Quote:
Originally Posted by RonnieFoos
Exactly. On a side note, Empire took on the Stewart without any high-rise experience with having resistance from the RAA, setbacks do to starting demolition without notifying anyone and a GPLET rejection from Phoenix. Yet, they were still able to build Stewart in a 3 year time frame after announcement. Toll Brothers cannot even get a 4 story multi-family off the ground after many, many years of throwing proposals out there on several lots. In think it will be another 2 years down the road before dirt moves on Thomas or Indian School.
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I don't believe Toll ever got past a preliminary application for their midtown high-rise proposal. Anyone with, what, $650 can get a PAPP--we certainly saw lots of those through condomania. Going through financing, design review, actual site planning, and preconstruction is another matter.
Again, toll has not been just sitting on this although it looks like that. And Empire/Aspirant has been part of Phoenix real estate for a long, long time.