Sorry if this is totally outdated, but the retail/co-working components are being marketed and the brochure linked shows renderings/plans both of the phases that seems to align with what I've read in the last 2 pages:
1. Phase 1 is on a 50,000 sq. foot lot along Monroe; Phase 2 will be built on a 30,000 sq. foot lot along Van Buren.
2. Phase 2 looks to be about 1 floor higher; from the renderings, it does indeed look like a hotel concept, as the top floor has a cabana and outdoor activities. This would match a ~13 foot increase as discussed.
Honestly, the concept when written sounds like a great fit for this area of downtown. A mix of residential and hotel in a new, innovative way through a modern brand of development. They describe the engagement of the ground level in a great way for a block across from the Abbey and Marketplace, etc.
However, the execution is a little worrying:
1. Seriously, why would any phased project on this block be approved that would leave open frontage on VAN BUREN? WVB has the highest height regulations, is zoned for retail, has the most development opportunity... the first major project is going to leave an undeveloped plot fronting that road that should the project get sold, will be very difficult to develop due to the size.
2. Phase 1, along Monroe, is U-shape *away* from Monroe! I could understand a setback given that Monroe is the less urban block of the two, but to have the entire center of the mass facing Monroe be garage? Yuck. This layout also makes the VB plot harder to develop with the majority of units facing into the center of the parcel, as opposed to Monroe.
3. There is supposed to be +/- 15,000 sq. ft of retail... sounds great to me. But, Phase 1 retail is located at the corner of Monroe and 2nd Ave! That is the *least* important corner of the block. 3rd Ave and Monroe would face the Abbey Church and hopefully, a cool project one day at the VB intersection; this will be amenity/leasing space I guess?
I also think that if you are going to split the project into these phases, and incorporate a different use for Phase 2, it should've been kinda easy to make it look less "blocky" visually? Just a handful more floors, or more contrasting materials would do it.
LINK TO PDF:
https://images1.loopnet.com/d2/vy4yf...o/document.pdf
LISTING:
https://www.loopnet.com/Listing/200-...x-AZ/15584235/