Phoenix | Astra Towers (2 towers) | 541 FT | 44 Floors & 425 FT | 30 Floors - Page 9

Diamonddave · #**161** Posted **Nov 18, 2020, 12:14 AM**

I wonder if they can fast track permits of a project this large?

michael85225 · #**162** Posted **Nov 18, 2020, 1:05 AM**

About time we get a new big 3D rendering of this project. What's keeping them waiting so long because smaller projects here in Phoenix get full renderings with sometimes a fly over video.

IndyAZ · #**163** Posted **Nov 18, 2020, 2:47 AM**

Quote:

Originally Posted by Diamonddave

I wonder if they can fast track permits of a project this large?

Phoenix currently doesn't allow expedited permits due to how busy the City is with so much development. At the absolute quickest, saying they had CDs ready to submit as soon as they got City approval, you are looking at a minimum of 3-4 months before any sort of permit would be released and construction would begin. I am still sticking with my original prediction of Q2 2021, but that really isn't that far away....

gymratmanaz · #**164** Posted **Nov 18, 2020, 1:39 PM**

But I want to open my Christmas present NOW!!!!! LOL

azliam · #**165** Posted **Nov 18, 2020, 1:57 PM**

Quote:

Originally Posted by gymratmanaz

But I want to open my Christmas present NOW!!!!! LOL

Same here! I'm so impatient in regards to this project.

I check out SCB's website practically every day like an addict in the hopes that they post better renderings of Astra and nothing...

Diamonddave · #**166** Posted **Nov 18, 2020, 2:24 PM**

Quote:

Originally Posted by azliam

Same here! I'm so impatient in regards to this project.

I check out SCB's website practically every day like an addict in the hopes that they post better renderings of Astra and nothing...

I believe the only renderings we have seen are the one in PBJ and the elevations Crested posted at the first of the year.

PHXFlyer11 · #**167** Posted **Nov 18, 2020, 3:52 PM**

Quote:

Originally Posted by Diamonddave

I believe the only renderings we have seen are the one in PBJ and the elevations Crested posted at the first of the year.

IDK that we'll get anymore. The ones already shared are pretty detailed. If they were selling condos then I could see them investing more money into 3d renderings and videos, but for apartments I'm not sure it's needed.

BTW, I am surprised there is no condo element to this. Maybe The Jefferson will shock us all and move forward. My condo in midtown only went up 1-2% per year for about four years and then quickly increased 20% over the last 18months. I think there is an opportunity for a developer that sees it.

Mr.RE · #**168** Posted **Nov 18, 2020, 5:19 PM**

Quote:

Originally Posted by PHXFlyer11

IDK that we'll get anymore. The ones already shared are pretty detailed. If they were selling condos then I could see them investing more money into 3d renderings and videos, but for apartments I'm not sure it's needed.

BTW, I am surprised there is no condo element to this. Maybe The Jefferson will shock us all and move forward. My condo in midtown only went up 1-2% per year for about four years and then quickly increased 20% over the last 18months. I think there is an opportunity for a developer that sees it.

Unfortunately, in that same period construction costs also accelerated to the tune of 20%+ making it harder to pencil. I'm optimistic though!

PHX06 · #**169** Posted **Dec 15, 2020, 10:52 PM**

Does anybody have any updates on this? I always glance at the YMCA parking lot hopefully when I drive by it, expecting to see some kind of activity.

CrestedSaguaro · #**170** Posted **Dec 15, 2020, 10:58 PM**

Quote:

Originally Posted by PHX06

Does anybody have any updates on this? I always glance at the YMCA parking lot hopefully when I drive by it, expecting to see some kind of activity.

There has been no new permits submitted. Ground-breaking is a while off still.

MMDelon · #**171** Posted **Dec 15, 2020, 11:15 PM**

With Central Station starting Q1 of 2021, I don't expect Astra to break ground until Q4 of 2021 but that's my opinion, it could be sooner.

Diamonddave · #**172** Posted **Dec 15, 2020, 11:23 PM**

Quote:

Originally Posted by MMDelon

With Central Station starting Q1 of 2021, I don't expect Astra to break ground until Q4 of 2021 but that's my opinion, it could be sooner.

After approval from the city last month I would hope it would be way before of Q4 of 2021

CrestedSaguaro · #**173** Posted **Dec 15, 2020, 11:27 PM**

Quote:

Originally Posted by Diamonddave

After approval from the city last month I would hope it would be way before of Q4 of 2021

Guess that depends on the developer. It could be at Link speed or Derby speed....or worse, the Pier speed

Diamonddave · #**174** Posted **Dec 15, 2020, 11:35 PM**

Quote:

Originally Posted by CrestedSaguaro

Guess that depends on the developer. It could be at Link speed or Derby speed....or worse, the Pier speed

We'll the developer is pretty aggressive let's hope it's Link speed.

CrestedSaguaro · #**175** Posted **Dec 15, 2020, 11:37 PM**

Quote:

Originally Posted by Diamonddave

We'll the developer is pretty aggressive let's hope it's Link speed.

That's what I'm hoping. They bulldozed (literally) their way through Stewart and started Aspire fairly quickly. Hoping for a hat-trick!

Obadno · #**176** Posted **Dec 15, 2020, 11:40 PM**

Quote:

Originally Posted by CrestedSaguaro

or worse, the Pier speed

I dont know how the developers of the pier are solvent, renting a tower crane isnt cheap.

CrestedSaguaro · #**177** Posted **Dec 16, 2020, 12:13 AM**

Quote:

Originally Posted by Obadno

I dont know how the developers of the pier are solvent, renting a tower crane isnt cheap.

Maybe they figured 10 years of crane rent is too expensive and they purchased it?

IndyAZ · #**178** Posted **Dec 16, 2020, 1:47 AM**

Quote:

Originally Posted by CrestedSaguaro

Maybe they figured 10 years of crane rent is too expensive and they purchased it?

You laugh, but what I've been told, they actually do own that tower crane. So strange, but I think it must be correct, cause I agree, you can't afford to rent a tower crane for as long as they have and be profitable.

As for Astra, I think it will likely break ground by June based on everything I have heard.

Diamonddave · #**179** Posted **Dec 16, 2020, 1:59 AM**

Quote:

Originally Posted by IndyAZ

As for Astra, I think it will likely break ground by June based on everything I have heard.

If that's the case I'll take Q2 over Q4 anytime.

Mr.RE · #**180** Posted **Dec 16, 2020, 10:21 PM**

Has astra been through plan review/building permits process yet? That alone could take 3 or 4 months but I'd imagine they were doing that concurrently with city council approvals. Once they get their building permits approve I'd imagine they'd finalize their financing or equity. Might be having a hard time attracting enough interest in the capital markets...