Phoenix Development News (3)

[Jjs5056]

If anyone has the time and money, you can put in a records request for the site plan and renderings. They won't allow you to view it digitally so you have to pay for a CD to be shipped to you. Very user-friendly system.

The developer was quoted as saying that the city had actually preferred they NOT to some kind of facadectomy, so it's interesting that they are preserving pieces.

According to a few articles and their own leasing doc, the entire arcade has been leased - do we know to whom? Perhaps they'll want to use the materials inside for a more authentic feel?

[westbev93]

Back in the late 80s to early 90s, they were tearing down a lot of buildings where the biotech campus is now located. Anyway, I knew a guy who purchased the facades of some buildings in exchange for some tax credit. He is still sitting on them all in storage. Perhaps some 3rd party has done something similar with Luhrs?

[nickw252]

I drove by yesterday and there was work going on but I couldn't see much - it was all inside.

Unfortunately I couldn't get much of a picture.

I also noticed that construction/grading work has started at 12th St. and Jefferson - is that "The Blue" apartment building?

[HooverDam]

anyone know what's being built on 3rd St up bu China Chili? I quickly went by it on by bike last night so I did't take note of the minor cross street It looks like stick frame construction, maybe 2 stories, but it's built right up to the street and filling in a dirt lot, so thats nice.

[Jjs5056]

Originally Posted by nickw252

I drove by yesterday and there was work going on but I couldn't see much - it was all inside.

Unfortunately I couldn't get much of a picture.

I also noticed that construction/grading work has started at 12th St. and Jefferson - is that "The Blue" apartment building?

Hoover- any way to be more specific? If in Evans Churchill, there are several parking lots going up, so it could be the pay station.

The Blue/Capital Place on 11th and 12th Streets
The Blue on 12th and 11th are now 11 and 12 Capital Place; from 12 story mixed use to 4 stories. Pretty disappointing downgrade for the immediate outskirts of downtown.

The Muse
Also, Nick or anyone- were you actually at the design review meeting for the Muse project? I'm curious what the reception was and what next steps are. I truly hope it hasn't been approved with a giant parking lot fronting Central. That's the complete opposite of what TOD is intended to do, and it's even more shocking given that its adjacent to a station. It's funny how Lennar just received approval on a project that's higher, denser, and more urbanly-designed than this for the Apache Corridor. Phoenix is really falling behind as more and more Tempe projects break ground, and we're still awaiting the start of some seriously delayed projects.

Ballpark Apartments
Quick update that Phase I of the Ballpark Apartments is scheduled for January/Q1 groundbreaking. This goes from the tracks to Buchanan, incorporates El Fresno Grocery and Gerardo's as a fitness center and leasing office, respectively. 4 stories of apartments in the area = great. Using two of the best historic structures left in the warehouse district for non-public use = kind of lame. I also think the buildings being wrecked have a ton of potential, but that probably sounds nuts. Being that it's essentially a done deal, I wish there was someway the Phoenix Job Corps could either renovate or consolidate their presence in the district. They have buildings throughout, and it really breaks up any synergy that could possibly form. A development with retail along Buchanan from 3rd-2nd connecting Ballpark and Stadium Lofts would be great; as of now, there's really nowhere for any kind of retail needs, even fast food, until you hit the Duce to the south or Cooperstown to the north.

[CrestedSaguaro]

I've posted a rendering of a 33 story tower supposedly planned Luhrs City Center after Marriott and another 26 story tower are completed, in the Luhrs City Center thread. I've not heard of anything outside of the Marriott planned. Can anyone confirm this??

[N830MH]

http://www.azcentral.com/story/news/loca...phoenix-sky-harbor-renovations/16793599/

Sky Harbor construction is delay for within 2 weeks. They have to do review the terminal 3 project. They were suppose to start construction after Super Bowl 2015.

[Jjs5056]

Maricopa Corporate College is looking for physical space to locate their campus, which has largely been running out of GCC. They have $25 in funding already, and are open to new builds/land purchase or renovating existing structures to meet their needs.

http://azbex.com/mcccd-sets-aside-25m-for-corporate-college-project/

Would be great to see the former Pappas School land on VB/4th Avenue used for the project, anchored by a tower and several midrises including family-friendly student housing.

Might be a catalyst for either/both of Rio Salado and Phoenix College to expand their presence downtown at the same time, since the main focus seems to be on continuing education and the like. That focus makes me think a central Phoenix location is ideal, and that if downtown can't be sold as the business hub of the Valley, it's in deep trouble.

Educational options are crucial to the success of any major city, and while high-rise development might be far-fetched, they can't possibly build any less dense than ASU already has, and even buildings of ~6 stories along 4th would be a stimulus for revitalization, IMO.

[phoenixwillrise]

Originally Posted by Jjs5056

Maricopa Corporate College is looking for physical space to locate their campus, which has largely been running out of GCC. They have $25 in funding already, and are open to new builds/land purchase or renovating existing structures to meet their needs.

http://azbex.com/mcccd-sets-aside-25m-for-corporate-college-project/

Would be great to see the former Pappas School land on VB/4th Avenue used for the project, anchored by a tower and several midrises including family-friendly student housing.

Might be a catalyst for either/both of Rio Salado and Phoenix College to expand their presence downtown at the same time, since the main focus seems to be on continuing education and the like. That focus makes me think a central Phoenix location is ideal, and that if downtown can't be sold as the business hub of the Valley, it's in deep trouble.

Educational options are crucial to the success of any major city, and while high-rise development might be far-fetched, they can't possibly build any less dense than ASU already has, and even buildings of ~6 stories along 4th would be a stimulus for revitalization, IMO.

First Piece of sky crane now laying on ground ready for install.

[nickw252]

The Hotel Monroe redevelopment in downtown Phoenix has hit yet another roadblock.

The new owner of the long-vacant, historic building is seeking property tax breaks for a proposed 165-room Hilton Garden Inn.

But Minneapolis-based CSM Corp. cannot get them from either the city of Phoenix or Maricopa County.

That has construction of the hotel at the 82-year-old building on hold again.

Other developers and businesses have benefited greatly over the years from Government Property Lease Excise Taxes. Those involve local government owning parcels of land and then leasing the property to private entities who then benefit from lower taxes.

That’s what CSM has been seeking for the 13-story building on Central Avenue and Monroe Street.

The city of Phoenix ran into troubles in approving the property tax break because a property tax break for the CSM hotel created conflicts via municipal bonds used to pay for the Sheraton Phoenix Downtown Hotel.

Maricopa County CFO Shelby Sharbach said CSM then turned to the county for the same GPLET type tax benefit because credit rating agencies were keeping close tabs on the city financed Sheraton Hotel.

The county was going to do the tax break via the Maricopa County Stadium District, which also owns Chase Field.

But that plan was stopped after the county learned it still needed Phoenix to approve an eight-year tax abatement for the CSM Hilton. That is hung up by the Sheraton bond complications, Sharbach said.

“That’s all put everything on hold and off the table,” she said.

CSM officials did not respond to a request for comment.

Sharbach said the Hotel Monroe redevelopment is not dead but the current property tax break avenues have hit dead ends.

The Minnesota hotel development company had hoped to receive the tax break earlier this year and have the new hotel open by February’s Super Bowl in Glendale.

The art deco style building remains empty. The property was previously called the Professional Building. It was foreclosed on in 2010 and saw several potential buyers come and go without buying the property.

CSM bought the building in 2013 for $7.9 million.

http://www.bizjournals.com/phoenix/news/...elopment-delayed-again-tax.html?page=all

[SunDevil]

Originally Posted by HooverDam

anyone know what's being built on 3rd St up bu China Chili? I quickly went by it on by bike last night so I did't take note of the minor cross street It looks like stick frame construction, maybe 2 stories, but it's built right up to the street and filling in a dirt lot, so thats nice.

Been wondering myself I think it will be a restaurant since I thought I saw a posting for a liquor license like 6 months ago. Multi building restaurant?

Also, it didn't used to be a dirt lot it was housing designated as commercial so there were some offices there.That stretch of third street from Thomas to Indian School could become nice sine one of the strip mall like buildings on the west side looks like it got a new tenant too.

[HX_Guy]

So this is really happening?

Chicago developer to build Phoenix's tallest residential high-rise

Phoenix has selected a Chicago developer to build the city's largest and tallest residential high-rise in downtown, a 34-story glass tower that will change the city's skyline.

Plans for the massive development, known as Phoenix Central Station, include about 475 apartments, 30,000 square feet of commercial space and a dog park. It will meld those uses with a bustling transit hub already on the site at 300 N. Central Avenue.

Smith Partners LLC is expected to begin construction on the $82 million development by August 2015 and open its doors in 2017.

Phoenix leaders said Central Station will bolster the cultural and economic renaissance underway in the downtown core. The area has transformed in recent years as the city has invested heavily in a light-rail system and incentives to lure large developments.

Attracting more residents, officials said, is the next step toward attracting new amenities and keeping downtown's restaurants, bars and shops in business. David Krietor, CEO of the marketing and planning group Downtown Phoenix Inc., said the Central Station project has the potential to create an entirely new neighborhood within downtown, bringing more than 600 people to a lot that currently serves a limited purpose as a bus and light-rail stop.

"We really are beginning to develop an extremely vibrant place whose economic success, I think, is helping the rest of the city," Krietor said.

Phoenix owns the land and wanted a project that would integrate with the site's light-rail stations and create a urban environment friendly to residents, shoppers, pedestrians and bicyclists.

Councilwoman Kate Gallego, whose district includes parts of downtown, has emphasized the need to make the project walkable and appealing at the street level by including space for recreation and work areas for budding entrepreneurs.

"Some of the buildings we've built in our downtown have a more suburban feel," she said. "The more you can design the major street spaces to be attractive to pedestrians, the more vibrant it will feel, the more we'll get that active downtown feel that people are beginning to celebrate."

Deputy Economic Developer Scott Sumners said Smith Partners, which submitted the winning bid, has constructed nine similar high-rise projects in the Chicago area.

Potential rental rates in the tower, which will have luxury amenities, will be $800 for a studio apartment, $1,100 for a one-bedroom apartment and $1,600 for two-bedroom units, according to the proposal.

Phoenix leaders voted 6-2 to approve the terms of a development agreement earlier this month. The deal includes an incentive package that city officials said is necessary to attract downtown development on this scale.

As part of the deal, Phoenix will give Smith Partners a controversial tax-abatement incentive called a "government property lease excise tax," or GPLET. The agreement allows the developer to avoid paying certain taxes because the city will keep title over the building and grant the developer an exclusive right to lease the property back from the city.

The arrangement allows Smith Partners to not pay property taxes for 25 years; a city official estimated property taxes would be $600,000 to $900,000 per year based on conversations with the developer. However, the developer will make smaller lease payments back to the city and, after eight years, pay different taxes on those lease payments.

Councilmen Jim Waring and Sal DiCiccio voted against the project, saying they oppose the use of GPLETs. Critics say the incentive shifts the tax burden onto small businesses and homeowners.

"It's nothing about this project; I've just always been opposed to this method of financing," Waring said.

Supporters say GPLETs are one of the few tools cities have to promote economic development.

Overall, the city expects the project will generate more than $32 million in revenue over the first 25 years. The value of its incentives to the developer will be roughly $18 million to $25 million, depending on the GPLET estimated value.

"Land that currently generates zero revenue will turn into a commercial and residential high-rise and transit hub," Mayor Greg Stanton said.

http://www.azcentral.com/story/news/loca...wntown-apartment-tower-tallest/17177161/

[kingofleos]

It will be nice to see the renderings. So a 34-story is what? 375 feet give or take?

I'm glad something else is going up. Let's cross our fingers it's not a dud.

[dtnphx]

Originally Posted by kingofleos

It will be nice to see the renderings. So a 34-story is what? 375 feet give or take?

I'm glad something else is going up. Let's cross our fingers it's not a dud.

We've been talking about this project for months. Here's a rendering.
http://azbex.com/smithfield-properties-wins-483ksf-72-3m-central-station-in-phoenix/

[HX_Guy]

Originally Posted by kingofleos

It will be nice to see the renderings. So a 34-story is what? 375 feet give or take?

I'm glad something else is going up. Let's cross our fingers it's not a dud.

That's about right, 44 Monroe is 380' and same floor count.

[gymratmanaz]

And they are saying a new highest for residential, not office, so it should be above Monroe's height.

It sounds like they are planning more shopping space in it than said before???? Would be nice to add more of this downtown. Make it a second focal point for residence and retail!

[ASUSunDevil]

Screw Sal DiCiccio. Luckily someone gets it:

"Land that currently generates zero revenue will turn into a commercial and residential high-rise and transit hub," Mayor Greg Stanton said.

[pbenjamin]

I don't usually agree with Better Call Sal, but there is a point to be made that GPLETs are depriving some of the poorest school districts in the state of much needed property tax revenue. A method which gives the developers a tax break that doesn't do it directly to the schools would be much better. Sal would of course oppose that too...

[CrestedSaguaro]

Originally Posted by gymratmanaz

And they are saying a new highest for residential, not office, so it should be above Monroe's height.

It sounds like they are planning more shopping space in it than said before???? Would be nice to add more of this downtown. Make it a second focal point for residence and retail!

Early articles indicated 390'. Renderings I have seen however make it look like it is more 400'ish and it actually lines up a little taller than US Bank Center in the renderings, but the rendering perspective is probably not 100% accurate.

This sounds like it may have a green light. I sure hope so and can't wait to see a final proposal

[Jjs5056]

I really want to see perspectives from Central, 1st, and Van Buren to understand how the commercial space and garage are being integrated into the southern part of the project.

It was described as a multi-level garage built over the transit offices and incubator. But, that was with 10K of commercial space. Now that there's 40K, it'd have to be multi-level... and I hope instead of offices along all 3 streets at ground level as originally proposed, we don't end up with the garage built completely separate on one side with a 3-story office 'tower' attached with frontage on only one street.