Phoenix Development News (3) - Page 694

ASU Diablo · #**13861** Posted **Feb 11, 2019, 7:53 PM**

Did the City Council ever revisit this proposed development? Haven't heard anything since but glad to still see Hines plan on building the tower...

https://www.azcentral.com/story/news/loc...nment-district-proposal-hines/487146002/

Obadno · #**13862** Posted **Feb 11, 2019, 7:59 PM**

Quote:

Originally Posted by ASU Diablo

Did the City Council ever revisit this proposed development? Haven't heard anything since but glad to see Hines breaking ground on the tower pretty soon...

https://www.azcentral.com/story/news/loc...nment-district-proposal-hines/487146002/

Where did we see this breaking ground soon?

ASU Diablo · #**13863** Posted **Feb 11, 2019, 8:07 PM**

Quote:

Originally Posted by Obadno

Where did we see this breaking ground soon?

I was probably too ambitious with my wording but I anticipate it happening over the next couple of weeks. Hines stated ground breaking would occur in 1Q. Wasn't there a flurry of permit activity recently?

CrestedSaguaro · #**13864** Posted **Feb 11, 2019, 10:32 PM**

Quote:

Originally Posted by ASU Diablo

I was probably too ambitious with my wording but I anticipate it happening over the next couple of weeks. Hines stated ground breaking would occur in 1Q. Wasn't there a flurry of permit activity recently?

Not on this one. There was only a Plan Review, but nothing else has been submitted since.

Obadno · #**13865** Posted **Feb 11, 2019, 11:24 PM**

Took a Jaunt around downtown and it looks like utility and prep work are fully underway for the ASU biomed lab Building at 4th st and Garfield.

Quote:

Arizona State University is quietly preparing to break ground on a $77 million research center on the Phoenix Biomedical Campus in downtown Phoenix.

Baltimore-based Wexford Science & Technology LLC, a real estate company that builds research and medical centers nationwide, is building the project, which is being financed by Ventas Inc. (NYSE: VTR), a real estate investment trust.

The 200,000-square-foot Wexford Science and Technology building is an important step in ASU's expansion of its research footprint in downtown Phoenix and facilitating the growth of private sector investment in bioscience and health technology, said Morgan Olsen, executive vice president, treasurer and CFO of ASU.

“This is an important part of the strategy to attract private investment in that industry to downtown Phoenix and will help a robust biomedical technology ecosystem develop there," he said. "ASU is pleased to partner with Wexford, which has done this successfully in other places. The city of Phoenix has been an extraordinary partner and this represents exciting progress for all involved.”

Christine Mackay, economic development director for the city of Phoenix, which owns the 7-acre vacant parcel, said the property is north of Fillmore Street to Garfield Street, between Third and Sixth streets, which essentially is northwest of the 220,000-square-foot UA Cancer Center at St. Joseph's Hospital and Medical Center.

"We're always excited to see the Phoenix Biomedical Campus grow and look forward to a long partnership with Wexford and ASU," Mackay said.

Originally, ASU had planned to work in partnership on the research project with NantWorks LLC's Dr. Patrick Soon-Shiong, but that deal fell through two years ago.

Joan Koerber-Walker, president and CEO of the Arizona BioIndustry Association, said the Ventas-Wexford partnership represents an important next step in the development of expanded resources to house the Valley's growing biotech, medtech and health-care sector.

“By expanding the availability of lab space and other resources that support academic and commercial research and development in the biomedical fields, this project, anchored by Arizona State University, creates more places for life-saving products and services to be developed," she said. "It will be a welcome addition to the ecosystem that supports our bioscience community’s innovative work to improve health that is happening on the Phoenix Biomedical Campus and across the state.”

The 30-acre Phoenix Biomedical Campus has the capacity for 6 million square feet. So far, 1.6 million square feet have been built, housing ASU, University of Arizona and the Translational Genomics Research Consortium.

A Tripp-Umbach study released in 2014 showed the economic impact of the Phoenix Biomedical Campus was $1.3 billion, while UA's medical school had a $961.6 million impact.

phoenixwillrise · #**13866** Posted **Feb 12, 2019, 1:13 AM**

There is a special thread for the UofA/ASU Medical Center.

Obadno · #**13867** Posted **Feb 12, 2019, 1:56 AM**

Quote:

Originally Posted by Classical in Phoenix

Rode by One Camelback today. Looks like remodel to condos is going on. Windows in SW portion of building are out.

Can confirm about 1/3 of the windows on the building are now gone, it appears a lot of work has been done inside that we haven't really noticed.

azsunsurfer · #**13868** Posted **Feb 12, 2019, 4:30 PM**

Brew AZ today has a rendering for the office building at Roosevelt and Central (I think they are overdoing it with the Roosevelt murals). Interesting rendering.

Also they mention that Transwestern has closed on the 2nd site for the next phase of what I am assuming is Portrait on/at the Park. There is a rendering on the headline page.

Both are behind a paywall, not sure who has a Brew subscription?

CrestedSaguaro · #**13869** Posted **Feb 12, 2019, 4:58 PM**

Quote:

Originally Posted by azsunsurfer

Brew AZ today has a rendering for the office building at Roosevelt and Central (I think they are overdoing it with the Roosevelt murals). Interesting rendering.

Also they mention that Transwestern has closed on the 2nd site for the next phase of what I am assuming is Portrait on/at the Park. There is a rendering on the headline page.

Both are behind a paywall, not sure who has a Brew subscription?

I think the smiling Teddy is probably just a placeholder for where there will be potential art murals....at least I hope. I agree it would be a little overkill. As for Phase 2 of Portrait, I had no idea there was supposed to be a phase 2 and no idea where it could possibly go. The only thing I can think of is the office portion/garage that was to get renovated into new office space, but the headline suggests more apartment units. So yes. If anyone has access to AZ Brew, please share some details!

muertecaza · #**13870** Posted **Feb 12, 2019, 5:18 PM**

Quote:

Originally Posted by RonnieFoos

I think the smiling Teddy is probably just a placeholder for where there will be potential art murals....at least I hope. I agree it would be a little overkill. As for Phase 2 of Portrait, I had no idea there was supposed to be a phase 2 and no idea where it could possibly go. The only thing I can think of is the office portion/garage that was to get renovated into new office space, but the headline suggests more apartment units. So yes. If anyone has access to AZ Brew, please share some details!

In the absence of someone with a subscription, I suppose we're left to speculate. I'm curious whether it has something to do with the Way Cool/cat house lot. That one was proposed for 150 apartments about a year ago. Don't know enough to know whether 210 like the headline says would be possible there.

Obadno · #**13871** Posted **Feb 12, 2019, 5:21 PM**

Quote:

Originally Posted by RonnieFoos

I think the smiling Teddy is probably just a placeholder for where there will be potential art murals....at least I hope. I agree it would be a little overkill. As for Phase 2 of Portrait, I had no idea there was supposed to be a phase 2 and no idea where it could possibly go. The only thing I can think of is the office portion/garage that was to get renovated into new office space, but the headline suggests more apartment units. So yes. If anyone has access to AZ Brew, please share some details!

Phase 2 is the office building remodel off 3rd street

ASU Diablo · #**13872** Posted **Feb 12, 2019, 5:25 PM**

Quote:

Originally Posted by Obadno

Phase 2 is the office building remodel off 3rd street

The headline literally reads "Transwestern Venture Closes Site for 210 Units in Phase Two of Hance Park Apartments"

CrestedSaguaro · #**13873** Posted **Feb 12, 2019, 5:26 PM**

Quote:

Originally Posted by Obadno

Phase 2 is the office building remodel off 3rd street

The article headline states 210 units which would seem to indicate more residential. Could be just a mistake in the article. But I'm wondering if they are scrapping the office in favor of more apartments or as muertecaza stated, could be the site of the former cat house? That property was up for sale. Gosh...I almost want to pay $389 for a 1 year subscription to AZ Brew.....almost

Obadno · #**13874** Posted **Feb 12, 2019, 5:28 PM**

Quote:

Originally Posted by RonnieFoos

The article headline states 210 units which would seem to indicate more residential. Could be just a mistake in the article. But I'm wondering if they are scrapping the office in favor of more apartments or as muertecaza stated, could be the site of the former cat house? That property was up for sale. Gosh...I almost want to pay $389 for a 1 year subscription to AZ Brew.....almost

Hmm, Idk, I dont recall any additional apartments being mentioned at any point for this project.

azsunsurfer · #**13875** Posted **Feb 12, 2019, 6:07 PM**

no, no no, the office is still it's own phase and has an active listing.

Originally when Portrait was built there was mention that the developer had an option to purchase a site across the street to build more apartments. That was based on market demand. Looks like there is demand as they are moving forward now with those plans.

haux · #**13876** Posted **Feb 12, 2019, 6:16 PM**

The Link was long ago topped off. Now there's roof stuff going on. Most of the glass is up as well.

I have an announcement: I am moving to Maryland in a little over a month to live with my girlfriend. I am going to miss Phoenix dearly. It's where I was born and where I've lived the last five years. Arizona's my home state and my favorite state. I am sure I will miss the 115-degree days right away.

So if you want to request any photos of projects or anything really downtown, send them my way. I have a wide-angle lens and telephoto lens, and I have access to the nine-level parking garage next to the Sheraton for some nice views of anything north of the Sheraton.

Obadno · #**13877** Posted **Feb 12, 2019, 6:42 PM**

Quote:

Originally Posted by haux

The Link was long ago topped off. Now there's roof stuff going on. Most of the glass is up as well.

I have an announcement: I am moving to Maryland in a little over a month to live with my girlfriend. I am going to miss Phoenix dearly. It's where I was born and where I've lived the last five years. Arizona's my home state and my favorite state. I am sure I will miss the 115-degree days right away.

So if you want to request any photos of projects or anything really downtown, send them my way. I have a wide-angle lens and telephoto lens, and I have access to the nine-level parking garage next to the Sheraton for some nice views of anything north of the Sheraton.

Sorry to see youg go, take a comprehehensive photo tour around town before you go!

CrestedSaguaro · #**13878** Posted **Feb 12, 2019, 6:46 PM**

Quote:

Originally Posted by azsunsurfer

no, no no, the office is still it's own phase and has an active listing.

Originally when Portrait was built there was mention that the developer had an option to purchase a site across the street to build more apartments. That was based on market demand. Looks like there is demand as they are moving forward now with those plans.

Eh, that would only deepen the mystery. The only lot that is adjacent to Portrait and available to develop right now is the old cat house lot. But I have not read anything that the lot was purchased by TransWestern. However, currently Portrait is already on 2 separate lots which are across the street from each other and a pedestrian bridge connecting them both. I presume the article could be dated and referring to the lot that is already developed? I really hate paywalls.

CrestedSaguaro · #**13879** Posted **Feb 12, 2019, 6:48 PM**

Quote:

Originally Posted by haux

The Link was long ago topped off. Now there's roof stuff going on. Most of the glass is up as well.

I have an announcement: I am moving to Maryland in a little over a month to live with my girlfriend. I am going to miss Phoenix dearly. It's where I was born and where I've lived the last five years. Arizona's my home state and my favorite state. I am sure I will miss the 115-degree days right away.

So if you want to request any photos of projects or anything really downtown, send them my way. I have a wide-angle lens and telephoto lens, and I have access to the nine-level parking garage next to the Sheraton for some nice views of anything north of the Sheraton.

Thanks for all the photo updates you have posted. Sorry to see you go.

CrestedSaguaro · #**13880** Posted **Feb 12, 2019, 6:53 PM**

....and here is the answer. My initial guess is the office will instead be apartments per this article from before the project started:

Quote:

Plans for the initial phase show 243, one-bedroom apartments and 76, two-bedroom units, 4,500 sq. ft. of commercial space and 475 parking stalls. Amenities include: a resort style swimming pool, “zen courtyard with dining and gaming,” resident lounge, business center, fitness facility and a parking garage. The second phase is proposed for a four-story, 138,000-square-foot office building. Short of demand for the office space, Transwestern could develop another 200 + apartments in phase two.

If this is correct, I really find it hard to believe Phoenix is struggling this much with filling even small office developments