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  #1101  
Old Posted Sep 3, 2013, 10:35 PM
westbev93 westbev93 is offline
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An LLC (limited liability company) is just a legal entity formed, like all entities, to allow the ultimate owner to shield personal liability. While there are some nuanced differences between LLCs and corporations (or any other entity like LLP, PC, LP, PLLC, PLLP, etc), the type of entity used shouldn't make the actual transfer of property any more or less difficult. The difficulty is who owns and operates the LLC, and what that owner/operator's ultimate goal is. Perhaps this company is happy leasing property for parking while waiting for land values to increase to some amount at which they would sell.

You tend to see a lot of LLCs owning property because, as far as entity types go, LLC is often easier to operate than a corporation (no annual reports to file with the ACC, etc). There also may be more favorable tax treatment for the owner (although I don't practice tax law so I couldn't tell you what that could be).


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Originally Posted by phxSUNSfan View Post
So the lot must be leased to US Parking Systems. I wonder, for anyone with knowledge of real estate transactions, does buying from an LLC make purchasing more difficult as opposed to buying from a company like US Parking Systems directly? I ask because it seems as though LLCs like H-M Investments tend to hold on to the land and ask for higher prices, which as we all know, makes developing downtown lots more difficult.
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  #1102  
Old Posted Sep 4, 2013, 6:47 AM
nickw252 nickw252 is offline
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Originally Posted by westbev93 View Post
There also may be more favorable tax treatment for the owner (although I don't practice tax law so I couldn't tell you what that could be).
Property taxes aren't affected by the organization's structure but since LLCs are pass-through entities there are no entity level taxes (such as corporate income tax).
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  #1103  
Old Posted Sep 11, 2013, 2:41 AM
nickw252 nickw252 is offline
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I'm not too excited about a new 8 floor parking garage across from the already large Arizona Center garage but a research tower sounds good.

http://www.bizjournals.com/phoenix/b...launching.html

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  #1104  
Old Posted Sep 11, 2013, 3:16 AM
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HooverDam HooverDam is offline
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I'm not too excited about a new 8 floor parking garage across from the already large Arizona Center garage but a research tower sounds good.

http://www.bizjournals.com/phoenix/b...launching.html


the whole thing is way too low density and single use. It'll be a ghost town after 5pm. The idea of a 'campus' in a downtown is dumb.
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  #1105  
Old Posted Sep 11, 2013, 5:36 AM
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Originally Posted by HooverDam View Post
the whole thing is way too low density and single use. It'll be a ghost town after 5pm. The idea of a 'campus' in a downtown is dumb.
Still better than the proposed football stadium (10 games a year, 8 regular, 2 pre-season). The BioScience campus ins't ideal from an urban form standpoint, but this is an investment in high-paying jobs that have a good multiplier effect for the city.

The campus stands to boost the residential demand in Downtown and adjacent neighborhoods, which can only serve to encourage additional development, however begrudgingly developers and landbankers cooperate.
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  #1106  
Old Posted Sep 11, 2013, 4:51 PM
dtnphx dtnphx is offline
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Originally Posted by Prestige Worldwide View Post
Still better than the proposed football stadium (10 games a year, 8 regular, 2 pre-season). The BioScience campus ins't ideal from an urban form standpoint, but this is an investment in high-paying jobs that have a good multiplier effect for the city.

The campus stands to boost the residential demand in Downtown and adjacent neighborhoods, which can only serve to encourage additional development, however begrudgingly developers and landbankers cooperate.
I agree with you. With the UofA Cancer Center (24 hr. occupancy), and the high density (albeit, lower height) is pretty damn amazing for that space that was languishing for years. A football stadium would have been a massive wall on the edge of downtown.
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  #1107  
Old Posted Sep 11, 2013, 6:16 PM
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Quote:
Originally Posted by HooverDam View Post
the whole thing is way too low density and single use. It'll be a ghost town after 5pm. The idea of a 'campus' in a downtown is dumb.
You have to work within the framework that already exists.

I would agree with you if this were an area of existing multiple use buildings already that were being converted to single use, but this is one of the most under-utilized areas of downtown. To expect the area to develop organically into some mixed-use paradise (when there are already a few other areas of downtown that are finally getting somewhere) would take decades. It's a pipe dream.

I commend the City for establishing partnerships to actually bring high paying jobs and educational institutions downtown. That's a much better return (despite whatever true mixed-use urbanity that might be lacking) than waiting for the private sector to catch up. Remember, this is Phoenix. Truly urban projects of any kind are few and far between and probably always will be. Add a local development market that really is only lukewarm to the idea since the demand and ROI isn't what it is in Tempe / Camelback / Scottsdale and this starts to look better and better.

I think the Biomed campus and ASU are the best things to happen to downtown Phoenix in decades.

I'm curious, what kind of density are you looking for at this site? You certainly can't rid of the parking garages. Who is going to occupy all this ground floor retail (if that's what's lacking)? Who wants to live in the same building (or right up against) a hospital / medical lab building?
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  #1108  
Old Posted Sep 11, 2013, 7:28 PM
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Quote:
Originally Posted by plinko View Post
I'm curious, what kind of density are you looking for at this site? You certainly can't rid of the parking garages. Who is going to occupy all this ground floor retail (if that's what's lacking)? Who wants to live in the same building (or right up against) a hospital / medical lab building?
Why can't you get rid of the parking garages? By the City of Phoenix's own numbers we have 10,000 too many parking spaces downtown. People always fear some kind of parking apocalypse, that never really comes in most places. With the LRT right near by, the BioMed area could do fine w/ 1/2 the parking that it has planned.

People live all the time near or right against hospitals all the time, I don't see that being an issue. I'd like to see the City require more residential mixed into the plan. Downtown won't ever be anything without residential.

I'd like to see buildings that face 7th and 5th streets and don't turn their backs on them like most of the current buildings do. I'd like to see more structures in the 10 story range, instead of the 5 story range. They're already acknowledging the possibility of running out of space, so we need to plan ahead. Though I'm aware that way down the line they can/will knock down the Mercado and expand there.

I'm appreciative of the jobs, the dirt lots being filled, etc. I just wish it could be a more urban, integrated and mixed use sort of project.
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  #1109  
Old Posted Sep 11, 2013, 8:02 PM
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Because whether or not the true demand is there, you can't lure tenants in Phoenix without parking. It's that simple. And underground is too expensive. No tenants = no new shiny buildings.

I agree with you that the campus could be better integrated with the street (particularly 5th), but I'm skeptical that 7th will ever be more than a thoroughfare for peeps to get from office building to I-10 or points north. Again, decades...I would have rather they opened up the campus entirely to 5th and put the parking on 7th. A wall true, but better than the 'structure' in the garden' creating a dead zone.

As far as a residential component and going up taller...

Who's to say they haven't planned at least the height contingency for future use? Look at all those seemingly similar buildings lined up on 7th. Who's to say that the future build-out of those isn't the same footprint just taller?

For residential, I question whether the ROI is really there for that type of development on this specific campus. The biomed buildings are by default very expensive and nicely finished. To get a similar residential component would then require those buildings to be built to a standard few and far between in downtown Phoenix. And to add to that you have to live within a medical campus? I just don't see it.

I might also interject (off the top of my head) that the types of City/State partnerships they have set up here might require any residential units to have a substantial low income component (or may outlaw residential at all depending on the agreement). So if it's low income, now you have the added problem of building zero return units in a very expensive building.

Doesn't pencil.

I'm simplifying this to a great degree, but most times the things we wish most for particular developments CAN'T be done for reasons that will never and could never be apparent to the general public. Especially those with complicated governmental partnership agreements.



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Originally Posted by HooverDam View Post
Why can't you get rid of the parking garages? By the City of Phoenix's own numbers we have 10,000 too many parking spaces downtown. People always fear some kind of parking apocalypse, that never really comes in most places. With the LRT right near by, the BioMed area could do fine w/ 1/2 the parking that it has planned.

People live all the time near or right against hospitals all the time, I don't see that being an issue. I'd like to see the City require more residential mixed into the plan. Downtown won't ever be anything without residential.

I'd like to see buildings that face 7th and 5th streets and don't turn their backs on them like most of the current buildings do. I'd like to see more structures in the 10 story range, instead of the 5 story range. They're already acknowledging the possibility of running out of space, so we need to plan ahead. Though I'm aware that way down the line they can/will knock down the Mercado and expand there.

I'm appreciative of the jobs, the dirt lots being filled, etc. I just wish it could be a more urban, integrated and mixed use sort of project.
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  #1110  
Old Posted Sep 12, 2013, 1:07 AM
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phxSUNSfan phxSUNSfan is offline
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Quote:
Originally Posted by plinko View Post
For residential, I question whether the ROI is really there for that type of development on this specific campus. The biomed buildings are by default very expensive and nicely finished. To get a similar residential component would then require those buildings to be built to a standard few and far between in downtown Phoenix. And to add to that you have to live within a medical campus? I just don't see it.
The Texas Medical Center campus does have hotel and apartment buildings (humungous parking garages as well) within its development footprint. It should serve as a model (minus the humongous parking garages) for the smaller scale Phoenix Biomedical Campus.


Last edited by phxSUNSfan; Sep 12, 2013 at 2:53 PM.
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  #1111  
Old Posted Sep 12, 2013, 5:12 AM
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^ The Texas Medical Center area is also very homogenized, boring, etc. While I'm sure its a good economic driver for Houston, its not the kind of complete urban space I'd hope we'd be striving for, especially right in our downtown.
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  #1112  
Old Posted Sep 12, 2013, 5:26 AM
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phxSUNSfan phxSUNSfan is offline
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Originally Posted by HooverDam View Post
^ The Texas Medical Center area is also very homogenized, boring, etc. While I'm sure its a good economic driver for Houston, its not the kind of complete urban space I'd hope we'd be striving for, especially right in our downtown.
That is true, the Texas Medical Center (TMC) is rather large and one-dimensional. Luckily the Phoenix Biomedical Campus (PBC) is much smaller. Unlike TMC, PBC would be yet another unique aspect for completing downtown. More employment with high paying jobs along with residential and hotel in the mix would be welcomed. PBC already borders the Arizona Center and two large residential developments (RoPo and Skyline Lofts) so I see PBC complementing those as it continues to grow. Hopefully the city and partnering developers make good use of the land and plan for taller towers like some found on the TMC campus.
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  #1113  
Old Posted Nov 18, 2013, 10:08 PM
MegaBass MegaBass is offline
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ASU fine arts school putting studios, programs in downtown Warehouse District

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Arizona State University's fine arts school is moving some programs, studios and studies to downtown Phoenix's Warehouse District.
ASU's Herberger Institute for Design and the Arts is taking 26,000 square feet at warehouse developer Michael Levine's building at 605 E. Grant St. a few blocks behind Chase Field.
The fine arts school has 5,800 students and will locate some sculptures and other programs at Levine's building.
"This marks a new era for the ASU School of Art," said Adriene Jenik, director of the School of Art. "Having a range of student graduate programs in a space that is designed to support their needs and that is worthy of their talents is a dream of mine."
Phoenix Mayor Greg Stanton said the ASU move will help downtown arts scene which includes
Levine said Kitchell Construction is currently working on buildout for the ASU space and students and operations will start moving in next month and January. The downtown warehouse center also will include some gallery space and studios.
The fine arts school also oversees the ASU Art Museum in Tempe.
Levine said having the ASU programs and events will help the downtown arts scene.
The Phoenix developer owns and rehabs several warehouse and industrial buildings in the Warehouse District just south of Chase Field and US Airways Center. Levine specializes in adaptive re-use redevelopments of warehouse buildings that date back to early 20th century.
ASU has been growing its footprint in downtown Phoenix after city voters approved a 2006 bond to fund university construction projects.
So the answer to relocation of the two student-operated galleries from the Herberger Institute for Design and the Arts located in Tempe Center, the Step Gallery and Gallery 100.
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  #1114  
Old Posted Dec 3, 2013, 10:41 PM
ASUSunDevil ASUSunDevil is offline
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Stanton, Crow to show off plans for ASU law school’s move downtown


Mike Sunnucks
Senior Reporter-
Phoenix Business Journal


Phoenix Mayor Greg Stanton and Arizona State University President Michael Crow will unveil plans tomorrow for the new ASU law school building being built in downtown Phoenix.

ASU’s Sandra Day O’Connor College of Law will move downtown in 2016 after construction of a new building that could total as much as 300,000 square feet. The law school is currently in Tempe.

Stanton and Crow will give a preview of what the downtown law school will look like tomorrow at City Hall.

The new building will be located on a downtown parcel bounded by Polk, Taylor, First and Second streets.

The city of Phoenix is putting up $12 million to help ASU with the development.

ASU will spend between $100 million and $120 million to build the law school center, according to city estimates.

The university has been growing its footprint in downtown Phoenix after a $223 million bond was approved by city voters in 2006 to help ASU with construction costs.
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  #1115  
Old Posted Dec 4, 2013, 2:51 AM
PHXFlyer11 PHXFlyer11 is offline
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Quote:
Originally Posted by ASUSunDevil View Post
Stanton, Crow to show off plans for ASU law school’s move downtown


Mike Sunnucks
Senior Reporter-
Phoenix Business Journal


Phoenix Mayor Greg Stanton and Arizona State University President Michael Crow will unveil plans tomorrow for the new ASU law school building being built in downtown Phoenix.

ASU’s Sandra Day O’Connor College of Law will move downtown in 2016 after construction of a new building that could total as much as 300,000 square feet. The law school is currently in Tempe.

Stanton and Crow will give a preview of what the downtown law school will look like tomorrow at City Hall.

The new building will be located on a downtown parcel bounded by Polk, Taylor, First and Second streets.

The city of Phoenix is putting up $12 million to help ASU with the development.

ASU will spend between $100 million and $120 million to build the law school center, according to city estimates.

The university has been growing its footprint in downtown Phoenix after a $223 million bond was approved by city voters in 2006 to help ASU with construction costs.
I wonder how this will differ from what was shared here: http://downtowndevil.com/2013/10/15/...ntown-phoenix/

Building looks to be 5-6 stories, they tout its "pedestrian friendliness".
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  #1116  
Old Posted Dec 5, 2013, 12:03 AM
Sepstein Sepstein is offline
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New ASU Law Building

Like the new rendering a lot better than old one but just wish it was taller! But from that rendering there's no room to build what I thought was a possiable residential highrise too! Is that not happening anymore?
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  #1117  
Old Posted Dec 5, 2013, 12:03 AM
Obadno Obadno is offline
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NEw Law Building

Renderings for the new Law building:

http://www.bizjournals.com/phoenix/n...aw-school.html

Quote:
Arizona State University President Michael Crow and Phoenix Mayor Greg Stanton unveiled plans today for a new $129 million, six-story building in downtown Phoenix to house ASU’s Sandra Day O’Connor College of Law.

The law school is moving downtown from ASU's Tempe campus in 2016.
[IMG]http://media.bizj.us/view/img/1536191/asu-law-1nw-corner-800jpg*600.jpg[/IMG]

[IMG]http://media.bizj.us/view/img/1536221/asu-law1st-street-800*600.jpg[/IMG]

[IMG]http://media.bizj.us/view/img/1536211/asu-lawgreat-hall-800jpg*600.jpg[/IMG]

[IMG]http://media.bizj.us/view/img/1536201/asu-law2aerial-800*600.jpg[/IMG]
Wish it was taller, but it fills the whole block with no surface parking

Maybe we will get a new dorm tower in 2015
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  #1118  
Old Posted Dec 5, 2013, 12:36 AM
gymratmanaz gymratmanaz is offline
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great looking structure!!!!!
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  #1119  
Old Posted Dec 5, 2013, 1:04 AM
Obadno Obadno is offline
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I cant get the pictures to post right Anyone else care to give a shot?
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  #1120  
Old Posted Dec 5, 2013, 3:08 AM
HX_Guy HX_Guy is offline
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Here are the pictures of the new law school...pretty drastic design change from what we originally saw but I think for the better.

It's only 6 floors but it looks like it has crazy ceiling heights so it will probably reach 100' I would guess.







There will be two levels of underground parking and the great hall looks like it opens up to the street?


From the aerial rendering, it looks like there may still be some space left aside from a future development on the SE corner.
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