Posted Jun 15, 2020, 3:47 PM
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Join Date: Jan 2013
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Idaho developer has eye on downtown Phoenix land for multifamily project
Did we know about this one? I know there some projects proposed for the Eastlake Neighborhood but this one doesn't sound familiar...
Quote:
Boise, Idaho-based Hawkins Cos. is in the midst of rezoning a downtown Phoenix parcel that will pay tribute to Lincoln Ragsdale, a prominent Phoenix civil rights leader and previous owner of the site.
Plans call for building a five-story multifamily property with ground floor retail at the northwest corner of Washington and 12th streets that will be named The Ragsdale.
Hawkins is in escrow to purchase the 2.9-acre parcel as the company works its way through the rezoning process, said Jason Morris, a partner for Withey Morris PLC and zoning attorney for the project. He said he expects escrow to close contingent upon entitlements.
"Lincoln Ragsdale owned this land at one time," Morris said. "His son, Lincoln Ragsdale Jr., also is a prominent African American leader."
Ragsdale Jr. joined a virtual open house for the community and has expressed his support of the project, Morris said. Ragsdale no longer owns the land. It has gone through several owners since he last owned it and currently houses some office buildings and parking.
The $63 million project is right next to a light rail station.
Mark Hawkins, development partner for Hawkins Cos., said he didn't learn about the Ragsdale history of the property until going under contract in January.
"Not knowing much of Lincoln's story, we did some research and were captivated by the integral part he played in the desegregation and civil rights movement in Phoenix," Hawkins said. "It is important to Hawkins Cos. that we honor Lincoln Ragsdale for the profound difference he made in the Valley. Now more than ever, Hawkins Cos. wants to pay tribute to Lincoln Ragdale's lifelong dedication to equality and reform."
Hawkins said he hopes to begin construction in May 2021 and be open by the fourth quarter of 2022. He expects rental rates to range from $1,250 to $2,000.
"We loved that aspect of being at the corner light rail stop and feel like this area is up and coming for new development," he said.
Morris, who has met with neighbors on the project, said it will head to the Center City Village Planning Committee in July.
Hawkins Cos. is a family owned business started by Mark Hawkins' father, Gary Hawkins, who currently serves as owner and CEO.
After growing up in Boise, Mark Hawkins moved to Arizona to attend Arizona State University. After graduation, he moved back to Boise to help in the family business and moved back to Phoenix in 2001 to open a Tempe regional office.
The company has developed nearly 13 million square feet of projects in 27 states, including retail, hospitality, charter schools, multifamily, office and self storage.
In addition to The Ragsdale, the company is developing a 267-unit multifamily property in south Scottsdale called Southdale, Mark Hawkins said.
"This will be our fifth and sixth multifamily projects for the company," he said.
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https://www.bizjournals.com/phoenix/...ltifamily.html
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