Phoenix Development News (3)

[CrestedSaguaro]

Originally Posted by Obadno

Background on the Atari Hotel.

If this, and Meow Wolf come through then Roosevelt will indeed be a really crazy and fun area to visit. I am actually very hopeful.

https://azbigmedia.com/real-estate/heres-how-the-first-atari-hotel-landed-in-phoenix/

Funny! I was just looking at the atarihotels.com website when you posted this. I was also checking out True North's site. They continually update their website and Meow-Wolf is still listed on their collaborators page, so I think there is still some planning on Meow-Wolf, though I have not seen anything on the site itself submitted to Phoenix.

If Cobra Arcade is any indication of how wildly popular a retro video game hangout can be, I think the Atari Hotel are going to be a smash.

[CrestedSaguaro]

Tower crane base is onsite at the Aspire. Right now, the tower crane count is 10 including Fillmore (going up today) with Aspire and Derby soon to follow.

Wow

[Phxguy]

Originally Posted by RonnieFoos

Tower crane base is onsite at the Aspire. Right now, the tower crane count is 10 including Fillmore (going up today) with Aspire and Derby soon to follow.

Wow

Let’s get that crane survey guy back here!

[Obadno]

Originally Posted by Phxguy

Let’s get that crane survey guy back here!

Wasnt it like November and they said we had 1 crane

[CrestedSaguaro]

Originally Posted by Obadno

Wasnt it like November and they said we had 1 crane

And we're going to have about 7 more in the next month before any current cranes are removed. Walking around Downtown today, here's what I checked out that should have cranes soon:

1. Derby (rebar going in ground)
2. Aspire (shoring completed, rebar going in ground, crane base onsite)
3. Fillmore and 2nd Ave (O'Neil printing development, mostly grading still)
4. Knipe Village (construction equipment is onsite now with fencing and construction trailer now setup across the street)
5. Battery (garage nearly completed and 1 level above ground nearly completed)
6. Portrait 2 (large 200' mobile crane onsite currently with concrete getting poured)
7. Broadstone Portland (columns sticking above ground level now)

Also Hines should be close to raising the crane. The elevator shaft is only 1 1/2 sections below the jib. I have never seen this much construction going on in around 1 square mile like this. It's like nearly every block I walked on had something going. So crazy!

[combusean]

We need to slow this construction pace down before Ronnie has a heart attack.

[CrestedSaguaro]

Originally Posted by combusean

We need to slow this construction pace down before Ronnie has a heart attack.

I think I have one every time I go through Downtown!

[PHX31]

Originally Posted by RonnieFoos

And we're going to have about 7 more in the next month before any current cranes are removed. Walking around Downtown today, here's what I checked out that should have cranes soon:

1. Derby (rebar going in ground)
2. Aspire (shoring completed, rebar going in ground, crane base onsite)
3. Fillmore and 2nd Ave (O'Neil printing development, mostly grading still)
4. Knipe Village (construction equipment is onsite now with fencing and construction trailer now setup across the street)
5. Battery (garage nearly completed and 1 level above ground nearly completed)
6. Portrait 2 (large 200' mobile crane onsite currently with concrete getting poured)
7. Broadstone Portland (columns sticking above ground level now)

Also Hines should be close to raising the crane. The elevator shaft is only 1 1/2 sections below the jib. I have never seen this much construction going on in around 1 square mile like this. It's like nearly every block I walked on had something going. So crazy!

So there's a chance we could have 17 or 18 tower cranes up just in downtown Phoenix fairly soon?

What was the list of the top cities from the crane survey? I can't remember the list, but it would be nice to compare (although the other cities could change too, probably not 18-fold though).

[azliam]

Developer targets tech tenants for new midtown Phoenix office project

The developer of the planned Central Park mixed-use project to be built near Steele Indian School Park is beginning to market the office development's first phase to potential tenants.

“We kicked off our broker event about a month and a half ago,” Richard Garner, chief operating officer of project developer Pivotal Group Inc. told the Business Journal. “We’ve met with a lot of tenant rep brokers and it has been really well received.”

Garner said Pivotal Group is still working with the city on some final plans for the project, which will include six towers and 2.3 million square feet of space. Once plans are approved, groundbreaking will depend on tenant commitments.

In total, the project will include two office towers totaling 850,000 square feet, 650 total residential units in three towers, a 200-room hotel and 120,000 square feet of restaurant and retail space. The main courtyard will feature an outdoor amphitheater that can accommodate about 1,000 people for outdoor events, Garner said.

“We engaged a world-class architect, who is more of an artist, to put in an art structure that will also act as an amphitheater,” Garner said.

Gensler is the architect for the project.

The company is targeting tech companies for office tenants, which the developers believe are the businesses likely to be attracted to the area’s mixed-use environment that will include residential options and restaurants.

“We think this is an underutilized, underserved market,” Garner said of the midtown and uptown areas of Phoenix. “A lot of the product is functionally obsolete.”

Garner said the community has been supportive of the project, which will encompass about 18 acres of undeveloped land southeast of the park on Central Avenue and Indian School Road. The project could also spark other interest in the area once people see the potential, he said.

“People are excited to see that part of the Valley rise up and take its rightful place,” he said. “Energy attracts other energy.”

https://www.bizjournals.com/phoenix/news...idtown.html?iana=hpmvp_phx_news_headline

[PHXFlyer11]

Originally Posted by azliam

Developer targets tech tenants for new midtown Phoenix office project



https://www.bizjournals.com/phoenix/news...idtown.html?iana=hpmvp_phx_news_headline

I’ll believe it when I see it. But this is a good test for the Phoenix office market. If this works it could spur some office development downtown.

[biggus diggus]

That's not news. "developer talking to companies to see if there's enough office market to build a building". That's happening all the time.

[azliam]

Originally Posted by biggus diggus

That's not news. "developer talking to companies to see if there's enough office market to build a building". That's happening all the time.

At least it hasn't completely disappeared. When was the last time we heard anything about the Rastegar lot downtown?

[Obadno]

Originally Posted by azliam

At least it hasn't completely disappeared. When was the last time we heard anything about the Rastegar lot downtown?

This proposal has been out there a lot longer than the rastegar, with much more press and fanfare and renderings etc.

Rastegar is still almost a hypothetical.

[combusean]

Pivotal seems real and they're right about a lot of the Midtown product being obsolete. The vacancies are in the majority of cases small suites that could appeal to startups if Phoenix had that culture but the tech tenants they're targeting are the type committing to large, wide spaces for hellish open offices that have nearly as much parking as tenant space. You have to be creative when you're developing so much space and they're doing that. I am cautiously optimistic about this project.

[combusean]

Originally Posted by azliam

At least it hasn't completely disappeared. When was the last time we heard anything about the Rastegar lot downtown?

It takes about a year to come up with plans downtown, probably more in this case for the ambitiousness of the project--figuring out how much retail, hotel, and residential space the lot and market can support.

[xymox]

Originally Posted by combusean

Pivotal seems real and they're right about a lot of the Midtown product being obsolete. The vacancies are in the majority of cases small suites that could appeal to startups if Phoenix had that culture but the tech tenants they're targeting are the type committing to large, wide spaces for hellish open offices that have nearly as much parking as tenant space. You have to be creative when you're developing so much space and they're doing that. I am cautiously optimistic about this project.

Phoenix definitely has a ‘startup culture’ - there are over 300 startups downtown PHX currently. And startups used to use the office space in midtown in the late 90s early 2000s (I was part of a couple of them) - and even back then the buildings felt dated. Updated office space that attracts a big tech company could potentially bring the smaller startups back to midtown.

I think another thing that makes midtown unattractive is that its far away from any freeway. Not everyone commuting in can take light rail and bus is completely useless for long distance. Traffic down Indian School to Central is murder - too much cut through between 51 and 17. It’s too bad SR-50 (Paradise Parkway) was never built...

[Obadno]

Originally Posted by xymox

Phoenix definitely has a ‘startup culture’ - there are over 300 startups downtown PHX currently. And startups used to use the office space in midtown in the late 90s early 2000s (I was part of a couple of them) - and even back then the buildings felt dated. Updated office space that attracts a big tech company could potentially bring the smaller startups back to midtown.

I think another thing that makes midtown unattractive is that its far away from any freeway. Not everyone commuting in can take light rail and bus is completely useless for long distance. Traffic down Indian School to Central is murder - too much cut through between 51 and 17. It’s too bad SR-50 (Paradise Parkway) was never built...

The Paradise parkway was going to cut through one of the best old neighborhoods in town.

Im very happy it was never built.

[combusean]

Originally Posted by xymox

Phoenix definitely has a ‘startup culture’ - there are over 300 startups downtown PHX currently. And startups used to use the office space in midtown in the late 90s early 2000s (I was part of a couple of them) - and even back then the buildings felt dated. Updated office space that attracts a big tech company could potentially bring the smaller startups back to midtown.

I think another thing that makes midtown unattractive is that its far away from any freeway. Not everyone commuting in can take light rail and bus is completely useless for long distance. Traffic down Indian School to Central is murder - too much cut through between 51 and 17. It’s too bad SR-50 (Paradise Parkway) was never built...

I'm skeptical of this number but I don't have the on-the-ground sense that you do. I'm judging this by the VC that Phoenix companies receive and last I checked it barely registered. I'm jaded having worked for marketroids and scammers for many years.

[biggus diggus]

Does anyone remember the slice of land just on the east side of 43rd Avenue at about Colter that was set aside for the Parkway? They developed it many years ago but many of us believed, until they developed it, that it was a signal the freeway was a sure thing.

from 1986:

[CrestedSaguaro]

Originally Posted by Obadno

The Paradise parkway was going to cut through one of the best old neighborhoods in town.

Im very happy it was never built.

Although it looks interesting and was proposed well before I was ever here, I agree with you that it's good that it was never built. I do see the need for an East/West freeway, but Northern Parkway will eventually take care of that for most of the West Valley and I really don't see the need for a freeway between I-17 and SR-51. It's not that far of a distance and can be done in moderate traffic in 10-15 minutes depending on how far North you are.