Phoenix Area Low- and Mid-Rise Development Thread

[Sunsfan87]

Originally Posted by Sunsfan87

The whole block for the Phoenix Battery Apartments next to Chase stadium has had new fencing put up. Looks like Hardison Downey is the construction team.

Right on queue. Building permit issued today for this project (13-1748). I’m having trouble uploading the picture...

[combusean]

They were waiting to get tax credits. It was a long game to play.

I've walked by their office many times, they are in a small office building that used to be a firehouse around the corner from me. I debated knocking on the door...

[SunDevil]

Originally Posted by Mr.RE

Self Storage Facility.

Eh, guess you can't expect too much when it's next door to a large strip club.

[CrestedSaguaro]

McKinley Court update pic. Crane is going up today.

[CrestedSaguaro]

Also update of the Central and Columbus apartments. Pretty much almost topped out. I hope they come up with a real name...

[Obadno]

Its going to be something terrible like "Place on Columbus"

[pbenjamin]

Originally Posted by RonnieFoos

Also update of the Central and Columbus apartments. Pretty much almost topped out. I hope they come up with a real name...

{Picture of construction.}

At last night's Encanto VPC we heard a zoning case concerning the empty lot due east of there. The applicant is the city, the plan is multifamily residential to include low cost and workforce housing. The city will be issuing an RFP. The committee voted to approve, although reluctantly. There was no guarantee of what percentage would be below market rate. Some on the committee wanted as high as 40%. Since it would result in an RFP there was no site plan. It seemed like we were buying a pig in a poke, but there is a housing shortage in midtown/downtown.

[Obadno]

Originally Posted by pbenjamin

At last night's Encanto VPC we heard a zoning case concerning the empty lot due east of there. The applicant is the city, the plan is multifamily residential to include low cost and workforce housing. The city will be issuing an RFP. The committee voted to approve, although reluctantly. There was no guarantee of what percentage would be below market rate. Some on the committee wanted as low as 40%. Since it would result in an RFP there was no site plan. It seemed like we were buying a pig in a poke, but there is a housing shortage in midtown/downtown.

Man I cant imagine what Midtown and Downtown will be like once all of these old languishing lots have filled in.

It'll be a wild.

[ASUSunDevil]

Originally Posted by Obadno

Man I cant imagine what Midtown and Downtown will be like once all of these old languishing lots have filled in.

We might think that the developers who 'stretched out the skyline' in the 60's were geniuses. Park Central has already activated a ton of foot traffic in the area. Indian School & Central project and the Hance Park renovation will be the next two difference makers.

[CrestedSaguaro]

Snapped a quick pick of the Creighton construction today. Already going vertical!






Also, sign is up for the Willow Residence townhomes the behind 2200 N. Central tower garage. Nice little infill spot...

[mdpx]

Man, that's out of the ground fast!

[CrestedSaguaro]

Also, they are starting prep-work on the Howie Do It container development on the NE corner of Central and Mitchell. Man, Midtown is exploding!

[Obadno]

Critical mass, there we are finally at the point where it’s worth the cost to build in central Phoenix.

We’ve been here a couple years but it’s really kicking off

[Obadno]

Originally Posted by RonnieFoos

Also, they are starting prep-work on the Howie Do It container development on the NE corner of Central and Mitchell. Man, Midtown is exploding!

I didnt see any prep work it looks the same empty lot as always?

[CrestedSaguaro]

Originally Posted by Obadno

I didnt see any prep work it looks the same empty lot as always?

Not exactly sure what they are doing. Two days in a row, they had a bulldozer and water lines on the lot with several workers. They've left after 5 both days. I'll try to find out more tomorrow.

[combusean]

Originally Posted by ASUSunDevil

We might think that the developers who 'stretched out the skyline' in the 60's were geniuses. Park Central has already activated a ton of foot traffic in the area. Indian School & Central project and the Hance Park renovation will be the next two difference makers.

In my mind the mistake wasn't stretching the skyline, it was the urban renewal that cleared out Downtown starting with the government stuff in the 1960s and is pretty much ongoing. Downtown exploded, literally and figuratively in the 1970s.

Demolishing the Duce's SROs with the convention center basically started the homeless issue Downtown, and the rest of its building stock could have been repurposed into an entertainment district. Downtown would have never died per se and the Midtown skyline without height limits would make Phoenix look respectable. The corporate influences that have never really helped Downtown could have been kept away and contained to Midtown.

[Mr.RE]

https://www.bizjournals.com/phoenix/...hjTGgifQ%3D%3D

San Francisco-based JMA Ventures LLC is on track to break ground next week for a $75 million apartment community in the warehouse district in downtown Phoenix.

The last time the developer bought land in downtown Phoenix — about four blocks away from its current location at Fourth and Buchanan streets — it was 20 years ago.

"We were thinking downtown was going to go through a growth spurt that it's going through right now," said Todd Chapman, president and CEO of JMA Ventures. "We were just a little bit early."


He remembers the late '90s during the tech explosion when old warehouse buildings in San Francisco began attracting a community of engineers, software programmers and architects. He figured downtown Phoenix was ripe for a similar explosion.

"Long term, we were right — it's happening now," he said. "We were a little bit early."

Scrapping plans to build office space, Chapman ended up selling the land several years ago.

Now that there's more development in downtown Phoenix — with Cityscape, Block 23 and Arizona State University — the reurbanization has lured him back to downtown Phoenix.

"It used to be people wanted to go to Camelback or Scottsdale, and now people want a more urban experience that downtown has to offer," Chapman said.

He plans to build a 5-story apartment community within the warehouse district of downtown Phoenix.

"There's a great vibrant community in this warehouse district," he said.

Newmark Knight Frank (Nasdaq: NMRK) arranged $51.9 million in construction financing for the 278-unit apartment community, with the rest coming from JMA Ventures and "opportunity zone" funding.

Called the Battery, the project sits on 3 acres near Chase Field and Talking Stick Resort Arena and is expected to be completed by the second quarter of 2021.

Chapman said it's a bit too early to disclose rental rates for the apartment community, but said he wants to keep the prices affordable.

"Our units are priced to be more for first-time renters in the Phoenix market," he said. 'They are a little bit more affordable than the other stuff you'll see. We're targeting renters in that innovation district — people in tech, digital arts or media."

Even though he wants to keep prices down, he said the project will feature luxury amenities, including floor-to-ceiling glass windows, polished concrete floors and smart home technology packages. It also will feature rooftop amenities deck that will include pool, spa, barbeque areas and fitness center.

[biggus diggus]

Originally Posted by RonnieFoos

McKinley Court update pic. Crane is going up today.

They're finishing it right now.

[PHXFlyer11]

Originally Posted by Mr.RE

https://www.bizjournals.com/phoenix/...hjTGgifQ%3D%3D

San Francisco-based JMA Ventures LLC is on track to break ground next week for a $75 million apartment community in the warehouse district in downtown Phoenix.

The last time the developer bought land in downtown Phoenix — about four blocks away from its current location at Fourth and Buchanan streets — it was 20 years ago.

"We were thinking downtown was going to go through a growth spurt that it's going through right now," said Todd Chapman, president and CEO of JMA Ventures. "We were just a little bit early."


He remembers the late '90s during the tech explosion when old warehouse buildings in San Francisco began attracting a community of engineers, software programmers and architects. He figured downtown Phoenix was ripe for a similar explosion.

"Long term, we were right — it's happening now," he said. "We were a little bit early."

Scrapping plans to build office space, Chapman ended up selling the land several years ago.

Now that there's more development in downtown Phoenix — with Cityscape, Block 23 and Arizona State University — the reurbanization has lured him back to downtown Phoenix.

"It used to be people wanted to go to Camelback or Scottsdale, and now people want a more urban experience that downtown has to offer," Chapman said.

He plans to build a 5-story apartment community within the warehouse district of downtown Phoenix.

"There's a great vibrant community in this warehouse district," he said.

Newmark Knight Frank (Nasdaq: NMRK) arranged $51.9 million in construction financing for the 278-unit apartment community, with the rest coming from JMA Ventures and "opportunity zone" funding.

Called the Battery, the project sits on 3 acres near Chase Field and Talking Stick Resort Arena and is expected to be completed by the second quarter of 2021.

Chapman said it's a bit too early to disclose rental rates for the apartment community, but said he wants to keep the prices affordable.

"Our units are priced to be more for first-time renters in the Phoenix market," he said. 'They are a little bit more affordable than the other stuff you'll see. We're targeting renters in that innovation district — people in tech, digital arts or media."

Even though he wants to keep prices down, he said the project will feature luxury amenities, including floor-to-ceiling glass windows, polished concrete floors and smart home technology packages. It also will feature rooftop amenities deck that will include pool, spa, barbeque areas and fitness center.

This will be great! and they did away with the Buchanan closure?

[CrestedSaguaro]

Originally Posted by Obadno

I didnt see any prep work it looks the same empty lot as always?

Ahhh, my bad. False start. They are just storing construction equipment and a ton of piping on the lot. Looks like they are beginning a water line replacement or something on Mitchell.