Phoenix Development News (3)

[biggus diggus]

I'm getting the feeling Vento is buying things downtown only to increase his inventory of things he can sell. Touting ground-breaking ideas and projects only makes his land more marketable.

Call me jaded from seeing decades of land-banking in Downtown Phoenix but I'm starting to think that's his end game.

[muertecaza]

Originally Posted by biggus diggus

I'm getting the feeling Vento is buying things downtown only to increase his inventory of things he can sell. Touting ground-breaking ideas and projects only makes his land more marketable.

Call me jaded from seeing decades of land-banking in Downtown Phoenix but I'm starting to think that's his end game.

Not a crazy thought given, like you say, Phoenix's history downtown. I think the retail work, coordination with local groups and construction of the Cambria hotel militate against that, but I guess all we can do is wait and see.

[biggus diggus]

The thing is most of the guys who are actually doing things downtown are trying to stay out of the spotlight, not absorb more of it.

I bet no one on this site has heard of Chuckie Duff. I forget the names of the guys at Metrowest all the time. Big public land grabs almost always end the same way, I just hope this one is a break from the norm. I mean one guy owns most of the warehouse district and has few intentions of developing any time soon, for example.

[Obadno]

Originally Posted by biggus diggus

The thing is most of the guys who are actually doing things downtown are trying to stay out of the spotlight, not absorb more of it.

I bet no one on this site has heard of Chuckie Duff. I forget the names of the guys at Metrowest all the time. Big public land grabs almost always end the same way, I just hope this one is a break from the norm. I mean one guy owns most of the warehouse district and has few intentions of developing any time soon, for example.

I never had much hope for Tramwell Co and the Filmore for this same reason like the Ballpark apartments ....or whatever it is now. They were always in puff peices about downtown while actual moving apartment complexes got virtually no press time.

Although Im pleasently surprised the Filmore is actually moving.

[combusean]

Vento wants to build and things like 1001 and Meow Wolf aren't entitle-and-flip, they're concepts that take dedication to see to fruition and are purpose-built. Moreover, he already did 44 Monroe and is doing Cambria. I don't see why he'd not divest himself when his projects have begun to create the synergy he's looking for.

[combusean]

Fillmore is barely re-platted, recently had the ROW abandoned and reconfigured, and they've been in permits for a while--all the while dependent on city bureaucracy.

That site wasn't ready for the development they're proposing at all. They're rebuilding 4 downtown sized blocks.

[PHX31]

Tower crane base is in for the project just south of Garfield between 4th and 5th St. I can't remember exactly what the project is, can someone post more info/rendering (I think I've seen it on here before).

[CrestedSaguaro]

Originally Posted by PHX31

Tower crane base is in for the project just south of Garfield between 4th and 5th St. I can't remember exactly what the project is, can someone post more info/rendering (I think I've seen it on here before).

It's for the Wexford: https://asunow.asu.edu/20190314-ariz...ovation-center

[Obadno]

Originally Posted by PHX31

Tower crane base is in for the project just south of Garfield between 4th and 5th St. I can't remember exactly what the project is, can someone post more info/rendering (I think I've seen it on here before).

1st building for the long awaited Phoenix Biomed Campus

[PHX31]

/\Thanks. I think it's a great project in a great location. I'm happy they are building there first, hemming in that part of Roosevelt - it'll make Roosevelt seem much more intimate. Glad this isn't going further south near Pierce slowly filling in the campus from south to north.

[Obadno]

Originally Posted by PHX31

/\Thanks. I think it's a great project in a great location. I'm happy they are building there first, hemming in that part of Roosevelt - it'll make Roosevelt seem much more intimate. Glad this isn't going further south near Pierce slowly filling in the campus from south to north.

The Rough plan actually more more height as it head south towards Fillmore. With the tallest building being on the angular lot at 5th and Fillmore.

Now if only that Holiday INN would shutdown and be flatted for more buildings ???

Soon enough.

[Chestnut1]

I was driving on Central earlier today and saw a rezoning sign at the northwest corner of Central and Indian School - the lot with all the yellow bollards surrounding it. What I could find out on the City's website is that the case number is Z 18-19, and it is to rezone from C-3 TOD-1 to WU Code T5:5 UT. No staff report has been posted. It goes to the Encanto VPC July 1 but that agenda has not been posted. So that's all I've got.

[Obadno]

Originally Posted by Chestnut1

I was driving on Central earlier today and saw a rezoning sign at the northwest corner of Central and Indian School - the lot with all the yellow bollards surrounding it. What I could find out on the City's website is that the case number is Z 18-19, and it is to rezone from C-3 TOD-1 to WU Code T5:5 UT. No staff report has been posted. It goes to the Encanto VPC July 1 but that agenda has not been posted. So that's all I've got.

Generic 4 story apartment complex that is very insular/ walled off from the street, we saw a site plan for it some weeks ago.

Its by Toll Brothers who seem to have a lot of promises but no follow through so I wouldnt hold my breath.

[fawd]

Originally Posted by Obadno

Generic 4 story apartment complex that is very insular/ walled off from the street, we saw a site plan for it some weeks ago.

Its by Toll Brothers who seem to have a lot of promises but no follow through so I wouldnt hold my breath.

That would suck for that corner. I'm cool with 4 stories, but at least make it cool on the outside!

[Chestnut1]

Oh that's right. I forgot about that. And yeah, I won't hold my breath.

[CrestedSaguaro]

Originally Posted by Obadno

Generic 4 story apartment complex that is very insular/ walled off from the street, we saw a site plan for it some weeks ago.

Its by Toll Brothers who seem to have a lot of promises but no follow through so I wouldnt hold my breath.

Yea, I had my initial complaint with that proposal. A walled off suburban style complex is not needed for that area...especially with Parc Midtown recently completed and 5 towers proposed across the street. It's too good of a location for something like this and I hope the city or Encanto rejects it for something better designed. The lot may currently be an eyesore, but Phoenix no longer needs to be desperate to fill these lots with cruddy developments.

[biggus diggus]

Originally Posted by fawd

That would suck for that corner. I'm cool with 4 stories, but at least make it cool on the outside!

You don't have to worry about it. Toll Brothers doesn't ever follow through unless it's hundreds of single family homes built on top of beautiful desert.

[azliam]

Originally Posted by biggus diggus

You don't have to worry about it. Toll Brothers doesn't ever follow through unless it's hundreds of single family homes built on top of beautiful desert.

True story...

Remember this?

[biggus diggus]

Yes, that was something they were talking about for the currently abandoned project they talked about at Central and Thomas.

[Obadno]

I was doing some Barrister research to see what is going on now that our next Phase of construction is beginning. I figured if this doesn't get moving now, it wont. Found this article about 8 months old, not sure if it was ever posted here:

https://www.bizjournals.com/phoenix/...80m-condo.html

Sunbelt Holdings Inc. and Centricity Real Estate are teaming to develop a 30-story condominium project in the former Jefferson Hotel, which was featured in Alfred Hitchock's movie "Psycho."

Plans call for developing about 200 units in a 30-story tower, but those numbers could change, said John Graham, president and CEO of Scottsdale-based Sunbelt Holdings Inc.

The project, to be called The Jefferson, will cost more than $100 million to develop.

While a general contractor has not been selected, architect for the project is SmithGroup, Graham said.

The goal is to break ground before the end of 2019 and be open 18 months after that, Graham said.

Jefferson Place Partners LLC — under the leadership of Graham and Geoff Beer — bought the historic building from the city of Phoenix for $2.3 million a few years ago. Jefferson Place Partners LLC is a joint venture between Sunbelt Holdings and Centricity Real Estate. The building originally opened in 1915 as The Jefferson Hotel, and the city later bought it in 1990.

The project follows on the heels of Portland on the Park, which Sunbelt Holdings developed at 200 W. Portland St. in Phoenix near Margaret T. Hance Park in downtown Phoenix.

That 149-unit, 14-story tower has four units left for sale, Graham said. Those units average about 1,400 square feet priced about $400 per square foot. Some cost more than $1 million.

The Jefferson units will be similar in size to Portland on the Park, Graham said. It also will feature a few units priced at more than $1 million.

Christine Mackay, economic development director for the city of Phoenix, said the historic building's facade will be preserved.

Some condos will be inside the Jefferson Hotel building while others will be in a newly constructed tower, she said.

"They are not allowed to demolish or alter the outside of the building so that it will stay in historic nature," she said.

The city has had a few false starts on redeveloping the property, also known as the Barrister building. A previous developer could not secure funding to build apartments.

However it seems like Sunbelts other plans have sort of gotten off track with the Country Club condo being balked and they had a major shakeup in leadership in March of this year.

But If any of you Permit slooths could find something under Jefferson Place, or Jefferson Place Partners that might help us get some details, as we keep calling it "barrister"