General Phoenix Metro Discussion Thread

[xymox]

Originally Posted by Obadno

Shockingly, the semi-failed City North Project is finally out of litigation and now some long fallow dirt can begin to be developed in Desert Ridge.

https://azbigmedia.com/96-5-acres-in-desert-ridge-sell-for-54-million/

That explains why that lot has sat empty for so long. Will be quite happy to see this area grow. But - I’ll also believe it when I see it. Betting this is more of a ‘next cycle’ project.

[Obadno]

Originally Posted by xymox

That explains why that lot has sat empty for so long. Will be quite happy to see this area grow. But - I’ll also believe it when I see it. Betting this is more of a ‘next cycle’ project.

Based on current Phoenix rents, vacancies, job growth, and property values this cycle isnt done for at least another year or two.

At least not in Phoenix metro.

[TakeFive]

Originally Posted by xymox

That explains why that lot has sat empty for so long. Will be quite happy to see this area grow. But - I’ll also believe it when I see it. Betting this is more of a ‘next cycle’ project.

I know; I gave up wondering and just figured I'd hear something when I did. Than along comes Obadno to save the day.

Originally Posted by Obadno

Shockingly, the semi-failed City North Project is finally out of litigation and now some long fallow dirt can begin to be developed in Desert Ridge.

https://azbigmedia.com/96-5-acres-in-desert-ridge-sell-for-54-million/

Nice find; that's amazing news.

Originally Posted by Obadno

Based on current Phoenix rents, vacancies, job growth, and property values this cycle isn't done for at least another year or two.

At least not in Phoenix metro.

Agreed and this particular area is especially not vulnerable to run-of-the-mill downturns. Afaik, High Street is doing well.

This part is impressive.

Crown is already working with several major corporate users looking to locate their business at Desert Ridge. Crown will begin developing the property this spring and plans to complete the streets, sidewalks and landscaping by the end of 2019. In addition, Crown anticipates the first office building, the first residential project and the first restaurant all starting construction this year.

They've wisely moved on from the previous retail fantasies and know what will work best going forward.

[azsunsurfer]

Speaking of CityNorth, they are seeking tenants for the next phase which is a snazzy 5/6 story office building along with a hotel (nothing to write home about). Again with the Knipe House I need to find a way to post the renderings. I ended up getting sidetracked last night torturing Exit2leaf. It will go in along the western portion where the street "dead ends."

[Obadno]

Originally Posted by azsunsurfer

Speaking of CityNorth, they are seeking tenants for the next phase which is a snazzy 5/6 story office building along with a hotel (nothing to write home about). Again with the Knipe House I need to find a way to post the renderings. I ended up getting sidetracked last night torturing Exit2leaf. It will go in along the western portion where the street "dead ends."

Why cant you post them? Upload to Imgur or something and link the album.

[azsunsurfer]

Also from that previous article about the SE Valley, the author must have been joking about finding affordable new homes there...the cheapest you can find in those areas are in the low 300s....maybe my idea of an affordable house is dated?

[biggus diggus]

Originally Posted by azsunsurfer

Also from that previous article about the SE Valley, the author must have been joking about finding affordable new homes there...the cheapest you can find in those areas are in the low 300s....maybe my idea of an affordable house is dated?

Your idea of an affordable house isn't dated, you're just looking in areas that aren't "affordable".

What do you find "affordable"? $200K? Don't look in new areas of Gilbert and Chandler. Lots of places in that range around NW Phoenix and Glendale. Even Laveen.

[azsunsurfer]

I am not looking, I own multiple houses in Gilbert. I just feel bad for people who are trying to find something under 300K in a nice area like Chandler or Gilbert that is a house. I am sure you can find a condo for below that.

[biggus diggus]

I remember back in, what, 2004? when people were driving to Maricopa to find something they could afford. At least that isn't happening now. Buy a smaller house or a condo if you have a limited budget, if you get some equity or make more money then you can buy your house in Gilbert or wherever you think is nice.

[Obadno]

Originally Posted by azsunsurfer

I am not looking, I own multiple houses in Gilbert. I just feel bad for people who are trying to find something under 300K in a nice area like Chandler or Gilbert that is a house. I am sure you can find a condo for below that.

Post your renderings dooder

[azsunsurfer]

Originally Posted by biggus diggus

I remember back in, what, 2004? when people were driving to Maricopa to find something they could afford. At least that isn't happening now. Buy a smaller house or a condo if you have a limited budget, if you get some equity or make more money then you can buy your house in Gilbert or wherever you think is nice.

Totally agree!

[SunDevil]

Been living near 36th st and Thomas since 2011, and despite one poster's description of the area as a heroin infested crime ridden area, it's not. The bonus is that I'm kinda in the middle of the metro, have about a 4 mile to drive to work on Central. Houses here are about $250,000, but that is for 1300 sq/ft. I am a couple minutes to the new developments on Indian School near Arcadia and 15-20 minutes from downtown, Mill Ave, Old Town... and that's all on surface streets.

[xymox]

Originally Posted by biggus diggus

Your idea of an affordable house isn't dated, you're just looking in areas that aren't "affordable".

What do you find "affordable"? $200K? Don't look in new areas of Gilbert and Chandler. Lots of places in that range around NW Phoenix and Glendale. Even Laveen.

The north valley for the most part - the 'nice' areas north of L101 are well north of $300k at this point in time. $200k you need to 'drive until you qualify' again - unless you want a tiny place somewhere central. A tiny place you'll need to put money into...

[biggus diggus]

I was thinking more along the lines of 43rd avenue and Thunderbird

[xymox]

Originally Posted by biggus diggus

I was thinking more along the lines of 43rd avenue and Thunderbird

That's not really NW PHX - that's 'west central' or just 'west' if you look at city boundaries...

But yeah - Trulia shows a lot around 1200-1600sq ft in 220-260k range. And again - you will probably want to put money into them. Once you cross the magical boundary into Glendale prices jump north of 300k - especially around Marshall Ranch.

Finding homes in that price range in the central core is quite a challenge, but possible. Finding prices in that range in a 'nice' part of town is almost impossible.

[TakeFive]

Context is everything.

Consider that at the current rate of growth in the area it won't be that long before you'll need to add $50-75,000 to all those numbers.

Metro Phoenix does have the advantage though of having built tons and tons of entry level and next level moderate housing.

[biggus diggus]

Originally Posted by xymox

That's not really NW PHX - that's 'west central' or just 'west' if you look at city boundaries...

But yeah - Trulia shows a lot around 1200-1600sq ft in 220-260k range. And again - you will probably want to put money into them. Once you cross the magical boundary into Glendale prices jump north of 300k - especially around Marshall Ranch.

Finding homes in that price range in the central core is quite a challenge, but possible. Finding prices in that range in a 'nice' part of town is almost impossible.

We're really splitting hairs over what can be considered "northwest phoenix" aren't we?

[soled]

Originally Posted by SunDevil

Been living near 36th st and Thomas since 2011, and despite one poster's description of the area as a heroin infested crime ridden area, it's not. The bonus is that I'm kinda in the middle of the metro, have about a 4 mile to drive to work on Central. Houses here are about $250,000, but that is for 1300 sq/ft. I am a couple minutes to the new developments on Indian School near Arcadia and 15-20 minutes from downtown, Mill Ave, Old Town... and that's all on surface streets.

I don't mean to sound like I'm piling on, but in all honesty, although it isn't one of the very worst areas, it has a long way to go to not be considered a little rough in the eyes of public safety's 1st Responders. There is a sizable amount of activity in the heart of all that. There are just too many magnets for some of the folks who engage in shady behavior.

And you're correct-it is centrally located. But even though the distances to the places you mention are close, the traffic along Thomas Rd make it bad enough to where it seems as if they're not exactly convenient.

I do hope it gets better some day, but my firsthand experiences of almost 30 years there, it has a pocket that's worse than it was 30 years ago.

That said, it's clearly improved just one mile north along the corridor of Indian School Rd.

[biggus diggus]

My experience in that area is limited to where I have rental buildings, this is a shot of crimes just in the past month:



We've had numerous sting operations, shootings, and assaults in the neighborhood. A lot of it goes unreported because it's between two addicts and they just wander off after whatever it is that just happened to them. I take my watch off and leave it in the car or put it in my pocket when I'm visiting the building, the number of times sketchy people who don't belong there have just been hanging around is pretty amazing. My take isn't hyperbolic nor am I just spouting conjecture from hearsay. I've seen it first hand. I take care of my tenants, though. My building is good people who wouldn't live there if they didn't have to, as long as they are staying with me and being good people I will continue to go above and beyond for them.

[soled]

Originally Posted by biggus diggus

My experience in that area is limited to where I have rental buildings, this is a shot of crimes just in the past month:



We've had numerous sting operations, shootings, and assaults in the neighborhood. A lot of it goes unreported because it's between two addicts and they just wander off after whatever it is that just happened to them. I take my watch off and leave it in the car or put it in my pocket when I'm visiting the building, the number of times sketchy people who don't belong there have just been hanging around is pretty amazing. My take isn't hyperbolic nor am I just spouting conjecture from hearsay. I've seen it first hand. I take care of my tenants, though. My building is good people who wouldn't live there if they didn't have to, as long as they are staying with me and being good people I will continue to go above and beyond for them.

I think you have a decent handle on it. And my take is far from hearsay. I'm a 1st Responder who has worked in this area for decades. I go on these calls and in these houses and apts, seemingly endlessly.