Phoenix Development News (3)

[Phxguy]

Good news!! Although I have never came here on a field trip like article suggests.

http://azcapitoltimes.com/news/2017/05/15/arizona-mining-museum-reopen-arizona-gail-griffin/

[Obadno]

I think we already knew this but another great article confirming what we all have noticed over the last year or two and that is Phoenix is booming in a number of varied industries which means great things for our future especially in future recessions.

A more well rounded economy will mean we suffer less in downturns.

http://www.bbc.com/news/business-39808446

The subway stops near Wall Street are still crammed in the mornings yet financial firms in New York - once the centre of the money universe - aren't expanding the way they used to.

Companies in far-flung states such as Arizona and Texas are seeing the rise in financial jobs instead.

[dtnphx]

HOLD ON TO YOUR TITTIES!!!

31-story, $100M apartment tower planned for downtown Phoenix

A Florida developer is buying land at the Arizona Center in downtown Phoenix with plans for a 31-story, $100 million apartment tower.

West Palm Beach-based North American Development Group is buying a 39,970-square-foot parcel at the downtown development on Fifth and Van Buren streets.

The planned apartment tower will have 350 units and would be the second tallest building in the state after only Chase Tower.

“The addition of a residential tower to Arizona Center will truly set it apart as a downtown destination,” said Matt Root, CEO and managing partner for Parallel Capital Partners, which owns the Arizona Center. “We know North American Development Group will maintain the character and vibrancy of the brand and we look forward to seeing this project come to life.”

The apartment tower will have a six-level parking garage and 25 floors of apartments.

“This residential tower will help define the reinvention of the Arizona Center as a vibrant and fresh pedestrian-oriented live, work, shop precinct at the heart of Phoenix,” said Chris Chamberlain, a principal with North American Development Group. “We are looking forward to having roots in the core of downtown at the iconic Arizona Center.”

Architects for the residential tower project are Phoenix-based Will Bruder Architects.

Skanska USA is managing construction for the project.

The retail portion of Arizona Center is also going through some renovations, with plans for a $25 million facelift. The 16-acre Arizona Center could accommodate another 3.9 million square feet of development. The property already includes two office towers. Retail elements include a 24-screen AMC Theatres multiplex and a handful of restaurants, though there are several open retail spaces around the center.

Other planned improvements include site furnishings, shade structures, landscape, lighting, new materials, fixtures and finishes, wayfinding, and branded signage features. The current parking garage at Fif th and Fillmore streets also will be upgraded, and valet parking will be added on Thi rd Street between Van Buren and Fillmore streets.

Downtown Phoenix had more than 3,600 apartment units planned or already under construction as of September 2016, and it doesn't look like that development will slow anytime soon. Minnesota-based Mortenson Co., who recently began work on the nearby 11-story, 210-room Hampton Inn & Suites hotel at Central Avenue and Polk Street, has proposed plans to build a 20-story apartment next to the new hotel.

Mike Sunnucks writes about stocks and financial markets, real estate, government and sports business.

http://www.bizjournals.com/phoenix/news/...4e291dd986763848&t=1494960349&j=78183641

[ASU Diablo]

That is freaking awesome! But still kind of pathetic that a residential tower will be the 2nd biggest in the state. I think the time and opportunity is right to have a tallest office/residential tower soon. The perfect spot for it is still over the current transit center

But great news nonetheless and excellent for Arizona Center. After decades of slow foot traffic, it looks like it's coming alive! Can't wait to see what the new retail tenant lineup will look like!

EDIT: I think the article meant to say that it will be the 2nd tallest residential building in the state. 44 Monroe is at 34 stories so we can use that building for scale

[Obadno]

Now we are really cooking!

But as airomero83 is saying I wish some developers would take the risk on office development, there is clearly demand with tons of finance and tech firms moving to Tempe, Chandler im sure some spec office space downtown could snag some more looking for cheaper business locals.

Maybe they will build a 20-stroy office at block 23 with the new crane heights applied for.

EDIT: ALSO JUST THOUGHT OF THIS

Aren't some of the tallest buildings in NYC and Chicago now also residential? perhaps this is just the way our economy is working these days, people will pay for high rise living and commute out to suburban office complexes (or work from home) if they have too?

EDIT 2:

More deets:

A $100 million project, the planned 31-story tower will be the second tallest residential building in downtown Phoenix. Rising 25 stories above the swimming pool terrace on the roof of the six-level parking garage, will be 350 residences ranging from modest studios to one, two, and three bedroom units. Eight different floor plans will provide for innovative and functional contemporary living with a variety of unit sizes from 550 square feet to 1,650 square feet.

“This residential tower will help define the reinvention of the Arizona Center as a vibrant and fresh pedestrian oriented live/work/shop precinct at the heart of Phoenix,” said Chris Chamberlain of North American Development Group. “We are looking forward to having roots in the core of Downtown at the iconic Arizona Center.”

Carefully inserted into the palm-lined walkways of Arizona Center’s southeastern corner at 5th St. & Van Buren, the residential tower will provide a shaded arcade/courtyard experience for residents and visitors alike. In addition to a generous ‘lobby living room’ at its base, spaces for coffee, wine, and food will enliven the walkways with indoor and outdoor activity.

http://azbigmedia.com/azre-magazine/arizona-center-names-residential-developer

[LocoPhoenician]

Originally Posted by airomero83

According to their Instagram, they are open as of yesterday. Looking at their pics, the interior looks great. And it's located in the Colliers Center...next to Fed Ex Kinkos on the 2nd St side (under that funky location underneath the stairs)

I work in Colliers Center and just went down during lunch and they are closed. There is zero signage outside with their name yet.

[biggus diggus]

They just had their soft opening, Grand opening at a later date.

[ASU Diablo]

Originally Posted by LocoPhoenician

I work in Colliers Center and just went down during lunch and they are closed. There is zero signage outside with their name yet.

Uhh are you sure? Was just there minutes ago for lunch lol Sure the signage ain't the greatest but it's there and open. But if you've been to any of their other locations, you know they're more of a late afternoon/late evening type of joint. Just checked their website and downtown location opens at 1p while others open up at 3p.

[Obadno]

Originally Posted by airomero83

Uhh are you sure? Was just there minutes ago for lunch lol Sure the signage ain't the greatest but it's there and open. But if you've been to any of their other locations, you know they're more of a late afternoon/late evening type of joints. Just checked their website and downtown location opens at 1p while others open up at 3p.

I honestly hate the new name, the Pig's Meow was quirky, the whining pig is deliverance.

[LocoPhoenician]

Originally Posted by airomero83

Uhh are you sure? Was just there minutes ago for lunch lol Sure the signage ain't the greatest but it's there and open. But if you've been to any of their other locations, you know they're more of a late afternoon/late evening type of joint. Just checked their website and downtown location opens at 1p while others open up at 3p.

At 1230 it was closed and the black sign wasn't there. Wonder why they open at 1 and miss some of the lunch crowd if they opened an hour early.

[biggus diggus]

Originally Posted by LocoPhoenician

At 1230 it was closed and the black sign wasn't there. Wonder why they open at 1 and miss some of the lunch crowd if they opened an hour early.

Because like most bars that don't have a lunch menu they don't care about the lunch crowd.

[exit2lef]

1 PM is a weird opening time. If your traffic is mostly in the evening, opening at 4 PM like Bitter & Twisted makes sense. Otherwise, as noted, you'd pick up some lunch traffic by opening just an hour or two earlier. While Whining Pig doesn't have a distinct lunch menu, it does serve food. Still, it's the owners' decision to make and I hope it works out well for them.

[Ballister]

So there's an amazing story above about a 31-story highrise proposal yet, the discussion is dominated by an invisible bbq restaurant with odd hours? A topic to dive deep into only in this town.

[ASU Diablo]

Originally Posted by Ballister

So there's an amazing story above about a 31-story highrise proposal yet, the discussion is dominated by an invisible bbq restaurant with odd hours? A topic to dive deep into only in this town.

and way to go on adding some insightful commentary if that's the case

Peep the AZ Center thread for more discussion

[Obadno]

Originally Posted by Ballister

So there's an amazing story above about a 31-story highrise proposal yet, the discussion is dominated by an invisible bbq restaurant with odd hours? A topic to dive deep into only in this town.

Its actually a grilled cheese restaurant.

[combusean]

Originally Posted by Ballister

So there's an amazing story above about a 31-story highrise proposal yet, the discussion is dominated by an invisible bbq restaurant with odd hours? A topic to dive deep into only in this town.

Eh, the bbq restaurant is actually open. After the boom leading up to the Great Recession when everyone and their second cousin proposed a condo tower that went nowhere, I tend to get excited about things that exist in reality.

Altho, with this flooded apartment market downtown, I have to presume the developers see it too and if they're still legitimately pursuing the project there might be some teeth to it.

[biggus diggus]

It's not a BBQ restaurant or a grilled cheese restaurant, it's a beer and wine bar with five sandwiches. This isn't their first location in the valley, I go to the others quite often. Food is something they have just so people don't leave their bar stool to go somewhere else to eat dinner then not come back.

[LocoPhoenician]

Originally Posted by biggus diggus

It's not a BBQ restaurant or a grilled cheese restaurant, it's a beer and wine bar with five sandwiches. This isn't their first location in the valley, I go to the others quite often. Food is something they have just so people don't leave their bar stool to go somewhere else to eat dinner then not come back.

If this is the case then opening at 1pm isn't too smart at that time business folks are finishing up lunch not getting drunk.

[mdpx]

Originally Posted by combusean

Eh, the bbq restaurant is actually open. After the boom leading up to the Great Recession when everyone and their second cousin proposed a condo tower that went nowhere, I tend to get excited about things that exist in reality.

Altho, with this flooded apartment market downtown, I have to presume the developers see it too and if they're still legitimately pursuing the project there might be some teeth to it.

When the recent renovations were announced for Arizona Center, there was mention of residences and a hotel to be built on the property saying there was room for over 3 million SF of development. The fact that the residential tower is not "a reality" unless it's under construction, is rather cynical. Past performance is not always an indicator of future results.

[PHX-DUDE-MAN]

Originally Posted by dtnphx

HOLD ON TO YOUR TITTIES!!!

31-story, $100M apartment tower planned for downtown Phoenix

A Florida developer is buying land at the Arizona Center in downtown Phoenix with plans for a 31-story, $100 million apartment tower.

West Palm Beach-based North American Development Group is buying a 39,970-square-foot parcel at the downtown development on Fifth and Van Buren streets.

The planned apartment tower will have 350 units and would be the second tallest building in the state after only Chase Tower.

“The addition of a residential tower to Arizona Center will truly set it apart as a downtown destination,” said Matt Root, CEO and managing partner for Parallel Capital Partners, which owns the Arizona Center. “We know North American Development Group will maintain the character and vibrancy of the brand and we look forward to seeing this project come to life.”

The apartment tower will have a six-level parking garage and 25 floors of apartments.

“This residential tower will help define the reinvention of the Arizona Center as a vibrant and fresh pedestrian-oriented live, work, shop precinct at the heart of Phoenix,” said Chris Chamberlain, a principal with North American Development Group. “We are looking forward to having roots in the core of downtown at the iconic Arizona Center.”

Architects for the residential tower project are Phoenix-based Will Bruder Architects.

Skanska USA is managing construction for the project.

The retail portion of Arizona Center is also going through some renovations, with plans for a $25 million facelift. The 16-acre Arizona Center could accommodate another 3.9 million square feet of development. The property already includes two office towers. Retail elements include a 24-screen AMC Theatres multiplex and a handful of restaurants, though there are several open retail spaces around the center.

Other planned improvements include site furnishings, shade structures, landscape, lighting, new materials, fixtures and finishes, wayfinding, and branded signage features. The current parking garage at Fif th and Fillmore streets also will be upgraded, and valet parking will be added on Thi rd Street between Van Buren and Fillmore streets.

Downtown Phoenix had more than 3,600 apartment units planned or already under construction as of September 2016, and it doesn't look like that development will slow anytime soon. Minnesota-based Mortenson Co., who recently began work on the nearby 11-story, 210-room Hampton Inn & Suites hotel at Central Avenue and Polk Street, has proposed plans to build a 20-story apartment next to the new hotel.

Mike Sunnucks writes about stocks and financial markets, real estate, government and sports business.

http://www.bizjournals.com/phoenix/news/...4e291dd986763848&t=1494960349&j=78183641

Hi, I follow this forum all the time but never made an account. When I saw this news in the bizjournal I got excited. We should all contact this developer and request that they make it the tallest building in AZ! At least 500'.

Here is there contact page: http://www.nadg.com/contact/