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  #21361  
Old Posted Mar 15, 2024, 11:18 PM
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CrestedSaguaro CrestedSaguaro is offline
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Originally Posted by combusean View Post
Waste of money. Get the convention center activated and redeveloped with a well capitalized and willing partner like Hines and stop f'n around with pointless studies.
Agreed. Phoenix could've most likely had one by now if they would have worked with Hines when approached several years ago.
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  #21362  
Old Posted Mar 15, 2024, 11:30 PM
ChaseM ChaseM is offline
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Originally Posted by CrestedSaguaro View Post
Agreed. Phoenix could've most likely had one by now if they would have worked with Hines when approached several years ago.
Agreed, they keep circling the wagon, how many more times is the city going to keep doing this failed song and dance.
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  #21363  
Old Posted Mar 20, 2024, 4:58 PM
Obadno Obadno is offline
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https://www.bizjournals.com/phoenix/news/

Nice to see development pushing west of 7th ave. Grand has basically become what Roosevelt was 10 years ago. And now the city has RFP's for the lots on the Northwest and Southwest corner of 7thave and Washington.

Plus they will be selling/developing the old Police HQ across the street once they finish the update to the former wells Fargo building.

Despite how phoenix RFP's usually go im hoping the downtown momentum will carry projects through.
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  #21364  
Old Posted Mar 20, 2024, 7:55 PM
MiEncanto MiEncanto is offline
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Quote:
Originally Posted by Obadno View Post
https://www.bizjournals.com/phoenix/news/

Nice to see development pushing west of 7th ave. Grand has basically become what Roosevelt was 10 years ago. And now the city has RFP's for the lots on the Northwest and Southwest corner of 7thave and Washington.

Plus they will be selling/developing the old Police HQ across the street once they finish the update to the former wells Fargo building.

Despite how phoenix RFP's usually go im hoping the downtown momentum will carry projects through.
CoPs insistence on the iron grip approach to downtown is so tedious.

Why not increase the value of the land by preemptively increasing the entitlements and zoning to what the city wants and then sell it at auction. The entitlements will drive a higher price and force out unserious bidders.

Their insistence on control at every phase simply isn't working. The City simply doesn't have the market knowledge they claim to possess. See for example, the parking lot at Central and Adams. They went with a *LOWER* offer on the parcel because that project supposedly would drive higher city TPT. Of course, city TPT seems to drive many or most city decisions. Years later... we still have no progress on that lot.
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  #21365  
Old Posted Mar 20, 2024, 11:20 PM
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combusean combusean is offline
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The City doesn't solely rely on "TPT" (i'm assuming that means transaction privilege tax) but like 3 or 4 categories and scored appropriately. There is a slight issue of building to the RFP that gave us the Central Station proposal rather than the more interesting Davis proposal, but the City doesn't and shouldn't consider visual impact because it's entirely subjective. Some jagoff could just as easily think 500' on that parcel could have been too tall.

And Central Station is getting BUILT, unlike Davis which has sent a number of pie-in-the-sky renderings for *unserious* projects. If I seem to recall the Davis proposal hardly considered the RFP to begin with and didn't propose some key element(s) like student housing the City was really wanting to see on that lot.

The Central and Adams lot has always been challenged by its small size. Period. It is incredibly difficult to get a taller project to pencil out there. If the city just sold it off, it would have languished and horse traded and eventually maybe something like Cambria would have developed there. I think most people would prefer ~225' than seven or eight stories.

The RFP process is imperfect but it's about as good as we can get. Sure, it can be tweaked to ensure performance guarantees but that adds uncertainty to projects that should be shoe-ins. The slow growth of RFP projects is likely because of two reasons: nothing given away for free is valuable, and, the institutional investors that move on these projects have probably on the order of five year timelines anyway and that's probably before being informed by local market conditions that they might not be up to speed on like Medistar who was both new to Phoenix and dicked around on the programming for the project.

Downtown's history of land banking and over entitling land should be reason enough to be more judicious with the lots the city does have, especially when these parcels are off the beaten path. Grace Court has hardly filled up in 20 years because someone grossly overplayed their hand.
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