Phoenix Development News (3)

[nickw252]

This leasing page that links to "Phase 2" is dated 2017. Hopefully this is legit.

http://www.mccarthycook.com/portfolio/viad-corporate-center/

[dtnphx]

That has been on costar's proposed list for 20 years! I've used CoStar for 10 years and the funny thing is that they rarely take off proposed projects even though they are deader than dead. Also, not feasible to build a half million SF of office in midtown.

[biggus diggus]

I suppose there's always that glimmer of hope that someone may call them out of the blue and say "I saw you have 500K feet available, I'll take it. Let me know when construction is done" haha

[nickw252]

Originally Posted by biggus diggus

I suppose there's always that glimmer of hope that someone may call them out of the blue and say "I saw you have 500K feet available, I'll take it. Let me know when construction is done" haha

To spur construction we just need another anchor tenant - similar to Quicken Loans' situation.

[PHXflyer]

Originally Posted by exit2lef

I would assume / hope that it would have the same curvature as the first tower.

Somewhere along the line I saw the initial site plan for this project with the two towers. They were identical, but the second, yet to be built, was turned 90 degrees with an east/west orientation rather then the current north/south. It was positioned on the site to the west of the current tower, and
I believe just north of their parking garage. Hope they follow through with the original plans versus value engineering something new.

[biggus diggus]

There is a surface lot on the property which would be replaced with another building should the market ever demand. You can see the same "future building" pads at Arizona Center and various other sites around the city.

[plinko]

This. I have a picture of the model somewhere.

Originally Posted by PHXflyer

Somewhere along the line I saw the initial site plan for this project with the two towers. They were identical, but the second, yet to be built, was turned 90 degrees with an east/west orientation rather then the current north/south. It was positioned on the site to the west of the current tower, and
I believe just north of their parking garage. Hope they follow through with the original plans versus value engineering something new.

[biggus diggus]

There's a zoning change request sign in front of Los Olivos today. Sad day to be a car wash.

[pbenjamin]

Originally Posted by biggus diggus

There's a zoning change request sign in front of Los Olivos today. Sad day to be a car wash.

It's on the agenda for the 9/11 Encanto VPC meeting. Requesting a change from 14.5 dwelling units per acre to 97 dwelling units per acre. Staff recommends approval. About a month ago the nice lady that takes my order told me that they had no immediate plans but that there was some technical reason why it would be easier to get the change now than it would be in the future. Not sure I believe that.

[Phxguy]

http://downtownphoenixjournal.com/2017/09/05/new-tenant-announced-for-the-monroe-office-tower/

Another tenant for the 111 W Monroe building, now dubbed "the Monroe" I guess.

[CrestedSaguaro]

There is a nice big hole being dug at the SEC of Central and Virginia. Not sure what they are building, but I found a permit for Mountain West Contracting LLC to build a "commercial shell".

I'm hoping for something good to go there like restaurant space. Does anyone have any more info?

[biggus diggus]

The hole would be excavation of the fuel tanks from the Circle K which once stood there.

[pbenjamin]

It's going to be a deli. Spring of 2018

https://www.qsrmagazine.com/news/san-diego-based-rubicon-deli-expands-arizona

[CrestedSaguaro]

Originally Posted by biggus diggus

The hole would be excavation of the fuel tanks from the Circle K which once stood there.

That kinda answered half of my question, but what's going there? There was a zoning adjustment a few months ago and now activity with a building permit issued. But I can't find out exactly what's going up.

I'm sure it will be a minor development, but anything going in on that corner will benefit the intersection. It's a dead zone.

[CrestedSaguaro]

Originally Posted by pbenjamin

It's going to be a deli. Spring of 2018

https://www.qsrmagazine.com/news/san-diego-based-rubicon-deli-expands-arizona

Thanks! I was hoping for something like this. It's close to my office and will give me another lunch option

[ASU Diablo]

Retail updates in downtown:

Luhrs: La Madeline French Bakery, Central City Coffee
US Bank Building: Pig Pen Delicacy, Provisions, Central Bar @ 101 North, Toasted
San Carlos: Centrico (sounds like this is the Mexican restaurant we were all trying to guess)

[dtnphx]

Originally Posted by airomero83

Retail updates in downtown:

Luhrs: La Madeline French Bakery, Central City Coffee
US Bank Building: Pig Pen Delicacy, Provisions, Central Bar @ 101 North, Toasted
San Carlos: Centrico (sounds like this is the Mexican restaurant we were all trying to guess)

That's awesome news. Seeing Luhrs with more streetfront retail is huge! Phoenix, you're starting to act like a big city.....

[Obadno]

Originally Posted by dtnphx

That's awesome news. Seeing Luhrs with more streetfront retail is huge! Phoenix, you're starting to act like a big city.....

I have started my first official house hunt and I personally would prefer a centralized neighborhood even though I can get a lot more for my money further out. Until I have kids I don't see a point in moving way out to a burb.

Driving around North Central, Brentwood Park, Arcadia, Camelback east, and Downtown the speed of gentrification is absurd at this point and so are some of the prices , 550k for a 1700 sqft 1960's home at 36th street and Osborn....Are you effing kidding me??? anyway.

Anyway you can hardly drive a block in any of these older neighborhoods without seeing a house either being a tear-down or major renovation, Even along traditionally sketchy routes like 7th Street south of the Ballpark there is new development, for sale signs on industrial properties, new construction, the porn shop is gone! The Gravel manufacturer is empty, I assume it will be redeveloped into light industrial tilt-ups, North along the 17 there is a number of old office/industrial buildings undergoing renovation etc. etc.

Im just talking about small projects, nothing to be said for the larger ones going up around the city. Its a very exciting time for Phoenix in terms of development.

[CrestedSaguaro]

I do a LOT of driving for work and get to go all over the place. The amount of work going on in nearly every section of the city I go to is phenomenal! If I haven't been in a particular area for a couple of months and I go back, I'm always like, "That wasn't there the last time I was here!" or "What the heck are they building now?!"

As for the home prices, it's freakin' ridiculous here. Compared to Ohio, that same house you spoke of in a similar neighborhood would go for around 125k or less. I don't understand why people seems to think Phoenix is considered affordable? Maybe compared to Cali, but not compared to any other place I've lived (I've lived in 5 states)...and I make a decent wage

Originally Posted by Obadno

I have started my first official house hunt and I personally would prefer a centralized neighborhood even though I can get a lot more for my money further out. Until I have kids I don't see a point in moving way out to a burb.

Driving around North Central, Brentwood Park, Arcadia, Camelback east, and Downtown the speed of gentrification is absurd at this point and so are some of the prices , 550k for a 1700 sqft 1960's home at 36th street and Osborn....Are you effing kidding me??? anyway.

Anyway you can hardly drive a block in any of these older neighborhoods without seeing a house either being a tear-down or major renovation, Even along traditionally sketchy routes like 7th Street south of the Ballpark there is new development, for sale signs on industrial properties, new construction, the porn shop is gone! The Gravel manufacturer is empty, I assume it will be redeveloped into light industrial tilt-ups, North along the 17 there is a number of old office/industrial buildings undergoing renovation etc. etc.

Im just talking about small projects, nothing to be said for the larger ones going up around the city. Its a very exciting time for Phoenix in terms of development.

[Obadno]

Originally Posted by RonnieFoos

I do a LOT of driving for work and get to go all over the place. The amount of work going on in nearly every section of the city I go to is phenomenal! If I haven't been in a particular area for a couple of months and I go back, I'm always like, "That wasn't there the last time I was here!" or "What the heck are they building now?!"

As for the home prices, it's freakin' ridiculous here. Compared to Ohio, that same house you spoke of in a similar neighborhood would go for around 125k or less. I don't understand why people seems to think Phoenix is considered affordable? Maybe compared to Cali, but not compared to any other place I've lived (I've lived in 5 states)...and I make a decent wage

We seem to have a hard time shaking outdated perceptions about us both good and bad. Many of my contemporaries have noted the increased cost of living especially in the last few years both rents and home prices have gone up significantly.

Lets blame Californians for it.