Tempe Development Thread

[ciweiss]

More info on the above ^^^

http://azbigmedia.com/blogs/fenix-development-breaks-ground-watermark-tempe

[exit2lef]

Originally Posted by ciweiss

More info on the above ^^^

http://azbigmedia.com/blogs/fenix-development-breaks-ground-watermark-tempe

With this kind of development on the north side of the lake, it might make sense one day to extend the Tempe Streetcar to that area -- acknowledging of course that there would be big costs and formidable challenges in having it cross either the Rural or McClintock bridges. My dream scenario would be a new bike / ped / streetcar bridge somewhere between Rural and McClintock to mirror the existing bike / ped bridge near the Tempe Center for the Arts.

[ASU Diablo]

Did the Athletics District name officially change? It's now known as "Novus Innovation Corridor".

http://www.bizjournals.com/phoenix/news/...uld-bring-20-000-new-jobs-and-5-000.html

Arizona State University and development firm Catellus Development Corp. are moving forward with new development plans in Tempe near the Metro light rail.

The development, called the Novus Innovation Corridor, is part of the sports facilities development district formed by ASU in Tempe.

A centerpiece of the newest development phase will be Wi-Fi-enabled buildings, its location on Metro light rail and a focus on urban living and workspaces. Revenue within that development goes toward improvements at Sun Devil Stadium and other ASU athletics facilities At potential full build-out the Novus development will have 8 million square feet of mixed-use space. Catellus is the master developer for ASU on the project.

ASU officials say the new developments could bring 20,000 jobs and 5,000 new residents to downtown Tempe. The new development phase will bring 1 million square feet of Class A office space to the Novus development as well as a hotel, restaurants, retail and urban housing.

There will be three new office buildings at Rural Road and University Drive. ASU and Catellus are talking to development partners about a 260-unit multifamily project as well as potential hotels. The 330-acre development district is just east of ASU’s Tempe campus and Sun Devil Stadium. Some of the land is on the south side of Tempe Town Lake. The newest development phase is near the Metro light rail station at Rural Road and University Drive.

“The Novus Innovation Corridor is an opportunity for ASU to harness and leverage its resources to create a place that integrates leading-edge technologies into an urban landscape,” said ASU President Michael Crow. “The innovation corridor will be a constantly evolving illustration of how local and global enterprises can partner to put innovative research and technology into practice in the greater community.”

ASU and Catellus are already talking to restaurants, retailers and other tenants about the latest phase. “This is a rare opportunity to create a new infill, urban community from the ground up at an unmatched location and with the resources of a premier research university. This foundation facilitates our shared objective to develop a technologically-advanced, sustainable, innovative environment,” said Greg Weaver, executive vice president with Catellus Development Corp. “Catellus is committed to transforming Novus Innovation Corridor into a world-class urban community.”

[ASU Diablo]

More information here including some renderings and video:
https://novus.asu.edu/

[muertecaza]

Originally Posted by airomero83

More information here including some renderings and video:

Can't complain, the renderings look nice. I do feel like 5000 residents might be kind of on the low side? I don't have a great frame of reference, but for 330 acres, it seems like not that many people. A lot of that space still has to go to atheletics facilities I suppose, and combining 5000 residents with 20,000 jobs would be nothing to sneeze at. But I just feel like the more dense housing they can build, the better the area will be.

[muertecaza]

DRC Packet for the Arthaus project at Apache + Oak

https://www.tempe.gov/home/showdocument?id=51137







The neighborhood boo birds seem to be out in force against this one. I'll never understand people. The lot is a nasty, boarded up blighted building that the developer wants to turn into a beautiful project of for sale units, and all they can think about is the terrors of "HIGH DENSITY." Developer seems to have bent over backwards trying to step down the project to the South to transition the project toward the single-family homes, but they're never satisfied. Hope the DRC and City don't give this one a hard time. Every vacant lot along Apache needs to be at least this dense to make the massive investment in light rail worthwhile.

[ASUSunDevil]

Originally Posted by muertecaza

The neighborhood boo birds seem to be out in force against this one. I'll never understand people. The lot is a nasty, boarded up blighted building that the developer wants to turn into a beautiful project of for sale units, and all they can think about is the terrors of "HIGH DENSITY." Developer seems to have bent over backwards trying to step down the project to the South to transition the project toward the single-family homes, but they're never satisfied. Hope the DRC and City don't give this one a hard time. Every vacant lot along Apache needs to be at least this dense to make the massive investment in light rail worthwhile.

People living at Apache and Oak are fighting this!?!?!?

They must prefer meth addicts?

This project belongs in Old Town Scottsdale - they should be kissing this developers feet.

[muertecaza]

Another apartment development for Apache corridor. This one looks like it would be two buildings on the south side of Apache, one on either side of Terrace. One would be next to Nexa, the other would replace the D'Lite restaurant.

[ciweiss]

Some kind of construction going on at 4th and maple. Not sure if they are ripping that old fountain down or connecting 4th to maple. Anyone know? Mentions Hardison/Downey as the contractor but I see nothing on their site.

Kinda wish I saw that fountain working at least once. Looked pretty elaborate but ran down.

[rhivc]

Originally Posted by muertecaza

DRC Packet for the Arthaus project at Apache + Oak

https://www.tempe.gov/home/showdocument?id=51137







The neighborhood boo birds seem to be out in force against this one. I'll never understand people. The lot is a nasty, boarded up blighted building that the developer wants to turn into a beautiful project of for sale units, and all they can think about is the terrors of "HIGH DENSITY." Developer seems to have bent over backwards trying to step down the project to the South to transition the project toward the single-family homes, but they're never satisfied. Hope the DRC and City don't give this one a hard time. Every vacant lot along Apache needs to be at least this dense to make the massive investment in light rail worthwhile.

If you read through the emails from people living in the neighborhood behind the proposed development, you'll see they have good reason to object to the height and density. Just because a developer is repositioning a blighted plat doesn't mean they should be able to do whatever they want.

[azsunsurfer]

Light rail is there...they are by one of the countries' largest universities...there is already density...the proposal is modest at best, if they don't like it they can move.

[combusean]

I read through the comments. None of them have any real legitimacy.

Unless you consider a run-down stretch of Apache to be a "cultural resource area."

[azsunsurfer]

Can someone post the article about the Tempe Whole Foods? It's in the bizjournal this morning but behind a paywall.

[muertecaza]

Originally Posted by azsunsurfer

Can someone post the article about the Tempe Whole Foods? It's in the bizjournal this morning but behind a paywall.

The article looks like it's mostly about the Stadium District/"Novus" development. It only tangentially mentions Whole Foods with no new information.

Denver-based Forum Real Estate Group also has plans on University and Ash Avenue for apartments and long-coveted Whole Foods Market (Nasdaq: WFM).

That project is called The Local.

[muertecaza]

DRC recommended denial of Apache + Oak.

[azsunsurfer]

That's a disappointment. Tempe doesn't know what it wants.

[ASUSunDevil]

Originally Posted by muertecaza

DRC recommended denial of Apache + Oak.

While the stupidity of those neighbors annoys me, that area isn't nice enough to support that development as condos yet.

I hope the developer keeps these plans and moves them to a more deserving area of Tempe (closer to Tempe Town Lake/Mill). The perfect spot would be across from The Lodge where the squatter is still living

[Obadno]

Originally Posted by ASUSunDevil

While the stupidity of those neighbors annoys me, that area isn't nice enough to support that development as condos yet.

I hope the developer keeps these plans and moves them to a more deserving area of Tempe (closer to Tempe Town Lake/Mill). The perfect spot would be across from The Lodge where the squatter is still living

I thought a year ago or more that was going to court to solve once and for all.

The squatter/pioneer land-rights guy or whatever it is.

[dtnphx]

Originally Posted by azsunsurfer

Can someone post the article about the Tempe Whole Foods? It's in the bizjournal this morning but behind a paywall.

Here is an article from the BREW

FORUM DEVELOPING 286 APARTMENTS NEAR ASU . . . PROJECT INCLUDES WHOLE FOODS GROCERY

Tempe – In what marks the entry into the Valley for the firm, Forum Real Estate Group in Glendale, Colo. (Darren Fisk, founder) is developing 286 apartments and a Whole Foods Market on a parcel west of Arizona State University in Tempe. The mixed-use project, called The Local, is planned for a 1.858-acre site located west of Mill Avenue at the northwest corner of University Drive and Ash Avenue. A company formed by Forum Real Estate Group paid $7.931 million ($98 per foot) to purchase the vacant land, which has multiple addresses of 228-240 W. University Drive. The seller was University and Ash Owner LLC, a company formed by Alberta Development Partners LLC in Greenwood Village, Colo. (Donald Provost, principal). Maricopa County records show FDG Local Tempe Associates LLC (Forum Real Estate Group company) acquired the Tempe property with a $61.25 million loan from BOKF, which does business as Colorado State Bank and Trust. The single-asset buying entity is a company managed by Forum Management Inc. (also headed by Fisk). Design plans from Humphreys & Partners Architects L.P. show a nine-story structure with a two-level first floor that includes 41,200 sq. ft. of retail space pre-leased to Whole Foods for a grocery, two floors of parking and five levels of residential units on the fifth through ninth stories. The studio, one-, two- and three-bedroom units will range from 540 sq. ft. to 1,558 sq. ft. Monthly rental rates projected to run from $1,375 to $3,500. Construction is just getting started, with opening scheduled for first quarter 2019. JE Dunn Construction Co. is the contractor. Development cost (land and building) estimated at $100 million. According to an offering memorandum, Forum Real Estate Group is capitalizing the investment with almost $40 million in private equity. The luxury rental community, with numerous resort-style amenities and high-end finishes, will be developed under Forum’s Signature Collection. Those properties are described as “trophy assets in irreplaceable, marquee locations.” David Clock, development manager at Forum Real Estate, says while the Tempe site is the first acquisition in the Phoenix market for the company, it likely will not be the last. Since its formation in 2010, the privately-held Forum Real Estate Group has invested more than $1 billion, primarily in buying and developing multi-family assets. Current holdings include 16,585 apartment units as well as retail, office and commercial buildings in 60 + properties located in 17 states. In February 2014, BREW reported the entity formed by Alberta Development Partners paying $6.1 million ($75.37 per foot) to buy the Tempe land, which at one time was planned for 187 condominiums and the Whole Foods Market in an 18-story project called Mosaic. While the Canadian investor decided to sell the site, Whole Foods has remained committed to the development and has signed a lease to occupy the retail space for 20 years. In addition to the ground level grocery store, amenities planned at The Local include: fitness center with a yoga/spin room, live music areas, including an exterior deck with a music room connected to an indoor/outdoor bar and lounge, entertainment areas for table and card games, bicycle room/repair shop, working kitchen, conference rooms, business center, high-tech, wireless infrastructure, rooftop sky-lounge, dog walk area, two resort-style pools, private cabanas, outdoor grills, patios, courtyards and grass lawns with bocci ball. Roughly 75 percent of the renters at The Local are expected to be working professionals and empty nesters and the other 25 percent figure to be students. Designed with a theme that will center around music and food, the upscale community is expected to attract “mature Millennials coming into their own.” Find out more from Clock at (925) 337-1007. Talk to Provost at (303) 771-4004.

[muertecaza]

Originally Posted by Obadno

I thought a year ago or more that was going to court to solve once and for all.

The squatter/pioneer land-rights guy or whatever it is.

Still dragging on. The squatter (Sussex) filed suit to keep the land. Tempe won that case in the Superior Court, and on appeal, and the case is now on appeal to the Supreme Court.

Tempe filed a separate action to eject Sussex from the property last year. That case is still pending in the trial court.