Phoenix Development News (3)

[MMDelon]

I think Astra may break ground during the second half of the year from what the developers have said. I think Skye, McKinley Green, Central Station, and X Base camp may break ground in the first half of the year though. Skye might fly up like Adeline lol

[MMDelon]

What is the "Jefferson" project? I have heard of it but I have seen no rendering of that project. Hopefully we will know what will happen with the Hyatt Garage development this year too.

[MMDelon]

Never mind, that's the Barrister project.

[Classical in Phoenix]

Didn't Crested recently say that Edith had pulled some permits?

[ChaseM]

Originally Posted by PHXFlyer11

Just reminded about McKinley Green in the other thread. It seems in my mind there are 4 likely groundbreakings in the first half of this year.


Probable (1H 21):

- Skye
- Central Station
- Astra
- McKinley Green

Any I am missing? I think Jefferson, Link 3 and Blue are longer shots and further down the road at last...

I'm excited for all these to start, hopefully one day we can get on Austin's level of development, their skyline is booming big time.

[combusean]

Is Central Station stalled? No permits for 8 months, unless they're being recorded somewhere else.

McKinley Green and Skye (formerly Garfield House) should be sprouting up soon.

[CrestedSaguaro]

X's second crane came down today. We're dropping in the crane count. We need to have some ground breakings soon. Here's the ones we should have starting this year...in the order I think they will happen:

1. Skye - Developer isn't wasting time on this. I think it will beat Central Station to a groundbreaking.
2. Central Station - I would rank this first, but as Sean said, no new permits in months. Not sure what's up. The lot was fenced off 3 months ago.
3. Palm Tower - No, this is not stalled. Many permits have been submitted as recently as mid-December. I'm guessing once AC has finished, this will move.
4. Edith - Lots of permits on Edith, but I don't trust Berger. Hope they follow through with this one.
5/6. McKinley Green/X Basecamp - supposed to be built concurrently to reduce infrastructure construction time and costs.
7. Astra - Late Q2 or Q3 groundbreaking. There's still a lot for them to do on this and I hope they refine the final design to give us something to be proud of.

Blue and Jefferson/Barrister are still a ways off. I'll believe Barrister happens when I actually see it. Blue definitely 2022 at the least.

[TJPHXskyscraperfan]

Originally Posted by MMDelon

I think Astra may break ground during the second half of the year from what the developers have said. I think Skye, McKinley Green, Central Station, and X Base camp may break ground in the first half of the year though. Skye might fly up like Adeline lol

Which one is McKinley Green?

[PHXFireBirds]

Originally Posted by TJPHXskyscraperfan

Which one is McKinley Green?

McKinley Green will be on the corner of 1st Ave and McKinley. If you scroll to the bottom, you can see a picture of it under "First McKinley".

On that note, can some tell me which project is Blue? Is it the Jackson and 1st ST warehouse project? Thanks.

[azliam]

It looks like Glasir Capital Partners who purchased the 601 N. Central lot has been actively marketing to developers:

https://vimeo.com/484535953

I'm confused about the '3 contiguous city blocks' though. I thought they only purchased 1.83 acres.

[PHXFlyer11]

Originally Posted by azliam

It looks like Glasir Capital Partners who purchased the 601 N. Central lot has been actively marketing to developers:

https://vimeo.com/484535953

I'm confused about the '3 contiguous city blocks' though. I thought they only purchased 1.83 acres.

Wow. I thought ASU owned some of that land. Just hoping these don’t end up being 1-tower super blocks. Need more development like Link and Here.

[PHXFlyer11]

I can only hope that the delay is them seeing if they can squeeze in the hotel. With vaccinations in process they may be dragging their feet to see if they can get the hotel developer back onboard. Otherwise I wish they’d just add more apartments if not. I can only hope this is the delay. What a disaster it would be if they had to pull the fences down and RFP this for a third time.

[CrestedSaguaro]

Originally Posted by PHXFlyer11

I can only hope that the delay is them seeing if they can squeeze in the hotel. With vaccinations in process they may be dragging their feet to see if they can get the hotel developer back onboard. Otherwise I wish they’d just add more apartments if not. I can only hope this is the delay. What a disaster it would be if they had to pull the fences down and RFP this for a third time.

Not going to say that Central Station has been axed or even delayed. Truth is, they did announce Q1 construction and we are still in Q1. I don't think they will put the hotel back in. I received a definitive "No" when I emailed Medistar about the hotel being added.

I wonder if this could be Covid related delays? Heck, it took me 2 weeks just to receive my last couple of records requests. So everything is pretty slow right now.

[azliam]

Originally Posted by PHXFlyer11

I can only hope that the delay is them seeing if they can squeeze in the hotel. With vaccinations in process they may be dragging their feet to see if they can get the hotel developer back onboard. Otherwise I wish they’d just add more apartments if not. I can only hope this is the delay. What a disaster it would be if they had to pull the fences down and RFP this for a third time.

This video from ABC15 earlier in the month reported that Central Station would be 27 stories. I'm pretty confused about that because I was under the impression that initially it was to be 37 stories with the hotel component being 8 stories. Even Medistar's website states that. So, 37-8=27 (new math?)

• Video Link

[IndyAZ]

I wouldn't put any stake in anything from the news, they are incorrect with their stats more often than not. The original building was 30 stores when they won the RFP, then they increased to 37, when they announced they removed the hotel (8 stories) they also said they added 3 additional floors of apartments, which puts it at 32 stories and all the renderings and video back that up.

The fencing was put up so early not for groundbreaking of the Tower itself, but for Valley Metro to remove items from the site before Medistar's contractor can get onsite and start full construction. Everything they have said to date seems to check out, so I would expect to see this start construction within the next month or so.

[combusean]

Originally Posted by azliam

It looks like Glasir Capital Partners who purchased the 601 N. Central lot has been actively marketing to developers:

https://vimeo.com/484535953

I'm confused about the '3 contiguous city blocks' though. I thought they only purchased 1.83 acres.

This video is sketchy as hell. There's 4 different owners, Glasir, the city owns a small parking lot, Schneider and Schneider (who has owned a large two-block U-shaped parcel for decades) and an individual owner on one of those corner buildings. I have a feeling there'd be some sort of disposition we'd have heard about at least from the city.

Then they say there's high-rise zoning allowing for 500', which is fundamentally not true, the limits are 483/458 for the south two blocks and 250' for the north block.

Then saying ASU employs 120,000 there is bullshit--note the "Thunderbuild" typo. Their copy for pharmacy is wrong and conflated with Tucson. I don't think Phoenix's median home price has been in the mid 200s for a decade or more. Google and Facebook coming to Phoenix would be front-page news.

The video is full of typos, awful grammar, and placeholder text...confirmed in that last frame, this is a beta that shouldn't have been put on a public site. ...Amateurs. I don't care, I'm keeping my play-by-play.

Cool recent drone shots tho.

[xymox]

Originally Posted by combusean

This video is sketchy as hell. There's 4 different owners, Glasir, the city owns a small parking lot, Schneider and Schneider (who has owned a large two-block U-shaped parcel for decades) and an individual owner on one of those corner buildings. I have a feeling there'd be some sort of disposition we'd have heard about at least from the city.

Then they say there's high-rise zoning allowing for 500', which is fundamentally not true, the limits are 483/458 for the south two blocks and 250' for the north block.

Then saying ASU employs 120,000 there is bullshit--note the "Thunderbuild" typo. Their copy for pharmacy is wrong and conflated with Tucson. I don't think Phoenix's median home price has been in the mid 200s for a decade or more. Google and Facebook coming to Phoenix would be front-page news.

The video is full of typos, awful grammar, and placeholder text...confirmed in that last frame, this is a beta that shouldn't have been put on a public site. ...Amateurs. I don't care, I'm keeping my play-by-play.

Cool recent drone shots tho.

Maybe they’re trying to buy the other two plots and using this video to drum up interest as leverage?

The Thunderbuild was a clue whoever put this together didn’t do their homework.

RE: Median home prices - their stats are recent, just not the most recent. From the BizJounral:

“ In December 2015, the median new home price was about $298,000 and the median resale price was about $205,000 — a difference of $29,000, he said.

Today, the median new home price is $354,000 and the median resale is $325,000 — a difference of $29,000.

"In almost five years, the median new home price in metro Phoenix has increased $56,000 or almost 19% versus resale price increase of 59% over the same time period," Kosan said. "The lack of resale supply and the lower $29,000 price differential is leading more buyers to new homes."”

https://www.bizjournals.com/phoenix/...rdability.html

[CrestedSaguaro]

Originally Posted by azliam

This video from ABC15 earlier in the month reported that Central Station would be 27 stories. I'm pretty confused about that because I was under the impression that initially it was to be 37 stories with the hotel component being 8 stories. Even Medistar's website states that. So, 37-8=27 (new math?)

• Video Link

The fact that the reporter states that Central Station will be "three towers" shows there's many errors in this report. So I wouldn't put any stock in the height numbers. I also still can't recollect 20 tower cranes in a single month for Downtown and Midtown both all at the same time. I would like to see how far out from the core they were counting cranes.

[PHX06]

Some progress photos from Friday. AC Hotel looks very close to done -- even landscaping is complete.

The Battery

Adeline

Aspire

Here PHX

Society Phoenix (Just before the second crane was removed)

Derby

AC Hotel

ASU Innovation Dorm

Downtown Skyline from north

[gymratmanaz]

Thanks PHO6!!!!!!!!