John]

New Times vvvvv


Centerpoint Towers Finally Sold to Zaremba Group; Construction to Finish Project Begins "Immediately"
By Ray Stern, Fri., Feb. 18 2011 @ 5:54PM Categories: News


The Centerpoint Towers in Tempe have finally sold. The buyer, Zaremba Group of Ohio, hopes to have renters living there by August.
​

Welcome to "West Sixth."



The Centerpoint Towers in Tempe have been sold, and construction on the unfinished project will resume "immediately" in order to have occupants living there by August.



Zaremba Group, which came close to buying the towers and five-acre property, closed the $30 million deal today, confirms Mark Winkleman of ML Manager, the successor company to Mortages Limited.



ML Manager settled with the subcontractors who said they were owed $21 million for their work, and the company will attempt to recoup the loss from its insurance company, Winkleman says. He declined to give the settlement amount.



The planned, high-rise apartment complext will be called "West Sixth," a reference to its location at Sixth Street and Maple.



Here's the press release from Zaremba's PR firm:


TEMPE, Ariz. (February 18, 2011) - Zaremba Group announces today that the sale of the Centerpoint development is final and construction will resume immediately on the luxury, urban housing project slated for move-in by late summer. New management brings with it a fresh name for the residential property - West Sixth, a nod to the central address the towers occupy in downtown Tempe.

Located at 111 West 6th Street, the apartments bring an obtainable, sophisticated lifestyle to the Tempe rental market. Phase I of the new West Sixth complex, a 22-story residential tower, will be ready for occupants by August 1, 2011 and will incorporate mixed-use retail and restaurant space on the ground floor. Phase II, a 30-story residential tower, will be completed by December of this year giving the community a total of 375 apartment homes.


West Sixth will augment the Live/Work/Play lifestyle of the predominant student atmosphere in downtown Tempe. The innovative apartment community will include several comforts consistent with fine living including a 9,000 square feet fitness facility complete with a yoga studio, tanning beds and lounge. The resort-style pool area boasts cabanas, fire pits and a barbeque area. Rental pricing is not yet available, but is expected to be commensurate with other area communities.


"West Sixth offers unmatched amenities and will be the pinnacle for urban lifestyle. We are pleased to now move forward mindful that sales of this magnitude and complexity take time to complete," says Kent Chantung, director of residential development for Zaremba Group on the interval from the previous expected closing date in October, 2010. "The added time in the process allowed us to solve lingering issues. With the obstacles resolved, we are now able to deliver a remarkable living environment to Tempe."


Zaremba Group is a national real estate organization based out of Cleveland, Ohio and currently manages three properties in the Phoenix area. Because of their specific expertise in stabilizing distressed housing developments, they have been instrumental in navigating the intricacies of the sale of the Centerpoint project. They will continue to oversee the development of West Sixth to fruition.


"We are cognizant of the past of this project, but are extremely excited to be an integral part of the present and future of Tempe," adds Chantung. "West Sixth represents a significant contribution to growth and construction for the Valley and will expand Tempe's standing as a significant metropolitan destination."



Winkleman says he's elated to see the sale go through, adding that it was the "longest, most complex, contentious" real-estate deal he's ever worked on.

A New Times feature article about the towers in October of 2009 describes how the Centerpoint project went from Mortgages Limited's largest single project to an unoccupied, unfinished eyesore in the aftermath of the lending company's collapse.

Only the smaller tower will be completed initially, and we imagine even that won't fill up that quickly without major rent discounts. Still, the sale is great news for downtown Tempe, which has been plagued by too many empty storefronts as the recession wears on.

Best of all, no double-implosion.