Posted Aug 31, 2020, 10:22 PM
|
Registered User
|
|
Join Date: Jan 2010
Posts: 6,709
|
|
Looks like that Midtown Office Tower is still moving.
Hopefully they can pin down a California tenant and start construction. It will be nice for Central and Thomas to not be fronted with a dirt lot anymore.
https://www.bizjournals.com/phoenix/...nix-tower.html
Quote:
After getting final approval from the city of Phoenix’s Board of Adjustment to relocate the billboards on his midtown property, Jim Pederson is getting ready to start marketing the mixed-use development to prospective tenants.
“We are going to try to identify a major user, we want this to be a special project, it’s a special location,” Pederson, founder of Pederson Group Inc., said.
Depending on the user, the project, located at Central Avenue and Thomas Road, could either be developed as office or apartments, and retail uses will be on the ground floor, he said.
Pederson said he expects the marketing process to take between six and nine months, and construction will begin when the tenants are secured
“We want to have the right kind of tenant mix here,” he said.
Pederson has owned the land since 2002 and has been waiting for the right time to develop it. Pederson, the former chairman of the Arizona Democratic Party, also owns the adjacent building at 2910 North Central Ave. that housed the Democratic Party headquarters, which was destroyed in a fire by an accused arsonist earlier this summer.
While Pederson said the building is now “uninhabitable,” it will not be included in the development of the new tower, and the party will have to relocate its headquarters.
“There is plenty of room to do a high-quality development here,” Pederson said of the 1.75-acre site. “We want this to be an example of what can happen on this part of Central.”
Pederson said midtown has always taken a backseat to downtown, but the redevelopment of Park Central Mall and other nearby developments like his could elevate the area.
“Midtown needed a focal point,” he said. “This is a very important intersection and we hope we can contribute to that.”
|
|