Tempe Development Thread

[muertecaza]

Look inside Biodesign-C building:

https://asunow.asu.edu/20171214-sneak-peek-inside-asus-new-biodesign-c-building-under-construction

The building looks really good--I love the copper exterior. Would love it if someone did something like it on a larger scale in Phoenix like the American Copper buildings in New York (http://skyscraperpage.com/forum/showthread.php?t=204053).

[muertecaza]

The proposal for Farmer Arts Parcel 1 passed the DRC. Doesn't appear to be anything like the coordinated opposition for this iteration. The only member of the public that spoke was the guy from the Riverside Neighborhood Association who typically opposes developments proposed in the area. The DRC did narrowly deny a proposal for a 16-unit development on vacant land at roughly Apache/Rural. The real coordinated opposition was against a Quick Quack Car Wash at McClintock/Baseline. They had matching buttons and everything.

[muertecaza]

They were finally moving dirt at the Pier site when I rode by this afternoon. Hopefully that means we'll see some movement going forward.

[ASUSunDevil]

Originally Posted by muertecaza

They were finally moving dirt at the Pier site when I rode by this afternoon. Hopefully that means we'll see some movement going forward.

Nice! I was a bit freaked out that it was stalled.

I think this is going to be a really great looking project.

[ASU Diablo]

https://www.bizjournals.com/phoenix/news...-flour-mill-project-gets-new-backer.html

The Tempe City Council approved a zoning change on Dec. 14 that would allow the development at the Hayden Flour Mill to go forward. Baum said the final plans will be presented to the Tempe City Council early next year, and a ground breaking will be held in March. He said construction should last about 15 months and should be completed by the summer of 2019.

[muertecaza]

Originally Posted by airomero83

https://www.bizjournals.com/phoenix/news...-flour-mill-project-gets-new-backer.html

Awesome news. And having the Portillo's founder on board as a financial backer is kind of cool. And Aparium looks like they do really good work. http://aparium.com/

[muertecaza]

[muertecaza]

Looks like Mirabella (senior tower at Mill/University) is about to start construction.

http://www.mailtribune.com/news/20171226/medford-based-prs-to-build-arizona-high-rise-project

TEMPE, Arizona — Pacific Retirement Services is ready to build the retirement industry’s most ambitious post-Great Recession housing project.

The Medford-based senior community development and management firm Friday announced a $251 million bond closing for its $270 million, 20-story Mirabella at ASU on the campus of Arizona State University.

After 70 percent of the 300 units were presold in a four-month period, PRS is ready to begin construction in January, with August 2020 the anticipated occupation date...

“It takes about 24 months from the awarding of a project to get it off the ground, so we’ve done this about as fast as we can. We opened our sales center in mid-September, and we’ve sold over 50 units per month. The state requires 50 percent presale, and the bondholders require 70 percent because they want to see if there is demand. This is the fastest we’ve ever got to 70 percent.”

...Mirabella at ASU offers urban access and resort-style venues. Penthouse and apartment units range from 751 square feet to 2,665 square feet. The tower has four dining venues, three of which are located on the penthouse level, an indoor pool and wellness center, an event center, a library and underground parking. Under a proposed collaboration agreement with ASU, residents of the community will be able to attend and participate in ASU classes, activities and programs.

...Portland-based Ankrom Moissan Architects designed the 613,000-square-foot tower, which will be built by McCarthy Construction Co.

...The Industrial Development Authority of the city of Tempe issued the bonds.

[ASUSunDevil]

Originally Posted by muertecaza

Looks like Mirabella (senior tower at Mill/University) is about to start construction.

http://www.mailtribune.com/news/20171226/medford-based-prs-to-build-arizona-high-rise-project

W6 looked out of place 5 years ago. Once Mirabella, Westin and hopefully 5th & Ash are built, the area will be worthy of W6's height.

These 5th & Ash renderings look fantastic IMO:

http://www.gglo.com/places/crescent-5th-and-ash/

[Classical in Phoenix]

Interesting that the state requires 50% presales before construction. I wonder if that is part of the reason high rise residential is mostly rental.

[muertecaza]

Originally Posted by Classical in Phoenix

Interesting that the state requires 50% presales before construction. I wonder if that is part of the reason high rise residential is mostly rental.

I think that 50% requirement is only when municipal bonds are used to fund the project. So it's a somewhat unique aspect of this project, not necessarily applicable to condo projects generally.

[Classical in Phoenix]

Thanks. I was wondering how that could work. I had never heard of anything like that.

[MegaBass]

Mad Hatter Brew Pub at 502 S College Ave will rebrand as an ASU themed College Bar & Grill.

[exit2lef]

Originally Posted by MegaBass

Mad Hatter Brew Pub at 502 S College Ave will rebrand as an ASU themed College Bar & Grill.

From one unoriginal name to another. This space cries out for a good tenant.

[ASU Diablo]

Originally Posted by exit2lef

From one unoriginal name to another. This space cries out for a good tenant.

Give it time. It’s now co-owned by Jim Healey, son of Tim Healey. Anyways, I expect great things from this bar. Big ASU guy

[exit2lef]

Originally Posted by airomero83

Give it time. It’s now co-owned by Jim Healey, son of Tim Healey. Anyways, I expect great things from this bar. Big ASU guy

Thanks from the info. I’m not a sports person, so I had to look up Tim Healey. While I was doing that, I also looked at the bar’s social media accounts. They’re showing more promise than Mad Hatter, so I’ll hope for the best, even if the generic name makes me skeptical.

[PHXFlyer11]

Originally Posted by ASUSunDevil

W6 looked out of place 5 years ago. Once Mirabella, Westin and hopefully 5th & Ash are built, the area will be worthy of W6's height.

These 5th & Ash renderings look fantastic IMO:

http://www.gglo.com/places/crescent-5th-and-ash/

Any indication that this is actually moving along? I figured it was another pipe dream with USA Place and 100 Mill.

Any movement on The Pier? So weird hos it seems like they are waiting on a tower crane but don't have their ducks in a row. Must be another amateur developer who doesn't know what they're doing.

[chris08876]

3310 × 4284 Rendering of Mirabella: http://www.mailtribune.com/storyimage/MM/20171226/NEWS/171229772/AR/0/AR-171229772.jpg

[Classical in Phoenix]

After seeing that they were close to breaking ground, my girlfriend and I went to their sales office today. We found out that we are still too young to live there...yay. It is interesting how you take possession. You pay a deposit into an escrow account, starting at $300k + for a smaller unit. Then you pay a monthly amount starting at $5,300. This monthly amount includes some meals and other amenities and the price goes up the more you use. When you leave the facility you get 90% of the deposit back. The owner is a nonprofit. The tenant never takes ownership.

[PHXFlyer11]

Can't recall that this was posted before... tower crane is up for Aura. Tempe is crane city!