Posted Feb 6, 2024, 4:16 PM
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Modulator
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Join Date: Nov 2013
Location: Phoenix, AZ
Posts: 4,513
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This is the old auto shop on the NE corner of Central and Garfield. Originally, the development was proposed to include elements of the shop. But it looks like this will now be a clean slate without any of the auto shop being re-used. This is the same company behind Rainbow and Manzana and they will be going for a height limit increase from 250' to 325'.
Quote:
Mixed-use project with 30-story tower could rise in Roosevelt Row
By Audrey Jensen – Reporter, Phoenix Business Journal
Feb 6, 2024
Updated Feb 5, 2024 10:30pm MST
A national firm that has been expanding its presence in the Valley has proposed a 30-story mixed-use tower in the Roosevelt Row area of downtown Phoenix.
Florida-based Mainstreet Capital Partners wants to build a 463,198-square-foot multifamily building with amenities, retail and restaurant space at the northeast corner of Central Avenue and Garfield Street.
It will include 297 apartment units, 8,069 square feet of ground-floor market and restaurant space and 142 parking spaces along the existing Valley Metro light rail line.
Mainstreet Capital Partners did not immediately respond to a request for comment on the project.
The development will be part of a Roosevelt Row block that contains the Roosevelt Community Church, a fitness studio and lounge and a closed-down auto shop. The former auto shop building will be replaced by the new development, according to site plans submitted to the city.
The half-acre site is owned by KDCD LLC, an entity connected to Kell Duncan, co-founder of The Churchill retail center just east of the site that's made out of shipping containers.
Elsewhere in the Valley, Mainstreet Capital Partners has proposed 75 boutique apartment units at a large Camelback office complex. The project will replace an existing parking garage at the Camelback Lakes office complex at Camelback Road and 26th Street.
Mainstreet Capital Partners also acquired the LINK creative office complex along 7th Street in 2019 in Phoenix and invested $12 million in renovations to link the two buildings with a three-story glass structure that houses a coffee shop, cocktail bar and eatery, according to its website. The facility is located at 711 E. Missouri Ave.
Developer seeks to change height, density for project
The architect for the Mainstreet project in Roosevelt Row is listed in site plans as Shepley Bulfinch, which applied with the city to change the permitted height and density within a portion of downtown.
If approved, the change would increase the allowed height of buildings from 250 feet up to 325 feet, or a 30% increase, as well as an increase of up to 50% for allowed density, according to city documents. Mainstreet Capital Partners could then build a 30-story tower and increase the total number of units from 218 to 297.
The change would only be permitted in the area if a project provides community benefits and sustainable features, according to city documents. This would also allow for a transition between the area south of the site, which allows up to 525 feet, and the area north of the site, which allows up to 250 feet, the documents noted.
If approved, the height change would also apply to a larger portion of the light rail corridor between Portland and McKinley streets, and between two alleys nearby 1st Street and 2nd Avenue in downtown Phoenix.
This portion of downtown comprises a few blocks of existing and proposed projects, along with several parcels that were recently acquired by Phoenix-based developer Intersection Development.
Intersection Development is behind several projects in the area including a planned Mario Kart-inspired apartments in Roosevelt Row and the proposed Manzana boutique apartment complex in the same area.
The height changes would also apply to a site containing a portion of a 23-story apartment tower called Saiya, which is being developed by Atlanta-based Hatteras Sky and JE Dunn Construction at First Avenue and McKinley Street in Roosevelt Row.
Recently, JE Dunn celebrated the topping out of the Saiya project, which will feature 389 units and 12,550 square feet of street-level retail space.
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Source: Phoenix Business Journal: https://www.bizjournals.com/phoenix/news...capital-downtown-phoenix-apartments.html
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