Tempe Development Thread

[TAZ4ate0]

Mirabella looks great! Definitelywill be a nice addition to Tempe's collection of highrises.

[Classical in Phoenix]

Looks to be a very attractive building. Prices seem insanely expensive, but more power to them, doesn't seem like they're having any trouble "selling" them.[/QUOTE]

My girlfriend and I went to check out the sales center about a month ago, fortunately we are waaay too young, but when you leave, death or otherwise, you or your estate gets 90% of "buy in" fee back. You never take fee simple title to the unit.

[muertecaza]

Originally Posted by Classical in Phoenix

My girlfriend and I went to check out the sales center about a month ago, fortunately we are waaay too young, but when you leave, death or otherwise, you or your estate gets 90% of "buy in" fee back. You never take fee simple title to the unit.

Yeah, it's an interesting model. I assume retirees typically would sell their house, use the proceeds for the "buy in," then as you say the money mostly comes back to the estate. Doing a little googling, it seems like it's a relatively common model in retirement communities. Some that I've looked at only refund the fee when (1) the unit is resold, or (2) after 10 years, whichever comes first. So it would be somewhat dicey for the heirs as to when they'll get the refund.

[muertecaza]

There is a canopy and chairs set up on the Westin site. You can see them in the Union webcam:

https://app.oxblue.com/open/EDR/tempe

Two groundbreakings in one week?

[muertecaza]

The Local:

[CrestedSaguaro]

Just to add, Mirabella will be 245'. Wasn't sure if the height was posted.

[Phxguy]

https://azbigmedia.com/construction-...-westin-tempe/

Coverage on the Westin groundbreaking. Loving this week in development news!

[muertecaza]

Originally Posted by Phxguy

https://azbigmedia.com/construction-...-westin-tempe/

Coverage on the Westin groundbreaking. Loving this week in development news!

The true feather in the cap will be if the Mill project breaks ground. In December an article said that the plan was to get through all the entitlements through February, and break ground in March. I believe everything went according to plan and they have completed the zoning and historical preservation overlay. So here's hoping they continue apace and are able to break ground.

That would give us Union, Mirabella, Westin, Aura Watermark, the Local, the Grand and the Pier (?) (whatever's going on there) as mid- and high-rises under construction; Crescent, Aura Watermark apartments, Jefferson, Sterling, Metro 101, and the Streelight/Freedom stuff, as well as a bunch of townhome projects, as low-rises under construction; the Mill redevelopment; and a bunch more projects still in planning phases. Pretty cool.

[muertecaza]

Broadstone Lakeside is complete. For a Broadstone box, I think it looks pretty good. Sorry for the bootleg picture.

[muertecaza]

New DRC agenda shows that council initiative to allow property owners to more easily down-zone is having an immediate effect. 11 properties in Maple-Ash are up for down-zoning, most going from multi-family zoning of 20 du/ac to multifamily of 10 du/ac. That neighborhood hasn't had as much redevelopment as those north of University. But the projects that are underway there are town home projects of 20 du/ac and 16 du/ac. So I would think that the down-zoning of the neighborhood likely will discourage redevelopment.

Will be interesting to see whether the flip side of allowing ADUs will have the same level of adoption--sort of doubt it, but we'll see.

[muertecaza]

Originally Posted by muertecaza

New DRC agenda shows that council initiative to allow property owners to more easily down-zone is having an immediate effect. 11 properties in Maple-Ash are up for down-zoning, most going from multi-family zoning of 20 du/ac to multifamily of 10 du/ac. That neighborhood hasn't had as much redevelopment as those north of University. But the projects that are underway there are town home projects of 20 du/ac and 16 du/ac. So I would think that the down-zoning of the neighborhood likely will discourage redevelopment.

Will be interesting to see whether the flip side of allowing ADUs will have the same level of adoption--sort of doubt it, but we'll see.

Article on the above:

https://www.abc15.com/news/region-so...rom-developers

[muertecaza]

Aura Watermark

[muertecaza]

"Novel Rio Salado," the Crescent project on 1st St.

[azsunsurfer]

Article I read today on AzCentral about the squatter's lawyer filing a motion to stop the clock on the countdown from when he has to be gone from the property (30 days). Lawyer claiming the judge sided with Tempe but didn't rule on any damages that he may entitled to if any... Tempe filed a motion to stop the stay. We'll see what develops......

[ciweiss]

Not sure if this was posted

https://azbigmedia.com/grand-papago-...e-residential/


Cushman & Wakefield announced that The Grand at Papago Park Center leased 6.01 acres to Alliance Residential for Broadstone at The Grand. David Fogler and Steven Nicoluzakis of Cushman & Wakefield Phoenix represented the landlord, Papago Park Center, Inc. of Tempe, Ariz, which is owned by Salt River Project (SRP).

Broadstone at The Grand, located on the northeast corner of Priest Drive and the Loop 202, will offer 300 luxury apartments. Designed by ORB Architects, the community will feature one, four-story building and three, two-story buildings with studios, one-, two- and three-bedroom units ranging from 650 square feet (sf) to 1,400 sf.

“Alliance Residential was attracted to The Grand at Papago Park Center because of its location on Phoenix’s light rail line and its proximity to Downtown Phoenix, Arizona State University, Tempe’s Mill Avenue and Tempe Town Lake,” said David Fogler, Executive Managing Director at Cushman & Wakefield Phoenix.

At build-out, The Grand at Papago Park Center will total more than 3.2 million square feet (msf) of commercial development, with more than 2 msf of mixed-use office, including four, nine-story and three, four-story Class A office buildings; three hotels; 550 apartment units; retail and restaurant space. When combined with Papago Park Center’s existing 3.3 msf of mixed-use projects, there will be more than 6.5 msf of urban development and approximately 18,000 employees and residents.

Located along a half-mile of frontage on the Loop 202/Red Mountain Freeway between Priest Road and Center Parkway, The Grand offers pedestrian access to two light rail stations as well as immediate vehicle access to the Loop 202, Phoenix Sky Harbor International Airport and Arizona State University. In addition, restaurants, shopping and entertainment are all nearby at Tempe’s Mill Avenue District. The Grand is also close to Papago Park, Tempe Town Lake, the Phoenix Zoo, Desert Botanical Garden, Phoenix Municipal Stadium and Papago Golf Course.

[azsunsurfer]

Originally Posted by ciweiss

Not sure if this was posted

https://azbigmedia.com/grand-papago-...e-residential/


Cushman & Wakefield announced that The Grand at Papago Park Center leased 6.01 acres to Alliance Residential for Broadstone at The Grand. David Fogler and Steven Nicoluzakis of Cushman & Wakefield Phoenix represented the landlord, Papago Park Center, Inc. of Tempe, Ariz, which is owned by Salt River Project (SRP).

Broadstone at The Grand, located on the northeast corner of Priest Drive and the Loop 202, will offer 300 luxury apartments. Designed by ORB Architects, the community will feature one, four-story building and three, two-story buildings with studios, one-, two- and three-bedroom units ranging from 650 square feet (sf) to 1,400 sf.

“Alliance Residential was attracted to The Grand at Papago Park Center because of its location on Phoenix’s light rail line and its proximity to Downtown Phoenix, Arizona State University, Tempe’s Mill Avenue and Tempe Town Lake,” said David Fogler, Executive Managing Director at Cushman & Wakefield Phoenix.

At build-out, The Grand at Papago Park Center will total more than 3.2 million square feet (msf) of commercial development, with more than 2 msf of mixed-use office, including four, nine-story and three, four-story Class A office buildings; three hotels; 550 apartment units; retail and restaurant space. When combined with Papago Park Center’s existing 3.3 msf of mixed-use projects, there will be more than 6.5 msf of urban development and approximately 18,000 employees and residents.

Located along a half-mile of frontage on the Loop 202/Red Mountain Freeway between Priest Road and Center Parkway, The Grand offers pedestrian access to two light rail stations as well as immediate vehicle access to the Loop 202, Phoenix Sky Harbor International Airport and Arizona State University. In addition, restaurants, shopping and entertainment are all nearby at Tempe’s Mill Avenue District. The Grand is also close to Papago Park, Tempe Town Lake, the Phoenix Zoo, Desert Botanical Garden, Phoenix Municipal Stadium and Papago Golf Course.

The project has been mentioned before. It's already approved by the City. They just finalized the ground lease so they can start construction soon. I think they've applied for permits already?

[Socalzonie]

Anyone have any real intel on The Pier? Seems like a painfully slow pace, but it appears to continue plodding along. A few days ago I ran across some cached web pages from mid-February listing a variety of construction jobs for this project. The ads describe a 24 story project being built by a family company. As proposed, this could truly be a transformative project for Tempe, but every step seems to foster my doubts. Anybody have a scoop?

[phoenixwillrise]

Originally Posted by Socalzonie

Anyone have any real intel on The Pier? Seems like a painfully slow pace, but it appears to continue plodding along. A few days ago I ran across some cached web pages from mid-February listing a variety of construction jobs for this project. The ads describe a 24 story project being built by a family company. As proposed, this could truly be a transformative project for Tempe, but every step seems to foster my doubts. Anybody have a scoop?

Looks like they are doing demo for the Collective project immediately east and adjacent to the new Westin project in Tempe on 7th unless that is part of the Westin Project but I thought they had said the Collective was on the southwest corner.

[muertecaza]

Originally Posted by phoenixwillrise

Looks like they are doing demo for the Collective project immediately east and adjacent to the new Westin project in Tempe on 7th unless that is part of the Westin Project but I thought they had said the Collective was on the southwest corner.

Yeah that's the Collective. I've seen them doing what looked like asbestos remediation lately. Are they knocking the buildings down now?

[stutteringpunk]

I didn't know The Collective was that far along. Hopefully The Hayden moves along just as quickly.