Tempe Development Thread - Page 436

Obadno · #**8701** Posted **Aug 15, 2019, 7:58 PM**

Quote:

Originally Posted by muertecaza

Can't read the article anymore but I assume the headline about says it all:

https://www.bizjournals.com/phoenix/news...r-fire-in-tempewont-delay-watermark.html

That is pure PR there is no way they know yet if there will or wont be a delay for the retail.

CrestedSaguaro · #**8702** Posted **Aug 15, 2019, 8:26 PM**

Quote:

Originally Posted by muertecaza

Can't read the article anymore but I assume the headline about says it all:

https://www.bizjournals.com/phoenix/news...r-fire-in-tempewont-delay-watermark.html

Complete article...

Quote:

Developer: Fire in Tempe won't delay Watermark opening
Despite creating a huge smoke plume that could be seen for miles across the Valley Wednesday, the fire at the construction site of the Watermark in Tempe will not delay the project's opening.

“The fire that broke out was small and isolated to a small area of a steel structure of the retail building,” Mike Loretz, project manager for Los Angeles-based Fenix Development Inc., the developer of the project, told the Business Journal. “Fortunately, no one was injured. Because the damage was minor, it will have no impact on the completion date of the project.”

ABC15 reported workers were welding bracers to the building’s metal structure, which set the foam roof on fire, which spread to other flammable materials on the roof at about 2:30 p.m. Wednesday.

“We're thankful for the quick response by the brave members of Tempe Fire Department in containing the fire before it could spread,” Loretz said in an email. “We are also grateful for the support and professionalism by the Tempe Police Department.”

The fire burned a portion of the retail building, which has already signed several tenants and is expected to open this fall. Panini Kabob Grill, Obon + Sushi + Ramen, V’s Babershop and Dip Nail Bar have all signed on as tenants for retail space.

The Watermark’s Phase I will include 265,000 square feet of Class A office space, 44,000 square feet of restaurant and retail space and 360 luxury apartments. The center will also feature a splash pad that will connect to the boardwalk and Tempe Town Lake.

So far, WeWork is the only office tenant to finalize a lease at Watermark.

Future phases of Watermark will include an additional 340,000 square feet of Class A office space, 20,000 square feet of retail and restaurant space and a 250-room hotel.

Mr.RE · #**8703** Posted **Aug 15, 2019, 8:28 PM**

Its still very concerning that at this point in the project, WeWork is the only finalized lease... now I'm sure there's negotiations going on behind the scenes with other users but seems very stagnant at this point.

combusean · #**8704** Posted **Aug 15, 2019, 9:42 PM**

Is Watermark even represented by a broker? It shouldn't be difficult or necessary to page through Google results to find information on leasing office space there that's not WeWork.

xymox · #**8705** Posted **Aug 15, 2019, 9:54 PM**

Quote:

Originally Posted by Mr.RE

Its still very concerning that at this point in the project, WeWork is the only finalized lease... now I'm sure there's negotiations going on behind the scenes with other users but seems very stagnant at this point.

I know of one relatively large company in Tempe that was going to take one of the upper floors of the Watermark. However construction was so slow they wound up in Skysong getting new space in the new building there.

In general every tech company wants to be in Tempe it seems - should be no problem filling in space there after a while.

PHXFlyer11 · #**8706** Posted **Aug 16, 2019, 7:25 PM**

Anyone grab a photo of The Pier? Is it above ground yet? I will never for the life of my figure this thing out. I get that it couldn't taken awhile excavating and they had some weird water thing as I recall, but hell now the floor plates should go quickly!

ASUSunDevil · #**8707** Posted **Aug 16, 2019, 7:31 PM**

Quote:

Originally Posted by PHXFlyer11

Anyone grab a photo of The Pier? Is it above ground yet? I will never for the life of my figure this thing out. I get that it couldn't taken awhile excavating and they had some weird water thing as I recall, but hell now the floor plates should go quickly!

Someone needs to ask a worker

I will if I'm over that way soon.

muertecaza · #**8708** Posted **Aug 16, 2019, 7:48 PM**

Quote:

Originally Posted by PHXFlyer11

Anyone grab a photo of The Pier? Is it above ground yet? I will never for the life of my figure this thing out. I get that it couldn't taken awhile excavating and they had some weird water thing as I recall, but hell now the floor plates should go quickly!

Some of the rebar is barely poking above ground, but they haven't started any above ground floors. The pace of this one is one of the great mysteries of our time.

cygnusloop99 · #**8709** Posted **Aug 16, 2019, 8:19 PM**

Quote:

Originally Posted by PHXFlyer11

Anyone grab a photo of The Pier? Is it above ground yet? I will never for the life of my figure this thing out. I get that it couldn't taken awhile excavating and they had some weird water thing as I recall, but hell now the floor plates should go quickly!

Pretty sure there is only one person working on that building.

asugrad · #**8710** Posted **Aug 16, 2019, 9:16 PM**

Quote:

Originally Posted by muertecaza

Some of the rebar is barely poking above ground, but they haven't started any above ground floors. The pace of this one is one of the great mysteries of our time.

it's either going to be the most well built building of our time, or its going to be complete garbage haha

Mr.RE · #**8711** Posted **Aug 16, 2019, 9:42 PM**

Quote:

Originally Posted by asugrad

it's either going to be the most well built building of our time, or its going to be complete garbage haha

Roman coliseums took decades to build but people line up for miles to see it. Some good things take time

PHXFlyer11 · #**8712** Posted **Aug 16, 2019, 9:44 PM**

Quote:

Originally Posted by asugrad

it's either going to be the most well built building of our time, or its going to be complete garbage haha

The strange thing is that usually when start construction you put out some PR on a semi regular basis so that the press is talking about your tower and you can appeal to future tenants. No press, and nobody here seems to hear anything. Nothing moving. It's just crazy. I think this ends up like the building by Chandler Mall. At this point, I'm going to go on the record and say this one doesn't get finished.

phoenixwillrise · #**8713** Posted **Aug 16, 2019, 10:27 PM**

Still say this is some guy and his kids building this thing. Maybe apprenticeship on the job training on all facets of construction.

CrestedSaguaro · #**8714** Posted **Aug 16, 2019, 10:38 PM**

It'll be a tree-house...

RichTempe · #**8715** Posted **Aug 17, 2019, 12:03 AM**

Quote:

Originally Posted by Mr.RE

Roman coliseums took decades to build but people line up for miles to see it. Some good things take time

The Colosseum in Rome actually only took 8-10 years to build. At the rate it's going, The Pier will take longer than that to complete and that's using modern machinery and computers! Of course they aren't using 100,000 slaves like the Romans did.

SunDevil · #**8716** Posted **Aug 17, 2019, 12:37 AM**

Quote:

Originally Posted by phoenixwillrise

Still say this is some guy and his kids building this thing. Maybe apprenticeship on the job training on all facets of construction.

There is a building (The McKenzie/Patterson Hotel) in my home town of Bismarck, ND that was completed by literally one or two guys. At the time, there was something about a building under construction not paying property tax. So after the main hotel portion was completed the owner hired some one to "finish" the rest of it... You can see it:

PHX-DUDE-MAN · #**8717** Posted **Aug 17, 2019, 5:01 PM**

Quote:

Originally Posted by muertecaza

Some of the rebar is barely poking above ground, but they haven't started any above ground floors. The pace of this one is one of the great mysteries of our time.

Yes for sure! I think they are having issues with financing and investors. I have no proof of this just speculation. I remember the Tempe West Sixth project was stalled for sometime and they filed bankruptcy during construction and someone else had to take it over to complete it. It was under construction I think from 2007 to late 2009.

soled · #**8718** Posted **Aug 19, 2019, 1:23 AM**

Quote:

Originally Posted by RonnieFoos

Isn't that foam supposed to be fire retardant? It lit up from a welder a couple floors down?

Not at all. It's actually one of the bigger challenges of firefighting. And plumbers and welders are often the cause of fires in structures under construction.

Mr.RE · #**8719** Posted **Aug 19, 2019, 4:03 PM**

Driving down Rural road and seeing the 777 Novus office rising along rural is dramatically changing the feel of that area of tempe. Also, the ISTB-7 Building is officially under construction! Saw crews out there working hard and expect to see that rising from the ground soon. Would love to find a webcam showing that whole phase...

azsunsurfer · #**8720** Posted **Aug 19, 2019, 5:03 PM**

Quote:

Originally Posted by Mr.RE

Driving down Rural road and seeing the 777 Novus office rising along rural is dramatically changing the feel of that area of tempe. Also, the ISTB-7 Building is officially under construction! Saw crews out there working hard and expect to see that rising from the ground soon. Would love to find a webcam showing that whole phase...

Novus should be topped out this week? One more floor to go. Hyatt should be topped out soon too! Not sure if there's been any leasing activity. Also I am wondering if the new developer for the Aspen Heights project is going to build it as is or if they are going to propose a new development? As for the ASU project, I think there have been some SRP crews on site I assume doing some water relocation work for the canal.