Phoenix Development News (3)

[exit2lef]

Originally Posted by airomero83

The prime piece of land at Central Ave & Indian School is finally up for sale and will be auctioned off by the Federal Government. Hopefully, it will get bought by someone with an intent to develop it right away instead of sitting on it for years.

http://downtownphoenixjournal.com/20...oots-for-sale/

I'd love to know more about the lawsuit and the settlement. For almost three decades, I've been hearing that Barron Collier was going to eventually develop that land in a big way. I wonder what happened to cause it to revert to the federal government.

Originally Posted by biggus diggus

Hopefully someone is interested in developing this as a large-scale mixed use development. Something on a smaller scale but similar concept to Scottsdale Waterfront could do very well here. Open it up to the park and allow retail along the roads, dense residential in the center, and upscale lower density town homes against the park with space for cafes. If I had the capital I would take the risk on that sort of development. I would take full advantage of the history of the parcel and play into Indian School history and Native American style architecture.

Also these guys need a new map.

"The 15-acre Uptown Phoenix Parcel is located across from a light rail station, just one block south of the Camelback Road and Central Avenue, which was recently named by the Urban Land Institute of Arizona as one of the Valley’s most lucrative intersections for commercial and residential development."

Yes, it would be nice to have it developed in a way that respected the site's history and exposed the park a bit more. I've always felt that Phoenix got the worst outcome in the three-way land deal that occurred among the feds, the city, and Barron Collier. This might help mitigate that mistake from almost 30 years ago.

I posted a comment about the geographic error. We'll see if it gets fixed.

[muertecaza]

Originally Posted by exit2lef

I'd love to know more about the lawsuit and the settlement. For almost three decades, I've been hearing that Barron Collier was going to eventually develop that land in a big way. I wonder what happened to cause it to revert to the federal government.



Yes, it would be nice to have it developed in a way that respected the site's history and exposed the park a bit more. I've always felt that Phoenix got the worst outcome in the three-way land deal that occurred among the feds, the city, and Barron Collier. This might help mitigate that mistake from almost 30 years ago.

I posted a comment about the geographic error. We'll see if it gets fixed.

A summary of the history of the litigation is detailed in this opinion from Barron's case against the Government in the Federal Court of Claims, as well as this opinion in the Government's case against Barron in Arizona federal court.

From what I can tell, Collier had a $34m note to the Government as a result of the land swap. Collier defaulted in 2012, and tried to give the Government a deed in lieu and just walk away from the property (because the property was apparently worth much less than the balance on the note). Apparently part of the deal was that Collier had an obligation to put up government bonds as additional collateral if the property ever fell below 130% of the value of the note. Government sued for specific performance of this obligation.

Unclear from the opinions what the terms of the settlement were, but interesting stuff (for those that find this kind of stuff interesting).

[exit2lef]

Originally Posted by muertecaza

A summary of the history of the litigation is detailed in this opinion from Barron's case against the Government in the Federal Court of Claims, as well as this opinion in the Government's case against Barron in Arizona federal court.

From what I can tell, Collier had a $34m note to the Government as a result of the land swap. Collier defaulted in 2012, and tried to give the Government a deed in lieu and just walk away from the property (because the property was apparently worth much less than the balance on the note). Apparently part of the deal was that Collier had an obligation to put up government bonds as additional collateral if the property ever fell below 130% of the value of the note. Government sued for specific performance of this obligation.

Unclear from the opinions what the terms of the settlement were, but interesting stuff (for those that find this kind of stuff interesting).

Thanks. Given the unimpressive nature of the Collier Center downtown, I can't say I mind having Collier no longer involved with the Indian School site.

[dtnphx]

The understanding was Barron Coller Co. made it clear from the start that the site was a long-term hold (minimum of 20-25 years). The plan was for office, which wasn't good then and isn't a good use now for that area. I'd love the city to extend the park to the corner with tons of trees and maybe a water feature at the corner. It would go a long way in that area. Hopefully the owners of the Bayless site on the NW corner get off their fat asses and redevelop that. It's been sitting like that for decades.

[ASU Diablo]

Copy of the RFP for SEC of Central and Adams.

https://www.phoenix.gov/solicitations/1289

[CrestedSaguaro]

Looks like Union Market is having problems. Behind a pay wall and I'm on my cell phone. Can somebody post the full article?

EXCLUSIVE: Downtown Phoenix Union Market project in limbo after legal disputes

The Union Market Phoenix project has been underway since 2015 on the ground floor and the top floor of the U.S. Bank building at First Avenue and Adams Street.

https://www.google.com/amp/s/www.biz...ct-in.amp.html

[muertecaza]

Originally Posted by RonnieFoos

Looks like Union Market is having problems. Behind a pay wall and I'm on my cell phone. Can somebody post the full article?

https://www.google.com/amp/s/www.biz...ct-in.amp.html

Doesn't sound like the actual retail tenants are being kicked out--it's a dispute between the building owner and Union Market, which had a master lease with the landlord and subleases with the retail tenants.

The owner and president of the downtown Union Market Phoenix is fighting to keep ownership of the multi-tenant cluster of restaurants, bars, cafes, retailers and the Society co-working space he has been working on for two years.

Russell Young, owner and president of Union Market 101 LLC, lost his lease in October and is legally disputing the termination with building property manager ScanlanKemperBard and building owner and landlord USBC Real Estate LLC...

He said his lease was terminated because 50 percent of his tenants were supposed to be open and operating by Oct. 1 on the ground floor. Construction was still ongoing, and no longer was under his control, which held back the opening of restaurants, Young said.

“They’re trying to kick me out and steal all my tenants,” Young told the Phoenix Business Journal Thursday. “Back in May I started having problems with the management, so I hired an attorney. In January, SKB took over the construction responsibilities. They said they had the manpower to finish it faster.”

Charles Ferguson, senior vice president of real estate management for ScanlanKemperBard, confirmed the lease with Union Market 101 was terminated but wouldn't comment on the issue beyond that.

“We are working with their former subtenants to limit the impacts of the master lease termination and to help ensure they are not disrupted pending resolution of their current lease status,” Ferguson said in an email. “As you can imagine these matters are subject to ongoing litigation and I can’t comment more substantively on pending litigation matter at this time.”

...The subtenants of the Union Market received a letter Oct. 30 from USBC Real Estate LLC alerting them of the situation and asking the companies to sign new leases with the building owner.

“Notwithstanding the foregoing, your use and access of the property has not been restricted by landlord at this time,” according to the letter obtained by the Phoenix Business Journal. “Please be advised that landlord will not displace or otherwise restrict you from your ongoing use and enjoyment of your space if you agree to and enter a new agreement directly with landlord substantially on the same terms as your current agreement with Union Market and in form and substance acceptable to landlord within 30 days after the date this notice.”

[exit2lef]

Best line from the article:

"A lobby sign saying 'Any day now' has been up for the past few months."

This has been in "coming soon" status for about two years.

[CrestedSaguaro]

Originally Posted by exit2lef

Best line from the article:

"A lobby sign saying 'Any day now' has been up for the past few months."

This has been in "coming soon" status for about two years.

The restaurant on the SW corner is nearly complete. I'd hate to see this fall through at this point when they are so close to opening.

[combusean]

Originally Posted by exit2lef

Thanks. Given the unimpressive nature of the Collier Center downtown, I can't say I mind having Collier no longer involved with the Indian School site.

Collier Center was just fine when it was built.

Light rail was a long way off, and the highrise code actually had intensity bonuses for interior pedestrian malls instead of street front retail. We've learned from it since and moved on with better planning.

The new apartment tower should improve that block a lot either way.

[Renz]

The Phoenix Business Journal recently posted an article named "New 200-room, 15-story hotel coming to Arizona Center".

Correct me if I'm wrong, but wasn't there an already proposed condominium high rise at that same corner of 5th and Van Buren? The article mentions another 31 story residential tower slated for construction in 2018, but I wasn't sure if it was referring to The LINK at 3rd and Pierce St. Did the ~30 story condos not get approved for the Arizona Center site?

[ASU Diablo]

Originally Posted by Renz

The Phoenix Business Journal recently posted an article named "New 200-room, 15-story hotel coming to Arizona Center".

Correct me if I'm wrong, but wasn't there an already proposed condominium high rise at that same corner of 5th and Van Buren? The article mentions another 31 story residential tower slated for construction in 2018, but I wasn't sure if it was referring to The LINK at 3rd and Pierce St. Did the ~30 story condos not get approved for the Arizona Center site?

See the Arizona Center thread for discussion about this.

[Obadno]

Originally Posted by Renz

The Phoenix Business Journal recently posted an article named "New 200-room, 15-story hotel coming to Arizona Center".

Correct me if I'm wrong, but wasn't there an already proposed condominium high rise at that same corner of 5th and Van Buren? The article mentions another 31 story residential tower slated for construction in 2018, but I wasn't sure if it was referring to The LINK at 3rd and Pierce St. Did the ~30 story condos not get approved for the Arizona Center site?

Youll see that this has its own sub-topic Arizona Center Renovations.

They got new owners in 2015 and have ramping up an expansion, the mall renovations are going on right now and they have started prepping the site for the 31 story condo tower at the corner of 5th and Van Buren.

The Hotel which was also planned is about half a block to the north on the other side of the APS building on a grassy area between the office tower and the center's parking Garage.

This article is the announcement of the actual brand going in and its a nice urban-themed marriot so this is great news. It looks like they'll be doing a bigger better version of the Hampton inn/apartment Tower development on Central and Polk a few blocks away.

[Renz]

Originally Posted by Obadno

Youll see that this has its own sub-topic Arizona Center Renovations.

They got new owners in 2015 and have ramping up an expansion, the mall renovations are going on right now and they have started prepping the site for the 31 story condo tower at the corner of 5th and Van Buren.

The Hotel which was also planned is about half a block to the north on the other side of the APS building on a grassy area between the office tower and the center's parking Garage.

This article is the announcement of the actual brand going in and its a nice urban-themed marriot so this is great news. It looks like they'll be doing a bigger better version of the Hampton inn/apartment Tower development on Central and Polk a few blocks away.

Ah, I've been lingering around the "southwest" threads for about a week now but totally missed that one. It makes total sense now, thank you for clarifying that. Arizona Center sounds like it's coming together quite nicely .

[Obadno]

Originally Posted by Renz

Ah, I've been lingering around the "southwest" threads for about a week now but totally missed that one. It makes total sense now, thank you for clarifying that. Arizona Center sounds like it's coming together quite nicely .

after spending the better part of 20 years as a mall on life support its nice to see.

To be fair between AZ center, Colliers and Cityscape in 2008 there simply wasn't the population or draw to support all the retail, that has changed and by 2020 when all of these new units are open downtown is going to bustle.

[combusean]

They didn't have an anchor tenant for either AZ Center or the Mercado when they opened, the latter lacked parking so did even worse.

The hotel tower and apartments have long been cited as the missing piece. Very nice to see how fast the new owner is moving. Stupid GGP for scratching their ass so long.

[CrestedSaguaro]

Originally Posted by Obadno

after spending the better part of 20 years as a mall on life support its nice to see.

To be fair between AZ center, Colliers and Cityscape in 2008 there simply wasn't the population or draw to support all the retail, that has changed and by 2020 when all of these new units are open downtown is going to bustle.

Bingo! And That's exactly why AZ Center couldn't do it....lack of population Downtown. My, how things are changing

[Classical in Phoenix]

Ground broke this week on PHXs new controversial 19-story high rise. Story to come #cronkitenews https://t.co/lzzA8NUwxt

Does anyone know anything about this? The original tweet said this was an office building that would tower over everything next to it.

[Obadno]

Originally Posted by Classical in Phoenix

Ground broke this week on PHXs new controversial 19-story high rise. Story to come #cronkitenews https://t.co/lzzA8NUwxt

Does anyone know anything about this? The original tweet said this was an office building that would tower over everything next to it.

Well she has her info wrong, that is the Link, its 30 stories not 20.

She must be confusing it with Derby.

[Obadno]

THE LIST:

High rise
Block 23- 17 story apartments under construction
Block 23- 9 story office under construction
the Link - 29 story apartment UNDER CONSTRUCTION
Central Park East- 17 stories apartments and 11 story hotel under construction
The Stuart- 21 story apartment under construction

Derby- 21 story apartment - construction on hold for litigation

AC Marriot 15 stories - Proposed

The link - 25 story apartment proposed
The link 20 story apartment proposed
Barrister- 32 story apartment proposed
Residences at Collier - 25 story proposed
Arizona Center- ~30 story Condos planning

BMO 2nd tower- 22 stories Rumored

Central station- ~30 stories A man can dream!

Low Rise
Broadstone Roosevelt- Under Construction
Hance Park Apartments and Office- Under construction
Small project next to Broadstone - under Construction
Ally's on roosevelt (I cant remember the name) Under Construction
Grow House 2.0 - Under Construction
Central and Willeta- under Construction
Arizona Center Remodel - Under construction

ballpark Apartments - apparently revived
The Filmore - Planned
The Church- Planned
Native Connections - Planned
Roosevelt and 3rd ave- Planned
McKinley Row- Planned
ASU Biomed Phase 1- Planned
Enhance Phase 2- Planned
Enhance Phase 3 Planned
McKinley and First ave project ( with Grocery) - Planned
Hance Park Update- Planned
Parking Structure 1st street and Jefferson- Planned

Early stages
Spaghetti Factory lot
RFP for Central & Adams
Light Rail Capitol Mall and South Central Extensions

Updating the list