Phoenix Development News (3)

[ASUSunDevil]

Originally Posted by ct424

Was down there last week and looked to be at least a little progress. They've done some demolition work and there's fencing up from the tracks down to Buchanan between 3rd and 4th street. Ballpark Apartments was listed on the dust control permits.

Nice! Thanks.

[Obadno]

http://azbigmedia.com/ab/phoenix-2-cbre-tech-thirty

This is great news for Phoenix but especially for the Price Corridor and downtown where the tech operations like to locate.

Second only to San Francisco, the Valley continues to see the strongest tech-sector job growth in North America, reporting 44.5 percent job growth and more than 15,000 new jobs from 2013 to 2015.

[dtnphx]

From Phoenix Business Journal

Infill developer: Multifamily demand, good deals still in the pipeline

Land prices are up in downtown areas, parking is a hassle and Phoenix is actually starting to see not-in-my-backyard neighbors opposed to some new projects.

But that’s not discouraging Rob Lyles.

Lyles is a partner and co-founder of Deco Communities, the Scottsdale development firm has redone apartments complexes in Phoenix and Las Vegas. Deco is developing infill condos in Scottsdale and midtown Phoenix. Lyles is a glass-half-full kind of guy who says Phoenix is still one of the most pro-development cities in the country, especially compared to California. But he also sees Phoenix’s development approval process faster and easier than Las Vegas — another pro-growth, Sunbelt market.

He’s also not as concerned about rising land prices taking the steam out of urban-oriented developments — at least for now.Jared Lively, a vice president for Rein & Grossoehme Commercial Real Estate, said local land prices were as low as $20 per foot during the recession. That has risen to $60 per foot for deals getting done. Some real estate brokers and developers are starting to see asking land prices of $75 per foot or more. The concern is rising land prices could dampen infill and adaptive-reuse projects because higher costs make it harder to make those deals financially viable.

Lyles argues there are plenty of potential projects in the development pipeline from real estate bought during and right after the recession. “You have a lot of land that was purchased from that time period,” Lyles said.

Phoenix real estate costs also are a bargain compared to the sticker shock for land and rents seen in San Francisco and Los Angeles. Michael Lieb, who specializes in infill and redevelopment deals, said there are national developers and investors looking at Phoenix for projects. Lyles said the city of Phoenix’s push for more apartments and condos along the Metro light rail and migration by millennials and baby boomers to urban areas encourage more infill projects.

“Demand is still out there for a while,” Lyles said of millennial and baby boomers' desires for in-town living. On the financial side, Lyles said low interest rates can help with condo sales. Deco is developing the Edison condos in midtown Phoenix and the Envy Residences and Inspire condos in Scottsdale. But he adds that lenders are still cautious after the last crash and new federal banking regulations. Lively said that means developers might have put more of their own skin in the game and returns might not be as great.

Mike Sunnucks writes about residential and commercial real estate, government, law, sports business and workplace issues.

[nickw252]

Pictures of the First Baptist Church:

http://www.bizjournals.com/phoenix/news/...-an-old-downtown-phoenix-church-for.html

This project looks like it's going to be incredible. I love the old architecture.

[muertecaza]

Couple things from browsing Permits and Plan Reviews:

Parc Midtown (mentioned here: http://www.azcentral.com/picture-gallery...ment-condo-projects-in-phoenix/92830680/) got a building permit this week to start the adaptive reuse part of the project. Another 300 units at 3rd Ave/Indian School continues densification of the core.

Pre-Application Site Plan filed for 200 units at 601 N. 3rd Ave (https://www.google.com/maps/place/601+N+...cc!8m2!3d33.454913!4d-112.077346!6m1!1e1). Is this the Metrowest development? Or was that somewhere else?

EDIT: Also, the Capitol Lofts project (10th Ave/Washington) (https://www.phoenix.gov/pddsite/Documents/Z-2-16n.pdf) appears to be through zoning and began the plan review process this week.

[ASU Diablo]

Originally Posted by muertecaza

Pre-Application Site Plan filed for 200 units at 601 N. 3rd Ave (https://www.google.com/maps/place/601+N+...cc!8m2!3d33.454913!4d-112.077346!6m1!1e1). Is this the Metrowest development? Or was that somewhere else?

The one quoted above is on 3rd Ave n Fillmore. New Metrowest development will be on McKinley. Good news though!

[muertecaza]

Originally Posted by airomero83

The one quoted above is on 3rd Ave n Fillmore. New Metrowest development will be on McKinley. Good news though!

Nice. This one is apparently called "The Millard." The Application says 210 units on about 2 acres, on top of a parking podium. So this could have some decent height.

[ASU Diablo]

Do we have any news/updates on the Hines project, "The Canyon"? From reading this article, it looks like the developer pulled the project due to alley abandonment issues and not being able to work around the alley.

http://downtowndevil.com/2016/11/03/82566/alley-activation-program-to-get-one-year-trial/

[combusean]

I'm mixed on this.

It's stupid to turn down a project based on designing new things around ideals like pre-war activated alleys, but I can't be that sad about losing a stubby project with a city block sized parking garage.

[nickw252]

Originally Posted by muertecaza

Nice. This one is apparently called "The Millard." The Application says 210 units on about 2 acres, on top of a parking podium. So this could have some decent height.

So this would probably be about 5-7 floors of residential on top of 2-3 floors of parking? Does that sound about right?

This is what I based my my estimates from: http://www.minneapolismn.gov/www/groups/public/@cped/documents/webcontent/convert_266012.pdf

http://hugeasscity.com/2009/02/12/what-density-looks-like/

[vwwolfe]

Took a quick trip downtown to see the state of some of the construction projects. Pics below. Also uploaded some video at the following Youtube link.

https://www.youtube.com/watch?v=hUecJkVknp4

[Pink Jazz]

I was thinking whether if there will ever be significant highrises in the West Valley. I don't think Glendale really aims to be like Tempe, as the city's downtown area and demographics is actually more similar to Mesa than it is to Tempe.

However, what about other West Valley cities? Could we see future highrises in cities such as Peoria, Surprise, or Goodyear? These cities are growing at a faster rate. Goodyear I don't think has a real Downtown area yet.

[Buckeye Native 001]

Thanks for the photos vwwolfe, glad to see what's taking shape down in Phoenix from up here in Flagstaff.

[muertecaza]

Madison Street Jail to be rennovated into Attorney General Offices.

http://www.azfamily.com/story/33713122/handcuffs-coming-off-former-madison-street-jail

http://kjzz.org/content/395229/old-phoenix-jail-get-65-million-makeover



Seems like a good plan.

[nickw252]

Originally Posted by muertecaza

Madison Street Jail to be rennovated into Attorney General Offices.

http://www.azfamily.com/story/33713122/handcuffs-coming-off-former-madison-street-jail

http://kjzz.org/content/395229/old-phoenix-jail-get-65-million-makeover



Seems like a good plan.

It'll be the Maricopa County Attorney's Office, not the Attorney General's Office. The AG's Office is going to stay in their decrepit building on Washington Street.

[exit2lef]

Originally Posted by nickw252

It'll be the Maricopa County Attorney's Office, not the Attorney General's Office. The AG's Office is going to stay in their decrepit building on Washington Street.

No matter what they do with the interior, the building looks austere and imposing on the outside. That may be the look that a prosecutor's office wants, though.

[nickw252]

Originally Posted by exit2lef

No matter what they do with the interior, the building looks austere and imposing on the outside. That may be the look that a prosecutor's office wants, though.

The building currently looks like its from the Soviet Union. It's terrible. I'd almost rather they tear it down and start over.

[dtnphx]

A couple of things:

First, I really had no idea it was empty. I thought we had two full jails (4th Ave and this one). Secondly, why does a county attorney's office do with 230,000 SF? That's massive!
Third, I suppose they can make exterior improvements to open it up a bit, still it's something out of Escape from New York.

[nickw252]

Originally Posted by dtnphx

A couple of things:

First, I really had no idea it was empty. I thought we had two full jails (4th Ave and this one).

I didn't either. There's really no way anyone driving by or walking by would be able to tell given that there's no windows or any street presence.

Originally Posted by dtnphx

Secondly, why does a county attorney's office do with 230,000 SF? That's massive!

A quick search of the AZ Bar website using on "Maricopa County Attorney" as the employer results in 267 attorneys. Combine that with support staff and they're going to need a huge office.

Also, the article appears to suggest that this building will also be used for other county departments.

[Obadno]

Originally Posted by muertecaza

Madison Street Jail to be rennovated into Attorney General Offices.

http://www.azfamily.com/story/33713122/handcuffs-coming-off-former-madison-street-jail

http://kjzz.org/content/395229/old-phoenix-jail-get-65-million-makeover



Seems like a good plan.

This is honestly great news, I would much rather have a burtalist office building than a dead-zone jail