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

[locolife]

Originally Posted by CrestedSaguaro

I have not heard any more news on Astra since the new rendering were released. I keep looking every day though

We need an insider, I'm super curious what the financing setup is.

[MiEncanto]

As I’ve said from the beginning, the project is aspirational until I see shovels.

[Summerlin]

Originally Posted by MiEncanto

As I’ve said from the beginning, the project is aspirational until I see shovels.

Any word on Link tower 3, Last renderings I see it was the tallest with 33 floors ?

[BA744PHX]

Originally Posted by MiEncanto

As I’ve said from the beginning, the project is aspirational until I see shovels.

What does your comment have anything to do with the current questions and discussion?

[azcats]

Originally Posted by MiEncanto
As I’ve said from the beginning, the project is aspirational until I see shovels.

Originally Posted by BA744PHX

What does your comment have anything to do with the current questions and discussion?

There are many more proposed projects than there are completed ones. That doesn't mean that this one won't be built...it is a positive that the Phoenix City Council gave a green light. However, discussion about this project has been on this forum for nearly four years. MiEncanto's statement regarding some doubt is his opinion. That's his right. It's great to be positive and hopeful...however, I have seen many setbacks, disappointments, and failures.

Who knows - maybe, next week there will be a great announcement.

[CrestedSaguaro]

Empire has a great track record thus far. I'm not sure why there would be any doubt with them. This is a huge project and they last stated more will be released early next year. Give it some time. So much impatience around here!

[MiEncanto]

Originally Posted by CrestedSaguaro

Empire has a great track record thus far. I'm not sure why there would be any doubt with them. This is a huge project and they last stated more will be released early next year. Give it some time. So much impatience around here!

My opinion isn't related to impatience but market dynamics. I won't repeat what has been said ad naseum by combusean and myself on the topic because we're all just repeating ourselves.

[Phxguy]

https://www.bizjournals.com/phoenix/...F8Bkbs8lKq860g

From a Q2 2024 to an early 2025 ground breaking, thoughts? Some news is better than none! Also, love the shout out to the SWC of McDowell and Central—could be the next batch of cranes as the current ones come down..

[locolife]

Arizona's tallest apartment tower finally on track to start construction
Scottsdale developer already has plans to move forward with another tower on Central Avenue

Aspirant Development has unveiled new architectural renderings of what is slated to become Arizona's tallest tower.

Plans now call for a construction start date in the first or second quarter of 2025, with leasing to begin in late 2027 for residents and mid-2026 for office and retail tenants, said Geoff Jacobs, partner with Aspirant Development, which is part of The Empire Group of Cos.

https://www.bizjournals.com/phoenix/...ak-ground.html

[ASU Diablo]

Originally Posted by locolife

Arizona's tallest apartment tower finally on track to start construction
Scottsdale developer already has plans to move forward with another tower on Central Avenue

Aspirant Development has unveiled new architectural renderings of what is slated to become Arizona's tallest tower.

Plans now call for a construction start date in the first or second quarter of 2025, with leasing to begin in late 2027 for residents and mid-2026 for office and retail tenants, said Geoff Jacobs, partner with Aspirant Development, which is part of The Empire Group of Cos.

https://www.bizjournals.com/phoenix/...ak-ground.html

Including updated renderings from the article. Also, pretty ballsy developers...this is what we need more of. From the article linked above...

Finding new financing opportunities
While many other multifamily projects in metro Phoenix and across the country are running into financing issues, Empire Group has another strategy.

"We've noticed lenders maybe coming back a bit on how much they're willing to lend," said Grudzinski, who also is managing partner of Empire Capital Advisors.

"We have the benefit of raising money uniquely compared to our competitors," Grudzinski said. "We have a fairly large network of financial advisers whose underlying investors provide us with capital."

A base of 4,000 investors have more than 11,000 investments in the company's projects, Grudzinski added.

"We sent out 11,300 K-1s in March to our investors," he said.

As developers have been ramping up apartment construction throughout metro Phoenix over the past several years, analysts are expecting a peak in new rental construction in 2024.

"You can't look at where the market is today," Grudzinski said. "You have to look at where it's going to be three or four years from now when you're leasing up and what the financing environment is. You have to have the fortitude to say I'm planting seeds now not based on conditions now but four years from now."

[ChaseM]

I’m curious if it’ll get built like this or if it will go through another final design revision before it starts construction next year.

[locolife]

Originally Posted by ChaseM

I’m curious if it’ll get built like this or if it will go through another final design revision before it starts construction next year.

Same but at some point they need a final design for planning purposes, hopefully it stays pretty close to this, I'm a fan.

[combusean]

This complex is just so massive it's almost comical. I think it's a great addition but seeing it dwarf chase tower in height and girth much less, eg, the new dorms which are already decent sized seems almost over the top.

The negative space between the buildings and the vaguely relating design aspects make this a winner too--it's kinda bland and boring but it will age very well.

[combusean]

Originally Posted by locolife

Same but at some point they need a final design for planning purposes, hopefully it stays pretty close to this, I'm a fan.

This already has the zoning and approvals it needs. The building department doesn't really care about many of the aesthetics so long as it generally meets what was already approved. Towers get value engineered all the time.

[michael85225]

That second shorter building is just so big and unique in our city, I love it! We've never seen anything that immense in Phoenix before. All of the towers downtown are on the skinny side and have a somewhat small footprint. When this whole project is completed, these towers will look impressive as hell.

[KEVINphx]

Originally Posted by michael85225

That second shorter building is just so big and unique in our city, I love it! We've never seen anything that immense in Phoenix before. All of the towers downtown are on the skinny side and have a somewhat small footprint. When this whole project is completed, these towers will look impressive as hell.

If it is EVER built - and this latest iteration is terribly bland and ugly in my opinion - I completely understand value engineering but this has stripped nearly every notable architectural element and appears just a massive ugly box.

I do like the height and overall massive scale - that is cool but man it's blah

[michael85225]

Originally Posted by KEVINphx

If it is EVER built - and this latest iteration is terribly bland and ugly in my opinion - I completely understand value engineering but this has stripped nearly every notable architectural element and appears just a massive ugly box.

I do like the height and overall massive scale - that is cool but man it's blah

I don't really like the taller one, it's too boring and just plain. At least the shorter one has a cool step pyramid look to it. We'll see if this actually gets built at all.

[somethingfast]

we absolutely need some new all-glass modern towers that are both big and tall - so call me a huge fan of these designs so far. don't need any more stucco or cladding downtown. glass and steel rules. reminds me of The Shard a bit and a lot of the newer London construction (which is cool). hope like hell this happens.

[Obadno]

Originally Posted by combusean

This complex is just so massive it's almost comical. I think it's a great addition but seeing it dwarf chase tower in height and girth much less, eg, the new dorms which are already decent sized seems almost over the top.

The negative space between the buildings and the vaguely relating design aspects make this a winner too--it's kinda bland and boring but it will age very well.

It’s not comical it’s 30 years overdue. Leave it to you to poo poo the biggest tower ever built in this city

[combusean]

Improve your reading comprehension, I didn't poopoo it at all.