Phoenix Area Low- and Mid-Rise Development Thread - Page 14

muertecaza · #**261** Posted **Apr 20, 2016, 3:14 AM**

Quote:

Originally Posted by combusean

Beautiful!

What an improvement for that site.

Hard to complain about losing the two story there if this gets built.

biggus diggus · #**262** Posted **Apr 20, 2016, 3:36 AM**

That's a great looking building.

Obadno · #**263** Posted **Apr 20, 2016, 6:24 AM**

Quote:

Originally Posted by Urbannizer

536 East Portland

Great building! Still would prefer it on one of the numerous empty/abandoned lots nearby because the existing residential is appears healthy, but I cant really complain!

biggus diggus · #**264** Posted **Apr 20, 2016, 11:13 AM**

Someone very recently went through Lexington Court and nearly all of those units and the outside is updated. I can't imagine them spending all that money and then selling to a tear-down developer. Where did you get that link to the building?

CrestedSaguaro · #**265** Posted **Apr 20, 2016, 5:47 PM**

Alta Filmore and Culver Townhome developments taken from the 16th floor of the US Bank Tower. Taking up a little bit of real estate and adding density to the area.

Come on Phoenix and get a new bid on those empty lots!!

Obadno · #**266** Posted **Apr 20, 2016, 6:32 PM**

Quote:

Originally Posted by RonnieFoos

Alta Filmore and Culver Townhome developments taken from the 16th floor of the US Bank Tower. Taking up a little bit of real estate and adding density to the area.

Come on Phoenix and get a new bid on those empty lots!!

Holy cow Alta is UUUUUUUGE!

I cant wait to see how different downtown is in 6 months when all of these new people move in

combusean · #**267** Posted **Apr 20, 2016, 7:51 PM**

The ABI report is out for Q1 2016, and there's almost nothing new planned that we haven't covered in one page or another on here.

http://abimultifamily.com/abinsight-...eline-1q-2016/

I sense the boom petering out.

Obadno · #**268** Posted **Apr 20, 2016, 8:10 PM**

Quote:

Originally Posted by combusean

The ABI report is out for Q1 2016, and there's almost nothing new planned that we haven't covered in one page or another on here.

http://abimultifamily.com/abinsight-...eline-1q-2016/

I sense the boom petering out.

There is so much multi-family coming online over the next 6-12 months im not surprised developers might hold back and see how the market looks. They don't want to oversaturate.

nickw252 · #**269** Posted **Apr 20, 2016, 8:14 PM**

Quote:

Originally Posted by Obadno

There is so much multi-family coming online over the next 6-12 months im not surprised developers might hold back and see how the market looks. They don't want to oversaturate.

Hopefully the next wave of development in downtown is class A office highrises.

Obadno · #**270** Posted **Apr 20, 2016, 8:44 PM**

Quote:

Originally Posted by nickw252

Hopefully the next wave of development in downtown is class A office highrises.

With downtown office vacancy dropping to about 15% I expect we will get some more office space soon.

combusean · #**271** Posted **Apr 20, 2016, 8:53 PM**

Quote:

Originally Posted by nickw252

Hopefully the next wave of development in downtown is class A office highrises.

The 1949 Medical Center on 1313 N 2nd St was demolished for an office building by Transwestern according to Preserve Phoenix, but no information is known about that project.

The lot is rather big for downtown, so who knows what could be brewing.

biggus diggus · #**272** Posted **Apr 20, 2016, 9:55 PM**

Quote:

Originally Posted by combusean

I sense the boom petering out.

Yes, I think I took a lot of heat for saying this a few months ago.

It's more or less over.

PHX31 · #**273** Posted **Apr 20, 2016, 10:53 PM**

Quote:

Originally Posted by biggus diggus

Yes, I think I took a lot of heat for saying this a few months ago.

It's more or less over.

We need to see all of these projects come online. Then see how the leasing/demand goes. More will get planned and built if vacancies are very low and there is still pent up demand.

dtnphx · #**274** Posted **Apr 20, 2016, 10:56 PM**

It's more complicated than that. Available and appropriate land sites are much harder to find with all the building in the past two years. Plus, what usually happens after a big apartment boom is that condos become in vogue again. Higher rents in new developments make some look toward buying. Look how many condo projects are under development or have come to light in the last 6 months. Our population growth and demand for quality apartments is still strong. Usually it's like a freight train that keeps plugging along way past the point when they should have pulled the plug, but then it's too late. I don't think we're there yet.

dtnphx · #**275** Posted **Apr 20, 2016, 10:59 PM**

Quote:

Originally Posted by biggus diggus

Yes, I think I took a lot of heat for saying this a few months ago.

It's more or less over.

It's somewhat more complicated than that. Available and appropriate land sites are much harder to find with all the multifamily building in the past two years. Plus, what usually happens after a big apartment boom is that condos become in vogue again. Higher apartment rents make some look toward buying. Just look how many condo projects are under development or have come to light in the last 6 months. Our population growth and demand for quality apartments is still strong. Usually it's like a freight train that keeps plugging along way past the point when they should have pulled the plug, but then it's too late and the market collapse. I don't think we're there anytime soon. Fingers crossed.

ASU Diablo · #**276** Posted **Apr 20, 2016, 11:40 PM**

Quote:

Originally Posted by dtnphx

It's somewhat more complicated than that. Available and appropriate land sites are much harder to find with all the multifamily building in the past two years. Plus, what usually happens after a big apartment boom is that condos become in vogue again. Higher apartment rents make some look toward buying. Just look how many condo projects are under development or have come to light in the last 6 months.

...and while on the subject

http://downtownphoenixjournal.com/20...nce-park-sold/

PHX31 · #**277** Posted **Apr 21, 2016, 12:02 AM**

I wonder what Portland on the Park's sales look like. That's a higher price point with many more units.

ASU Diablo · #**278** Posted **Apr 21, 2016, 12:05 AM**

Quote:

Originally Posted by PHX31

I wonder what Portland on the Park's sales look like. That's a higher price point with many more units.

According to website, at 49% sold as well

biggus diggus · #**279** Posted **Apr 21, 2016, 3:59 AM**

Quote:

Originally Posted by dtnphx

It's somewhat more complicated than that. Available and appropriate land sites are much harder to find with all the multifamily building in the past two years. Plus, what usually happens after a big apartment boom is that condos become in vogue again. Higher apartment rents make some look toward buying. Just look how many condo projects are under development or have come to light in the last 6 months. Our population growth and demand for quality apartments is still strong. Usually it's like a freight train that keeps plugging along way past the point when they should have pulled the plug, but then it's too late and the market collapse. I don't think we're there anytime soon. Fingers crossed.

I've seen this show before.

Im not saying it will come to a screeching halt, I'm saying the fun part is over. Next you can expect to see a bunch of full apartments but the hard part will be after the first lease cycle is over and prices collapse.

Someone here has to remember the eighties.

dtnphx · #**280** Posted **Apr 21, 2016, 4:32 PM**

Again, there's still an enormous demand for apartments and condtions are not like the 1980s (yet). There were actually many more apartments built then than there are now because the population growth was enormous.

According to Claritas, the state of Arizona over the next five years is projected to gain more than 693,539 new residents, or almost 138,708 new residents per year. Of this amount, approximately 73 percent are projected to land in the Phoenix MSA.

All those people have to live somewhere and many of them will initially live in apartments.

This article touches on the continued growth we're going to see for a while especially in the downtown core.

http://www.azcentral.com/story/news/...ents/80781360/