Tempe Development Thread

[DevilsRider]

Originally Posted by ASUSunDevil

Great news besides the name. Salt? Sounds like a Sam Fox restaurant, not high end apartments.

Yeah, very odd name choice. I'll look back through Development Review tomorrow, but does anybody have a site plan link on hand? Interested to see how it does (or doesn't) interact with the lakefront.

Also, hopefully they put up a construction camera, I can add it to Hayden Ferry and Marina Heights in my rotation!

[rocksteady]

Originally Posted by DevilsRider

Yeah, very odd name choice. I'll look back through Development Review tomorrow, but does anybody have a site plan link on hand? Interested to see how it does (or doesn't) interact with the lakefront.

Also, hopefully they put up a construction camera, I can add it to Hayden Ferry and Marina Heights in my rotation!

Def sounds like a restaurant name, although they likely had the river that used to flow in front of it in mind.

[Jjs5056]

Originally Posted by DevilsRider

Yeah, very odd name choice. I'll look back through Development Review tomorrow, but does anybody have a site plan link on hand? Interested to see how it does (or doesn't) interact with the lakefront.

Also, hopefully they put up a construction camera, I can add it to Hayden Ferry and Marina Heights in my rotation!

This is the best site to get a sense of how the development will turn out: unfortunately, the plaza that connects Rio to the lake won't contain any retail; but, this is the way all developments should've addressed the challenge, IMO. Very unique approach, and could've provided a Riverwalk-like experience if developments all had these plazas with boutique shopping and restaurants.

http://www.olivermcmillan.com/places/projects/14/salt.html

[azsunsurfer]

The new Apache Villas/ Meridian project is much better designed now. I think this style of architecture is an improvement over that garden apartment monstrosity that was originally approved.

[PHXFlyer11]

http://www.bizjournals.com/phoenix/news/...atellus-development-the-nod-for-330.html

Apparently news conference is underway...

[MegaBass]

Originally Posted by PHXFlyer11

http://www.bizjournals.com/phoenix/news/...atellus-development-the-nod-for-330.html

Apparently news conference is underway...

ASU announces Catellus as Athletic Facilities District master developer

ASU president Michael Crow announced Wednesday at a news conference that mixed-use developer Catellus will be the master developer on the new Athletic Facilities District.

The Sun Devil Stadium renovations are still “priority No. 1,” University executive vice president Morgan Olsen said. But nobody was discounting this project.

President Michael Crow likes that there isn’t just one piece to this project, but that it accomplishes three things at once: “the development of world class amateur athletic facilities,” “urbanization and economic development of downtown Tempe,” and “the demonstration of how to build a sustainable city.”

Crow believes this project will foreshadow future cities in the U.S., featuring sustainability as a No. 1 priority.
The timetable — 10 to 20 years — is similar to another project Catellus is in the middle of: the renovation of the Austin, Texas, airport into a living community. Catellus executive vice president Greg Weaver heads that project, and he will head the project in Tempe, too. The company likes that Austin and Tempe present similar challenges and qualities.

“In the city of Austin, you have strong neighborhood groups and strong stakeholder groups,” Weaver said. “Here, in the city of Tempe, you have ASU, the athletic supporters, you have the foundation and things like that. You’ve got to build a consensus on the game plan and ultimately the master plan. In Austin, we did a lot of that.”
In Austin, that timetable ended up being accurate. Catellus is currently in year 12 of that project, and Weaver expects it to be completed in three years.

In 2010, a business fee was approved to help fund the renovations of Sun Devil Stadium, including the surrounding area, and help build the Athletic Facility District.

The Athletic Facilities District will encompass land already owned by ASU just south of Tempe Town Lake. The University hopes to take advantage of underutilized land, where there is currently a parking lot and the soon-to-be abandoned Karsten Golf Course. However, that course won’t be torn down until it absolutely has to, Crow said Wednesday. When it is, though, ASU will have a top-notch course to replace it. Crow said they have a plan and are working toward a “better golf course than we have.”
ASU also partnered with State Farm to rent out office space to the north of Sun Devil Stadium, near lot 59. That construction is already underway. Crow mentioned the State Farm partnership multiple times throughout the event and thinks both will have positive impacts on ASU and Tempe.

Catellus presents an impressive portfolio of past projects. Its resume includes Union Station in Los Angeles, Mission Bay in San Francisco and the Los Angeles Air Force Base. It primarily works in California, though it has done projects in Colorado, New Jersey and Illinois. This will be its first undertaking in Arizona.

It is run by President and CEO Ted Antenucci, who rejoined the development company in 2011. He previously served as Executive Vice President at Catellus from 1995 to 2005, before joining another developer, ProLogis, as President and Chief Investment Officer.

The University hopes for The District to become a money-maker that can help fund athletics, rather than take that money away from education or get it from new fees.

[phoenixwillrise]

Originally Posted by MegaBass

ASU announces Catellus as Athletic Facilities District master developer

The sleeping Giant has been slowly awakening. This will in time take it's sports progams to a whole new level.

[DevilsRider]

Very exciting! Here's hoping they will start with the two lakefront lots bordering Rural Road, along with the section fronting Rural near University. It would be nice to see Karsten's developed last as mentioned in the article, since there is so much parking lot space to convert first!

Interesting that the old frat row is not part of the district. That lot is in the Tempe Campus Master Plan as "Mixed use Transit Oriented Development (TOD)"...maybe they just plan on developing that area separately, or eventually repurposing it for research/classrooms/etc.

Originally Posted by MegaBass

Originally Posted by phoenixwillrise

The sleeping Giant has been slowly awakening. This will in time take it's sports progams to a whole new level.

[azsunsurfer]

ASU has had a project slated for that corner. I think that ASU envisions that project to be ASU/ Student oriented and the "district" is suppose to be market/ general population oriented.

[Classical in Phoenix]

Is the lakefront portion east of Scottsdale Road, that is not included in the project, the property that was recently announced as a possible hq for a multinational firm, or something to that effect?

[DevilsRider]

Originally Posted by Classical in Phoenix

Is the lakefront portion east of Scottsdale Road, that is not included in the project, the property that was recently announced as a possible hq for a multinational firm, or something to that effect?

Yes, that is the area and proposal you're thinking of. Most of the parcels in that area were part of the proposed Tempe land sale for the multinational HQ and other things. A few other parcels in that area are owned by other entities with on-and-off proposals for multi-family, restaurants, senior living, etc.

[Classical in Phoenix]

Thanks!

[PHXFlyer11]

Speaking of which...

What were the dates the sale was to be completed and what ever happened at the follow-up council meeting? It's been very quiet on this front.

[azsunsurfer]

I know they are in their 120 day period to finalize the conditions of the sale. I believe they said the deal of the sale would be brought up at a later date at a council meeting. They are probably working out some logistics (i.e. we can deliver this much of office space by x date, etc) I know there was talk that they were working out the tax abatement which is being danggled to closed the deal.

[azsunsurfer]

The more I think about it....there is going to be so much competition with this project and various other developments around Tempe. So many other projects (i.e. various residential projects downtown/ apache/ USA Place/ Mill & Rio, Pier 202) all advertise hotel/ office/ residential components. They are probably further ahead then this project will be. I just hope this doesn't turn into an extension of the ASU campus which I assume it will. However, given our weak and fragile economy I don't see how they will be able to have that kind of demand for the time being....even looking at a 20 year time frame. That's just my thought.

[PHXFlyer11]

Originally Posted by azsunsurfer

The more I think about it....there is going to be so much competition with this project and various other developments around Tempe. So many other projects (i.e. various residential projects downtown/ apache/ USA Place/ Mill & Rio, Pier 202) all advertise hotel/ office/ residential components. They are probably further ahead then this project will be. I just hope this doesn't turn into an extension of the ASU campus which I assume it will. However, given our weak and fragile economy I don't see how they will be able to have that kind of demand for the time being....even looking at a 20 year time frame. That's just my thought.

I agree. This doesn't really excite me. It's positive, but I don't have lofty short term hopes here. BUT it could become attractive if the tax breaks, lease deals, alternative energy, sustainability are truly game changers. If so, this could become really cool.

If I were Tempe and ASU I would go to the following companies and present the entire package of tax breaks, sustainability, etc to some leading companies to try and get an anchor for this thing. I'd look to Apple, Amazon, Netflix, Google, Tesla, Alibaba to see if one of them could be lured to open an office.

Also, let's emphasize our strengths, I'm sure solar will be big, but we are also a great area for datacenters. I'd target a green datacenter as part of this development with many local companies already in the mix like IO and Limelight.

[azsunsurfer]

Again not to rain on anyone's parade. Even if we saw some explosion in investment for alternative engery....I don't see that kind of office demand being there for that much sqft. that's slated. I am not sure those companies you mentioned would do more than open a soft regional presence at best...they are all heavily invested in the Pacific Northwest/ California.

So ASU wants to grow their endowment and attract research and development? That's great...but PHX is in the process of developing a second BioMedical Campus up north which ASU has agreed to partner with as well. Again not trying to be negative but I really don't see the demand for this. Especially when land on the fringes is relatively cheap (although Tempe is the center of the hour glass of the valley and demand will probably always be present). Again like the Datacenters...I've notice most of them have opened in S. Chandler (again another high tech/ corporate hub that this project is going to compete with). Again I feel in this day in age of Austerity and "do more with less" it's going to be hard to develop. If I were this developer and ASU (and I know this sounds far fetched) but I would partner with other research schools/ universities possibly a medical school and try to go that route. If ASU seeks institutions that don't necessary step on their toes, they could build some collabortive effort per se and possibly continue to boast residential demand in urban Tempe. Sorry I'm starting to sound like JJ lol.

[Jjs5056]

Originally Posted by PHXFlyer11

Speaking of which...

What were the dates the sale was to be completed and what ever happened at the follow-up council meeting? It's been very quiet on this front.

^ Won't comment on the ASU Stadium District since obviously that's not wanted, but this link should give you more details on the Pier 202/SouthBank parcels PHXFlyer:

http://www.azcentral.com/story/news/loca...-incentive-town-lake-land-sale/16557673/

There is also a link within the article to another story regarding the development.

[alexico]

anyone have an idea on the rent cost at Hanover?

[PHXFlyer11]

http://www.bizjournals.com/phoenix/news/...-phoenixs-high-tech.html?s=image_gallery

Interesting that Amazon does have a token office in downtown Tempe apparently. Too bad we can't get these companies to the cores of Tempe and Phoenix.