Phoenix Development News (3)

[biggus diggus]

This went up today:

[combusean]

^ Needs more dirt.

[biggus diggus]

its been like that for months, too! I'll be glad to see it gone, the began hauling it out today. It's the dirt from the dig at Union Apartments.

[combusean]

I thought Phoenix was much more strict when it came to hauling and plopping dirt around town.

Apparently not.

[SunDevil]

Fencing went up around that 3rd st. and Thomas project. Don't recall the name. A lot of demo needs to be done before ground can be moved.

[nickw252]

Condos plus 2 new 6-floor buildings doesn't sound too bad.

http://m.bizjournals.com/phoenix/new...ld-psycho.html

The city of Phoenix has picked a condominium development proposal in its latest bid to redevelop the Barrister Place Building in downtown Phoenix.

The building was long home to the Jefferson Hotel and was featured Alfred Hitchcock’s 1960 movie “Psycho”.

A city panel is recommending an 88-unit condo proposal from Scottsdale-based Crescent Bay Holdings for redevelopment of the Barrister property at Jefferson Street and Central Avenue next to Talking Stick Resort Arena.

“We’re really excited about the project,” said Geoff Beer, a principal with Scottsdale-based Crescent Bay.

Beer said plans calls for construction of two new six-story buildings to go along with the six-story, 100-year-old Barrister building. The Jefferson Hotel/Barrister building was built in 1915.

Beer expects condos to be priced between $250,000 and $650,000 with an average unit size of 1,170 square feet.

He said Crescent’s bid calls for buying the city owned building for $2.28 million. It will also include some ground level retail and restaurant space.

Crescent bid before on the Barrister building. The city went with a bid in a previous RFP from P.B. Bell Cos. and Davis Enterprises. That plan called for apartments but the groups could not secure necessary financing to close the deal. Those groups were part of separate bids this go around.

The city of Phoenix put out a new RFP for the Barrister property this summer.

It received eight bids.

Those were narrowed to a short list of three including Crescent.

Another bid from Warehouse District developer Michael Levine and Westroc Hospitality LLC looked to develop a hotel on site. Another finalist was a bid from Vancouver-based group called Jamal Holdings (US) LLC.

The deal must still be approved by the Phoenix City Council and Crescent has to buy the property. Beer said construction could start during the second half of next year.

[Obadno]

Originally Posted by nickw252

Condos plus 2 new 6-floor buildings doesn't sound too bad.

http://m.bizjournals.com/phoenix/new...ld-psycho.html

3 six story buildings and its only 88 units?

[PHXFlyer11]

Originally Posted by Obadno

3 six story buildings and its only 88 units?

This is terrible. The buildings all being 6 stories is going to make Barrister blend in. Also, no ground floor retail. Garbage proposal. WTF is the city thinking.

[PHXFlyer11]

http://www.bizjournals.com/phoenix/n...ding-labs.html

This is also very interesting. I think the City is going to try and sell this, along with the Sheraton in ordering to partially fund a new Suns/Yotes Arena.

[nickw252]

Originally Posted by Obadno

3 six story buildings and its only 88 units?

My initial reading of that was 88 units in just the Barrister building. However, given that the average size will be over 1,100 sq ft, that may be 88 units total. If so, I agree, 88 units total in all 3 buildings is not great.

[nickw252]

Originally Posted by PHXFlyer11

This is terrible. The buildings all being 6 stories is going to make Barrister blend in. Also, no ground floor retail. Garbage proposal. WTF is the city thinking.

The article said ground floor retail in the Barrister Building. I'm not too concerned about the rest of the proposed buildings lacking ground floor retail. We don't need ground floor retail in every building.

[PHXFlyer11]

Originally Posted by nickw252

The article said ground floor retail in the Barrister Building. I'm not too concerned about the rest of the proposed buildings lacking ground floor retail. We don't need ground floor retail in every building.

I must have skimmed too quickly. I agree, don't need retail everywhere, I'm happy as long as there's one small retail spot on that corner.

[biggus diggus]

Originally Posted by PHXFlyer11

http://www.bizjournals.com/phoenix/n...ding-labs.html

This is also very interesting. I think the City is going to try and sell this, along with the Sheraton in ordering to partially fund a new Suns/Yotes Arena.

It sure would be nice if phonics could get a deal done for a new arena.

[Obadno]

Originally Posted by biggus diggus

It sure would be nice if phonics could get a deal done for a new arena.

Id rather just a remodel, with talking stick recently acquiring the naming rights, Coyotes trying to get the hell out of Glendale and the Suns wanting a new one I think we might have a good chance of a new one or a revamp.

If it is a new one I hope they do the mall idea in the old stadium, IDK why but I like that.

[biggus diggus]

I don't want to start any rumors or get anyone excited here because this is speculation:

The city is going to be shutting down the rail yard on 9th Street, they are currently in negotiations. The idea is for redevelopment of the area, there's at least one guy buying buildings up and down Jackson not only to expand his own offices but create others. He's getting the two produce buildings, Willie Itule and Peddler's Son.

He's the speculative part, could the timeline work to free that land up for an arena? Currently the word is housing and creative type office.

[PHXFlyer11]

Originally Posted by biggus diggus

I don't want to start any rumors or get anyone excited here because this is speculation:

The city is going to be shutting down the rail yard on 9th Street, they are currently in negotiations. The idea is for redevelopment of the area, there's at least one guy buying buildings up and down Jackson not only to expand his own offices but create others. He's getting the two produce buildings, Willie Itule and Peddler's Son.

He's the speculative part, could the timeline work to free that land up for an arena? Currently the word is housing and creative type office.

Are you suggesting the new arena could be on 9th street? I can't see it. I think it goes on the current Civic Center site, as previously suggested. I don't think it'd be outside the 7s. 7th st creates a huge physical and physiological border, and I think it would hurt development and business between the 7s (like Cityscape). I do love the idea of redevelopment there though. 5-10 story housing with some small retail space and creative spaces would be wonderful in that area.

[biggus diggus]

If the land will be available and it can tie into the baseball stadium I don't see why it doesn't become a tempting option. There are many cities that have recently built stadiums where they could find room on the outskirts of downtowns, it wouldn't be a strange thing to happen.

[combusean]

This could be absolutely huge for downtown if this were the case. Denver and San Francisco have done insanely good jobs at redeveloping their yards into brand new neighborhoods. UP has every interest in seeing the sale price of their land is as high as possible as it did in SF's Mission Bay through a subsidiary.

A new neighborhood adequately planned without the highrise zoning that plagues Phoenix lots and anchored by a new arena is the sort of thing that turns heads when it comes to development, especially when it's adequately planned and entitled and there's already a "there" not quite there but nextdoor...

I noticed TGen is up for sale. I think the line item in whatever account it is in Phoenix's budget that pools all the money from GPLET revenue to likely these two items is going to see a *lot* of traction soon.

Dare I welcome Central Phoenix 2.0.

[Obadno]

What happens to the rail traffic that uses the yard/ passes through the yard?

[biggus diggus]

The tracks would not disappear, there would still be through traffic, just no loading and unloading space.

This isn't a done deal (though it sounds very likely) so don't get too far ahead with it.