Colliers Center/Hines Tower

[Obadno]

Originally Posted by RonnieFoos

I though thist was coming soon. They marked off the parking meters a week ago.

Cant wait to see this corner activate

[LocoPhoenician]

Originally Posted by vwwolfe

They fenced off this worksite today. Looks like construction is imminent.

I work in colliers center we got a memo that parking garage construction starts today. Haven't heard when the tower starts but the site is fenced off now.

https://imgur.com/a/xx1qe7y

[ASUSunDevil]

Originally Posted by LocoPhoenician

I work in colliers center we got a memo that parking garage construction starts today. Haven't heard when the tower starts but the site is fenced off now.

https://imgur.com/a/xx1qe7y

Thanks for the pic! Awesome news that this one is getting going

[TJPHXskyscraperfan]

Wow, this is pretty awesome news. What is all this cycle talk about? If I see the word cycle one more time I’m going to loose it,lol. This isn’t a cycle, it’s a trend. Hopefully Aspirant starts soon, still no activity there yet but I’m sure we will see it moving soon.

[CrestedSaguaro]

Originally Posted by TJPHXskyscraperfan

Wow, this is pretty awesome news. What is all this cycle talk about? If I see the word cycle one more time I’m going to loose it,lol. This isn’t a cycle, it’s a trend. Hopefully Aspirant starts soon, still no activity there yet but I’m sure we will see it moving soon.

As long as we have 200 people moving to the Phoenix Metro per day, these developments are going to keep going. Housing prices are too high now for a large chunk of these newcomers which means more rental units are needed.

[Obadno]

These are condo's as well right?

[CrestedSaguaro]

Originally Posted by Obadno

These are condo's as well right?

I think they are all rentals. From their website:

"luxury multifamily complex"
"The multifamily complex is expected to have 75 studio, 179 one-bedroom and 125 two-bedroom residences"

It doesn't specifically say lease or condo's, but the wording seems to indicate rentals.

[ASU Diablo]

Originally Posted by RonnieFoos

I think they are all rentals. From their website:



It doesn't specifically say lease or condo's, but the wording seems to indicate rentals.

AZ Central article from last year stated condos...

https://www.azcentral.com/story/mone...ict/479051002/

[CrestedSaguaro]

Originally Posted by ASU Diablo

AZ Central article from last year stated condos...

https://www.azcentral.com/story/mone...ict/479051002/

If it's all condo's, that's huge for Downtown. Forgive my arrogance on this, but are there any current high-rise condo's in Downtown? The only one I can even think of being close is One Lexington in Midtown.

[ASU Diablo]

Originally Posted by RonnieFoos

If it's all condo's, that's huge for Downtown. Forgive my arrogance on this, but are there any current high-rise condo's in Downtown? The only one I can even think of being close is One Lexington in Midtown.

44 Monroe (started as condos anyways but some are rentals now) and The Summit too

[CrestedSaguaro]

Originally Posted by ASU Diablo

44 Monroe (started as condos anyways but some are rentals now) and The Summit too

I thought 44 Monroe was mostly apartments? Also, aren't they still having balcony issues anyway? Overpriced for not being able to have your balcony, but I digress.

[ASU Diablo]

Originally Posted by RonnieFoos

I thought 44 Monroe was mostly apartments? Also, aren't they still having balcony issues anyway? Overpriced for not being able to have your balcony, but I digress.

I don't know the background/history but I believe they originally started out as condos and now some were converted to apartments? Anyways, I was looking at purchasing a condo here a couple of years ago but chose Roosevelt District instead. A couple of condos were sold as early as last year too.

[combusean]

44 Monroe was built as condos--they started converting the 9ish-story Chamber of Commerce Building that was on the site and elected to tear it down and build the present incarnation of 44 Monroe as condos because during condo mania demand outpaced the potential supply.

When push came to shove during the Great Recession, few committed to the inflated purchase price, the developer (Jonathan Vento of TrueNorth, ironically enough and isn't seeming to learn any lessons) went bankrupt, and Corus Bankshares, the project's lender, failed. Starwood Capital Group bought the toxic asset and turned it into rentals.

[fawd]

[QUOTE=RonnieFoos;8677778]Also, aren't they still having balcony issues anyway? /QUOTE]

Wait, for real?! We got rid of our place at 44 over a year and a half ago, and at THAT time the balcony thing had been going on for 6 months.

Management is more incompetent than I thought!!!!

[TJPHXskyscraperfan]

The Orpheum Lofts, if you consider that a high rise, The Summit of course, and Portland on the Park are probably the only actual high rise condos. Those Stadium Lofts and McKinley lofts above Moira Sushi are only 4 or 5 stories but are pretty cool spots too. Would be cool if they are Condos or at least make some of them condos.

[CrestedSaguaro]

I probably should have clarified my post. When I stated high-rise condo's, I was pretty much specifically meaning 20 stories or taller. So that basically would bring it down to the former 44 Monroe condos (now converted to rentals) and Summit, which I didn't know were condo's (could have swore I've seen rentals posted at Summit). So Hines developing 24 floors of condo's would be significant to downtown. Maybe it could be the kick we need to get some of that "luxury shopping" started?

[Obadno]

[QUOTE=fawd;8678308]

Originally Posted by RonnieFoos

Also, aren't they still having balcony issues anyway? /QUOTE]

Wait, for real?! We got rid of our place at 44 over a year and a half ago, and at THAT time the balcony thing had been going on for 6 months.

Management is more incompetent than I thought!!!!

And the pool is still closed.

[b1n9]

[QUOTE=Obadno;8678585]

Originally Posted by fawd

And the pool is still closed.

I own at the Summit however to set the records straight on what I know.

44 Monroe : 198 units 12 are condo and 186 are apartment.
44 Monroe : Pool has been closed since August 2016
44 Monroe : Balconies have been closed since sometime in 2018

Summit : 165 units all condos
Summit : 20% rental restriction on CCNRs and fully being used by owners.

Hines Building : Starting all blocked off
Hines Building : Time lapse Camera to be placed on top of the Summit Building

Block 23 : Almost Done
Block 23 : Frys was supposed to open Sept 27 but was pushed back to Oct 27

Battery Lofts : Dirt leveled and minor demolish finished on north block
Battery Lofts : South Lot not started yet

I will put a picture up of Hines Building started shortly.

[b1n9]

[QUOTE=b1n9;8678695]

Originally Posted by Obadno

I own at the Summit however to set the records straight on what I know.

44 Monroe : 198 units 12 are condo and 186 are apartment.
44 Monroe : Pool has been closed since August 2016
44 Monroe : Balconies have been closed since sometime in 2018

Summit : 165 units all condos
Summit : 20% rental restriction on CCNRs and fully being used by owners.

Hines Building : Starting all blocked off
Hines Building : Time lapse Camera to be placed on top of the Summit Building

Block 23 : Almost Done
Block 23 : Frys was supposed to open Sept 27 but was pushed back to Oct 27

Battery Lofts : Dirt leveled and minor demolish finished on north block
Battery Lofts : South Lot not started yet

I will put a picture up of Hines Building started shortly.

[ASU Diablo]

[QUOTE=b1n9;8678707]

Originally Posted by b1n9

Thanks for the pic! That camera angle from The Summit will look great as we see this tower going up