Tempe Development Thread

[PHX31]

It's not out of the question. It's not like they purchased it for $43 million, then turned around and sold it for $103 million. They built the place for $43 million... there should be some decent profit to be made when you build something yourself and then sell it.

[Arquitect]

Originally Posted by phoenixwillrise

Am I the only one or does it strike anyone else as odd that this 19 story building was built for 40 million and the rehab of 17 story Manzanita was rebuilt for an alleged 50 million. In this a case of the tax payer getting hosed yet once again?

And beyond the things that phxSUNSfan stated, the quality of construction is much better at Manzi. The GC of the Hub was a joke, they only really cared on making the product as cheap as possible. In the other hand, Manzi focused on quality.

If you ask me, you can actually really see the difference as you drive by. Even the quality in the stucco work is pretty obvious from afar.

[phxSUNSfan]

Originally Posted by Arquitect

And beyond the things that phxSUNSfan stated, the quality of construction is much better at Manzi. The GC of the Hub was a joke, they only really cared on making the product as cheap as possible. In the other hand, Manzi focused on quality.

This is true for the exterior elements. Although the windows and stucco turned out nicer than I had expected, the poured concrete shell was solidly built (of course they have to meet strict guidelines in that aspect). When time comes, University House (The Hub) can be gutted and new exteriors added. Look at the turnaround for the One Lexington condos on Central. It was a 70's bank building with an ugly exterior but after it was stripped down to the concrete shell, the new glass façade made for a completely different looking building.

[cygnusloop99]

Originally Posted by phxSUNSfan

That is what I meant to ask about the development. I don't know if SRP will be moving, or would be willing to move, those lines that are over part of lot 59N ... soon to be Marina Heights. If they move those lines by burying them it will be great for the views from anywhere on Town Lake and Rio Salado. I am sure it would be an expensive relocation since those are some big power lines overhead.

It takes a lot of work to relocate high voltage power lines. They are usually in an easement and getting a new one dedicated would be difficult and take time. The best SRP has done in the past is bury them (in the existing easement) but they have only done it to the line that runs east-west along Rio Salado. It goes underground at some pylons on the north-west side of SDS and then daylight at Rio and Priest. If you look up the site plan for Marina Heights, you can see that the easement makes a big impact on the east side of the site and makes any additional development on the NEC of Rio and Packard nearly impossible. I would assume this is also the case for the trashy lot on the NEC of Rio and Rural as well. It will be interesting to see how ASU addresses this major hurdle as they push their stadium development district.

[Spitfiredude]

I understand. I still think its just a lot of money on the return. It's not really that impressive of a building. As far as location, Marina Heights has nothing to do with this building since its student only.

[phxSUNSfan]

Originally Posted by Spitfiredude

I understand. I still think its just a lot of money on the return. It's not really that impressive of a building. As far as location, Marina Heights has nothing to do with this building since its student only.

It really doesn't have much to do with the "impressiveness" of the building but the expected revenues and future profits. Marina Heights has much to do with the building, in terms of value, since it affects further development and will add to the amenities in the area. Remember, Marina Heights will be adding a retail element so there will be more choice in the vicinity which makes the property more marketable in the future for its current owners.

@cygnusloop99, that is what I was thinking about the lines. It would take a massive amount of work to bury them now. Although it would make sense to bury them along with the construction of the streetcar route (I am confident the city will built the line along Rio). Or, I wonder if the university and SRP have discussed moving them ... say when ASU's Eco/Sports Facility District is constructed and Packard is demoed. It would make sense to bury them under the existing stadium and beyond Rural. When the Golf Course if removed it would then make sense to also place the lines underground. All I know is that I hate those lines and wish they would have buried them long ago.

[cygnusloop99]

Now that Core Campus has run this model successfully (twice!!), I think within the next 2 years they will build another student housing complex near ASU to sell off. The question is when will the supply outnumber demand in DT Tempe?

[Spitfiredude]

Originally Posted by phxSUNSfan

It really doesn't have much to do with the "impressiveness" of the building but the expected revenues and future profits. Marina Heights has much to do with the building, in terms of value, since it affects further development and will add to the amenities in the area. Remember, Marina Heights will be adding a retail element so there will be more choice in the vicinity which makes the property more marketable in the future for its current owners.

Good point, I forgot about the retail. It's still the ugliest high rise building I've seen. My coworkers all agree. The sad part is we have to open our windows at work to it everyday. I hate it. Has anyone seen the units on their Facebook. That floor in the bedrooms is horrid.

[Arquitect]

Originally Posted by cygnusloop99

Now that Core Campus has run this model successfully (twice!!), I think within the next 2 years they will build another student housing complex near ASU to sell off. The question is when will the supply outnumber demand in DT Tempe?

Actually, Core Campus is not planning on doing any more work in AZ after they finish their latest project down in Tucson. They are moving on to other big university towns.

Although, I can see other companies following the same model.

Even though these are being developed towards student, they are actually just marketed that way. I am sure that we will see some of these will be marketed as regular apartments as the demand increases.

[phxSUNSfan]

Originally Posted by cygnusloop99

Now that Core Campus has run this model successfully (twice!!), I think within the next 2 years they will build another student housing complex near ASU to sell off. The question is when will the supply outnumber demand in DT Tempe?

Probably not ... ASU requires all freshman (with some exceptions) to live on campus and I've heard they might include sophomores in the future in order to increase retention rates and student success. After the freshman were required to live on campus, retention rates increased dramatically. Although I am not sure if these properties are considered "on-campus housing" even though they are on ASU owned land and therefore, are on campus. True on-campus housing probably consists of ASU managed dorms with RA's and ASU staff. As Arquitect mentioned, these are not exclusive student housing projects and non-students can sign a lease. If you look at Roosevelt Point in downtown it has attracted young professionals and not just students.

Spitfire, The Hub is probably the most "polarizing" building in terms of its appeal. I think I have heard an equal amount of nays and yeas. Younger people seem to like it better than the older crowd. Aren't the floors in the building a wood or wood laminate finish? They don't have real pictures on their site but the renderings don't look bad.

[Spitfiredude]

No, bedroom floors in the actual finished units on their Facebook page. I'm at Camp T so I don't really have potential to post a photo.

[phxSUNSfan]

Originally Posted by Spitfiredude

No, bedroom floors in the actual finished units on their Facebook page. I'm at Camp T so I don't really have potential to post a photo.

Have fun at Camp T! I am hoping to make it up there tonight with some friends to catch the scrimmage tomorrow morning ... and I really want to go cliff-jumping at Tonto Creek!

I found some on the internet. The pool area looks awesome! They are the wood floors seen in the rendering in the studios and in the common areas (kitchen, living room, bathrooms, etc.) and some bedrooms have funky carpeting (not a fan):

[Arquitect]

Originally Posted by phxSUNSfan

Some bedrooms have funky carpeting:

Most bedrooms and all the hallways have that hideous carpet. Not sure what they were thinking.

[FitnessPower]

I wonder if this sale of the Hub/University House makes the 2nd tower more or less likely?

[phxSUNSfan]

Originally Posted by Arquitect

Most bedrooms and all the hallways have that hideous carpet. Not sure what they were thinking.

If I lived there I would definitely be covering my bedroom floor with a rug. It's distracting, too busy. The hallways in the upper floors? Looks like the main floor and elevator areas are wood.

[Arquitect]

Originally Posted by FitnessPower

I wonder if this sale of the Hub/University House makes the 2nd tower more or less likely?

As I wrote here earlier, the second tower is happening, for sure. We will probably see it going through the city soon. It is a bit late for it to open up by fall semester of 2014; so in all likelihood we will see something opening 2 years from now.

Originally Posted by phxSUNSfan

If I lived there I would definitely be covering my bedroom floor with a rug. It's distracting, too busy. The hallways in the upper floors? Looks like the main floor and elevator areas are wood.

Yeah, all the floors besides the 1st floor and the amenities area, which I believe is on the 4th floor.

[Arquitect]

Cool little article about the project going up on Farmer and 5th Street, adding to Architekton's offices, and how light rail is such a big component of increasing density in Tempe:

“We’re just about doubling the size of our building,” says Doug Brown, principal with Tempe-based Architekton. “With parking credits from light rail, we’re able to increase our floor space substantially.”

Architekton shares its current 13KSF space with Zion & Zion, a marketing and advertising agency, 464 S. Farmer Ave. Space eaten by 55 parking slots limited site development in the downtown location.

Taking advantage of reduced parking requirements with light rail, bicycle, and alternative transit options in downtown Tempe, the design firm had opportunity for more square footage and put on an addition.

Adding just 17 parking spaces, the Farmer Studio grows by 11KSF, increasing the office suites to 24KSF.

Since light rail’s debut, businesses—particularly in Tempe—have been taking advantage of the ability to build more with less land taken up by parking spaces. Reducing parking area is important for developing small lots and low- and mid-rise office development. Architekton’s Farmer Studio II is such a manifestation.

Source: http://azbex.com/local-professionals...emphasizes-s/#

[MegaBass]

Cady/Orange PowerParasol (photo source)

[Leo the Dog]

Originally Posted by MegaBass

Cady/Orange PowerParasol

Is this a shade structure along Orange and Cady malls? I'd like to see what the finished product is.

[ASUSunDevil]

Originally Posted by Arquitect

Cool little article about the project going up on Farmer and 5th Street, adding to Architekton's offices, and how light rail is such a big component of increasing density in Tempe:







Source: http://azbex.com/local-professionals...emphasizes-s/#

No windows?