Tempe Development Thread

[muertecaza]

Originally Posted by azsunsurfer

Great list! I would also add that build to suit that seems to be moving forward on the lake, the rendering is posted on this page.

I believe (if we're thinking of the same thing) that is no. 24--Office at Vista del Lago Dr.

[azsunsurfer]

oh then what's the one on the northside?? playa del?? I may have gotten those confused!

[muertecaza]

Originally Posted by azsunsurfer

oh then what's the one on the northside?? playa del?? I may have gotten those confused!

It's a good problem when there are enough projects ongoing to get them confused . North side is no. 4--Aura Watermark.

[azsunsurfer]

Originally Posted by muertecaza

It's a good problem when there are enough projects ongoing to get them confused . North side is no. 4--Aura Watermark.

Right? And no I am talking about the Irgens project that is entitled but long stalled.....in fact their updated marketing information has it scaled back yet again!

https://www.irgens.com/properties/979-playa-del-norte/

[Mr.RE]

Originally Posted by azsunsurfer

Right? And no I am talking about the Irgens project that is entitled but long stalled.....in fact their updated marketing information has it scaled back yet again!

https://www.irgens.com/properties/979-playa-del-norte/

Good find! This one is near the In N Out burger next to the Aloft Hotel near the 202. Its a dirt lot that wraps around the Ten01 on the lake apartments. Aerial provided below.

[Mr.RE]

Anyone have access to this article? They are talking about the District on Apache but I want to know if there is any mention of Upgrades or renovations planned or paint scheme to change.

http://https://www.bizjournals.com/phoen...-buys-fancy-student-housing-complex.html

[RichTempe]

Originally Posted by Mr.RE

Anyone have access to this article? They are talking about the District on Apache but I want to know if there is any mention of Upgrades or renovations planned or paint scheme to change.


http://https://www.bizjournals.com/phoen...-buys-fancy-student-housing-complex.html

Here you go. No mention of any renovations or painting.



NY investor buys fancy student housing complex near ASU's Tempe campus
The complex includes amenities such as a lazy river, outdoor theater

By Angela Gonzales – Senior Reporter, Phoenix Business Journal
Oct 3, 2018, 4:53pm MST
The Blackstone Group LP has paid $158.1 million for The District on Apache, a 279-unit student housing complex near Arizona State University in Tempe.

The 6-story building at 977 E. Apache Boulevard features a lazy river pool design and an outdoor movie theater.

The transaction was part of a portfolio acquisition totaling $1.2 billion, according to Vizzda, a real estate database.

In that larger package, Blackstone Real Estate Income Trust Inc. acquired EdR Student Housing Portfolio in a joint venture with Greystar Real Estate Partners.

The transaction was completed in conjunction with Greystar's previously announced $4.6 billion acquisition of Education Realty Trust (NYSE: EDR), one of the largest owners, developers and managers of collegiate housing in the U.S.

That huge portfolio includes 10,500 beds across 20 student housing projects at ASU and other universities, including University of Arizona in Tucson, University of California Berkeley, University of California Riverside, University of Virginia, University of Colorado Boulder and Penn State.

The portfolio has consistently maintained occupancy rates over 97 percent and has achieved 98.5 percent beginning occupancy with 3.2 percent annual rate growth for the 2018-2019 academic year, according to New York-based Blackstone.

The Greystar/EdR team will continue to manage the assets.

[ASUPope]

I know it's not as big as everything else, but is on a major intersection in Tempe that leads into the heart of ASU.

What is going on with the old Phoenix Flower Shop building at the SW corner of Rural and Southern? Both building completely gutted and then some, and now some frames are up that makes it look like it might be a two story building?

Only reason I ask is since I drive by it everyday.

[RichTempe]

Originally Posted by ASUPope

I know it's not as big as everything else, but is on a major intersection in Tempe that leads into the heart of ASU.

What is going on with the old Phoenix Flower Shop building at the SW corner of Rural and Southern? Both building completely gutted and then some, and now some frames are up that makes it look like it might be a two story building?

Only reason I ask is since I drive by it everyday.

I think you mean the SW corner of Rural and Broadway. The Tempe Library is at the SW corner of Rural and Southern.

At any rate, I too have wondered what is going on with that building.

[muertecaza]

Originally Posted by ASUPope

I know it's not as big as everything else, but is on a major intersection in Tempe that leads into the heart of ASU.

What is going on with the old Phoenix Flower Shop building at the SW corner of Rural and Southern? Both building completely gutted and then some, and now some frames are up that makes it look like it might be a two story building?

Only reason I ask is since I drive by it everyday.

A Sherwin Williams store and an AT&T store.

https://www.tempe.gov/Home/ShowDocument?id=62239

[ASUPope]

Yes I meant Broadway, sorry. Thanks for the answer.

[Mr.RE]

"Becton, Dickinson and Co. plans to break ground later this week for a 120KSF building on the IDEA Tempe biotechnology campus just west of Tempe Center for the Arts. The building wills serve as the New Jersey-based global medical company’s southwest headquarters. This will be the first anchor tenant on the 18-acre IDEA Tempe campus."

The whole Southshore of Tempe town lake is really taking off. Im hoping to hear more news in the coming soon on the parcel on the NWC of rio salado and Rural next to marina heights. Hearing ideas thrown around for more office/hotel/multifamily mixed use project there.

[CrestedSaguaro]

Originally Posted by Mr.RE

"Becton, Dickinson and Co. plans to break ground later this week for a 120KSF building on the IDEA Tempe biotechnology campus just west of Tempe Center for the Arts. The building wills serve as the New Jersey-based global medical company’s southwest headquarters. This will be the first anchor tenant on the 18-acre IDEA Tempe campus."

The whole Southshore of Tempe town lake is really taking off. Im hoping to hear more news in the coming soon on the parcel on the NWC of rio salado and Rural next to marina heights. Hearing ideas thrown around for more office/hotel/multifamily mixed use project there.

I hope they build something moderately tall there. I think it would be a letdown for a 7-10 floor residential development in that spot. It's a major entry into Tempe/ASU and sould be something on the scale of Mirabella or Union IMO.

[Mr.RE]

Originally Posted by RonnieFoos

I hope they build something moderately tall there. I think it would be a letdown for a 7-10 floor residential development in that spot. It's a major entry into Tempe/ASU and sould be something on the scale of Mirabella or Union IMO.

It would have to be on par with Marina Heights towers at a minimum to even make sense. Its a premiere location like you said. 15-20 floors of residential would be prime there.

[muertecaza]

Couple photos of Watermark from across the lake:

[RichTempe]

Originally Posted by Mr.RE

"Becton, Dickinson and Co. plans to break ground later this week for a 120KSF building on the IDEA Tempe biotechnology campus just west of Tempe Center for the Arts. The building wills serve as the New Jersey-based global medical company’s southwest headquarters. This will be the first anchor tenant on the 18-acre IDEA Tempe campus."

The whole Southshore of Tempe town lake is really taking off. Im hoping to hear more news in the coming soon on the parcel on the NWC of rio salado and Rural next to marina heights. Hearing ideas thrown around for more office/hotel/multifamily mixed use project there.

Originally Posted by RonnieFoos

I hope they build something moderately tall there. I think it would be a letdown for a 7-10 floor residential development in that spot. It's a major entry into Tempe/ASU and sould be something on the scale of Mirabella or Union IMO.

Originally Posted by Mr.RE

It would have to be on par with Marina Heights towers at a minimum to even make sense. Its a premiere location like you said. 15-20 floors of residential would be prime there.

It's been posted on this thread before, but I couldn't find the OP. Here is a rendering and links to the IDEA project:



Article:

https://www.azcommerce.com/tech-connect/...-plans-its-first-biomed-and-tech-campus/

YouTube video:

https://www.youtube.com/watch?v=v6DiYjZ6B54

Since it's right in the flight path to Sky Harbor and quite a bit closer to the airport than the Marina Heights development, this is not going to be as tall or dense of a development. The land area alone isn't large enough for something on the scale of Marina Heights, nor do I believe the location is zoned for buildings that tall. The maximum heights will be on the order of 6-8 stories.

[Mr.RE]

Does anyone know whats going on with this parcel at tempe marketplace? For a while it had no fencing around it and then later installed a fence. Now they have green meshed tarp covering the fencing. Is some new development happening here?

[asugrad]

Originally Posted by Mr.RE

Does anyone know whats going on with this parcel at tempe marketplace? For a while it had no fencing around it and then later installed a fence. Now they have green meshed tarp covering the fencing. Is some new development happening here?

This was the parcel originally designed for a Sams Club many years ago.

[muertecaza]

Updates from Tempe's monthly construction report (https://www.tempe.gov/Home/ShowDocument?id=61009):

• The Collective (7th St./Myrtle apartments) has applied for a building permit
• Gilbane student/workforce housing at Apache/Terrace has also applied for a building permit
• Not that it was really in doubt but they have also applied for a building permit for the Whole Foods TIs in the Local
• The third Novus phase III development is going through entitlements--what looks like a dual branded Hyatt House + Hyatt hotel
• Freedom Financial is plugging along with a Phase III building going into the entitlement process

Seems like there will be no shortage of cranes in the near future in Tempe.

[exit2lef]

Some interesting news about Watermark:

The Watermark Tempe on Tempe Town Lake has signed its first retail and restaurant tenants.

Obon Sushi + Bar + Ramen, V’s Barbershop and Dip Nail Bar have finalized leases at the mixed-use development, which is planned to open in September 2019.

The highly anticipated first phase of the Watermark will open in September 2019 including 265,000 square feet of premium Class A office and 44,000 square feet of high-end restaurant and retail space centered around a splash pad, which will connect to the boardwalk and Tempe Town Lake. It will also include 360 luxury apartment units.

https://www.bizjournals.com/phoenix/news...pe-mixed-use-development-inks-first.html (behind a paywall)

I've eaten at Obon in Tucson. Pretty good ramen and cocktails. It'll be nice to have them in Tempe.