Tempe Development Thread - Page 469

Phxguy · #**9361** Posted **Mar 15, 2020, 11:00 PM**

Noticed those power station towers between University and Rio Salado at McClintock are in the process of being demoed. Feels like the end of an era.

xymox · #**9362** Posted **Mar 15, 2020, 11:12 PM**

Quote:

Originally Posted by Phxguy

Noticed those power station towers between University and Rio Salado at McClintock are in the process of being demoed. Feels like the end of an era.

Wow - really? What are they being replaced with?

Phxguy · #**9363** Posted **Mar 16, 2020, 12:29 AM**

Quote:

Originally Posted by xymox

Wow - really? What are they being replaced with?

Found an old article from several years ago detailing what’s happening now at the site with the tower demolition. Looks like some upgrades.

https://azbex.com/aps-slates-700m-ocotillo-power-plant-upgrade/

stutteringpunk · #**9364** Posted **Mar 18, 2020, 12:27 AM**

So is it basically just the cloud factory that'll be sticking around in that area or is that going too?

CB1 · #**9365** Posted **Mar 18, 2020, 11:43 PM**

CB1 · #**9366** Posted **Mar 18, 2020, 11:43 PM**

plinko · #**9367** Posted **Mar 19, 2020, 4:58 AM**

^Wow. Did you happen to get a wider shot of the overall skyline from up there? Staggering what's happened to Tempe in the last dozen years.

CB1 · #**9368** Posted **Mar 19, 2020, 2:44 PM**

Quote:

Originally Posted by plinko

^Wow. Did you happen to get a wider shot of the overall skyline from up there? Staggering what's happened to Tempe in the last dozen years.

I just climbed A mountain.

I wonder if construction will come to a halt for moths with everything that’s going on.

CrestedSaguaro · #**9369** Posted **Mar 19, 2020, 4:58 PM**

Quote:

Originally Posted by CB1

I just climbed A mountain.

I wonder if construction will come to a halt for moths with everything that’s going on.

I do not think current projects will halt if they have already broken ground. I do think this may setback upcoming projects for a few months at the least.

Obadno · #**9370** Posted **Mar 19, 2020, 5:14 PM**

I would guess most everything under construction or at least fully financed will move ahead even if delayed. As long as this doesnt last for 6 months, otherwise who knows

Some of the more distant proposals might end up falling into the black hole of never builts

CB1 · #**9371** Posted **Mar 19, 2020, 7:56 PM**

Quote:

Originally Posted by CrestedSaguaro

I do not think current projects will halt if they have already broken ground. I do think this may setback upcoming projects for a few months at the least.

I remember the days during the 2008 financial when the West 6 towers were 90% completed and then sat vacant for years. Hopefully that doesn’t happen again.

CB1 · #**9372** Posted **Mar 19, 2020, 7:57 PM**

*2008 financial crisis

Obadno · #**9373** Posted **Mar 19, 2020, 8:29 PM**

Quote:

Originally Posted by CB1

I remember the days during the 2008 financial when the West 6 towers were 90% completed and then sat vacant for years. Hopefully that doesn’t happen again.

See but in 2008 the financial institutions pulled money and demand collpased.

The demand is still there now, its all just waiting to be restarted. 90% of this is related to voluntary closures and suspensions not any issue in the demand for housing or office space.

combusean · #**9374** Posted **Mar 19, 2020, 8:46 PM**

The shelter-in-place Order that I and about 7 million others are under qualifies housing construction as an essential activity. So you can't go to the gym but can certainly report to work at the job site.

biggus diggus · #**9375** Posted **Mar 19, 2020, 9:15 PM**

Quote:

Originally Posted by Obadno

See but in 2008 the financial institutions pulled money and demand collpased.

The demand is still there now, its all just waiting to be restarted. 90% of this is related to voluntary closures and suspensions not any issue in the demand for housing or office space.

This very likely will affect demand for housing and office space long term. It's unclear both how long this will last and what will come of it when it's all done. I believe anyone who hasn't started obtained funding already will be canceling their project.

CB1 · #**9376** Posted **Mar 19, 2020, 10:46 PM**

Quote:

Originally Posted by biggus diggus

This very likely will affect demand for housing and office space long term. It's unclear both how long this will last and what will come of it when it's all done. I believe anyone who hasn't started obtained funding already will be canceling their project.

I agree that it will be long term but I hope I’m wrong. We will probably have the biggest job drop this month in US history. Once one big domino falls in the economy then it’s one after another. I would hate to see Tempe’s construction become stagnant. Let’s see what happens.

IndyAZ · #**9377** Posted **Mar 20, 2020, 1:32 PM**

Quote:

Originally Posted by Obadno

See but in 2008 the financial institutions pulled money and demand collpased.

The demand is still there now, its all just waiting to be restarted. 90% of this is related to voluntary closures and suspensions not any issue in the demand for housing or office space.

I agree with Obadno, I have not seen any pull back from developers on any projects thus far. Contrarily, I have about 5 new mid rise and high rise projects that are just starting now (closing on land) and the none of the developers seem worried. They realize it could be a slower process the next couple months, but feel confident in the underlying metrics of the economy and the lenders are still willing to finance these deals.

It will probably be a bump and slow going for a little while, but we should hopefully recover well.

CB1 · #**9378** Posted **Mar 20, 2020, 3:04 PM**

Quote:

Originally Posted by IndyAZ

I agree with Obadno, I have not seen any pull back from developers on any projects thus far. Contrarily, I have about 5 new mid rise and high rise projects that are just starting now (closing on land) and the none of the developers seem worried. They realize it could be a slower process the next couple months, but feel confident in the underlying metrics of the economy and the lenders are still willing to finance these deals.

It will probably be a bump and slow going for a little while, but we should hopefully recover well.

Thanks for the insight.

ASU Diablo · #**9379** Posted **Mar 23, 2020, 1:56 AM**

Quote:

Originally Posted by ASU Diablo

Does anyone find it strange that no recent updates have been provided regarding the remodel for Desert Financial Arena (aka The Bank) or any news around the multi-purpose/hockey arena that's supposed to be built right next to it?

So I heard a rumor on a Sun Devil message board I frequent that has a lot of connected alumni, some specifically to the ASU Hockey Program. So the latest rumor is the arena will be built on the former Packard Stadium site, SWC of Rio Salado and Rural. Obviously, some major impacts here to the proposed master plan of the Novus Corridor by Catellus. Has anyone heard any possible rumblings about this?

Well looks like the rumors were spot on! No longer going to be attached to The Bank and instead will be north of the current parking garage on 6th St and Packard Dr. I'm glad the seating capacity is large than originally stated but would've been cool if it would've been the rumored 4,242 number.

Quote:

Arizona State has revamped its plan for a new multi-purpose arena, now no longer tied into a renovation of Desert Financial Arena and to be located in a new location.

ASU submitted an amended capital development plan to the Board of Regents finance committee, asking that its plan for a $120-million project to build an arena to be used by hockey and other sports and a separate Olympic sports training facility be forwarded to the full board for approval.

The next full Regents meeting is scheduled for April 2-3 in Tucson. If approved, the project construction start is scheduled for November 2020 with completion in August 2022. ASU's new plans to renovate Desert Financial Arena is not yet known.

In early 2018, ASU received Regents approval for a $160-million project to renovate Desert Financial Arena and build an adjacent multi-purpose arena. That project since was determined not to be "cost effective from a shared infrastructure and location perspective," ASU said in its amended plan.

In May 2019, ASU began accepting proposals to design, construct and operate a stand-alone arena. That process led to the new project and selection of Sun Dev Partners as the developer in conjunction with Mortenson Development. Mortenson currently is building a 259-room hotel in ASU's Novus Innovation Corridor at Veterans Way and Sixth Street.

The new athletic project would build a 5,000-seat arena on the east side of Packard Drive, north of the parking structure at Packard Drive near Sixth Street. The location is adjacent to Sun Devil Track Stadium.

In addition to hockey, ASU gymnastics and wrestling would compete at the new arena. Volleyball and women's basketball also could be played there although the original plan was for those sports to continue at Desert Financial Arena.

It will include two sheets of ice to be used not only for ASU practices but by regional youth and adult hockey clubs for practice and competition.

The arena would include 20 private suites, nine loges and two group suites as well as premium seating on the event level. The location is designed to integrate with retail planned in the Novus corridor.

The Olympic sports training facility would be in the athletic village east of Rural Road, renovating, connecting and expanding the current wrestling and gymnastics training facilities.

The project is to be financed through bonds over a 30-year term, using facility revenue, donations and athletic facility district revenues to fund the debt service.

ASU is proposing that Spectra (Global Spectrum) manage the arena and training facility with the ability to use both for other events such as concerts, athletic tournaments, eSports competitions, family programs and instructional clinics.

Spectra would be responsible for operational and maintenance costs at the arena. ASU would pay for additonal operating and maintenence cost for the training facility, estimated at $201,000 annually to be funded by ASU auxiliary revenue.

In Arizona, Spectra manages Salt River Fields at Talking Stick and Hohokam Stadium. It has 750 venue management clients including such college as Florida State, Texas Tech, Colorado State, Vanderbilt, Wake Forest and Central Florida.

Mr.RE · #**9380** Posted **Mar 25, 2020, 5:23 PM**

https://app.oxblue.com/open/mccarthy/mirabella

Just noticed they took down the scaffolding for the Oliv Tempe project on the south end but isn't the exterior color supposed to be red/black on all sides and not white?