Phoenix Development News (3)

[PHX06]

Some progress photos:

Adeline


Adeline


Portrait


Portrait


Here PHX


Here PHX -- I hope this brand new parking lot is temporary, although some pretty permanent-looking landscaping was placed around it.


Here PHX -- anyone know if there any plans for the fenced-off gravel lot in the foreground? It's the block bound by Garfield, McKinley, 5th St, and 6th St.


Eco PHX


The Rey & Aspire


Mercer on Fillmore


The Battery


The Battery (I didn't realize they were keeping that building and building around it)


The Battery


Portland Broadstone


Palm Court (fenced off, trees still on site - not much to see, but a start nonetheless)


Home2Suites (moving pretty slow)


Skyline from I-10 east

[biggus diggus]

Those guys picked a pretty brutal day to coat a foam roof. Thanks for the photos. Interesting to see what appears to be ASU surface parking going in.

[combusean]

Thanks for the photos ...

Unfortunately Adeline is looking utterly horrible. The white and light blue doesn't go together and that roofline is trash.

[ASUSunDevil]

Originally Posted by combusean

Thanks for the photos ...

Unfortunately Adeline is looking utterly horrible. The white and light blue doesn't go together and that roofline is trash.

I think you'll be pleasantly surprised by the finished product. Adeline will be the nicest residential option Downtown once it's completed. Personally, I think it's starting to look great

Thanks for the pics!

[Classical in Phoenix]

Thanks for the pics.

[YourBuddy]

https://www.bizjournals.com/phoenix/...Pos=0#cxrecs_s

New buildings and renovations coming to Phoenix Financial Center

[CrestedSaguaro]

Originally Posted by PHX06

Some progress photos:
Here PHX -- I hope this brand new parking lot is temporary, although some pretty permanent-looking landscaping was placed around it.

Thanks for the update pics! Yes, the parking lot is slated for Wexford parking and I am very disappointed that this was allowed and approved by the city. It's going to be there for years until ASU decides what to do with the lot down the road. As of now, I don't believe there are any plans to develop the lot any time soon.

Here PHX -- anyone know if there any plans for the fenced-off gravel lot in the foreground? It's the block bound by Garfield, McKinley, 5th St, and 6th St.

I believe for now, the lot will be used for Sky's staging.

[CrestedSaguaro]

Originally Posted by YourBuddy

https://www.bizjournals.com/phoenix/...Pos=0#cxrecs_s

New buildings and renovations coming to Phoenix Financial Center

God I would love to see them complete the Financial Center as originally envisioned! Well I can it dream anyway

[BA744PHX]

Originally Posted by CrestedSaguaro

God I would love to see them complete the Financial Center as originally envisioned! Well I can it dream anyway

[IMG]

That would be amazing!! Sadly it will be probably be another 20ish story building...

[YourBuddy]

https://www.ironlinepartners.com/projects.html#

This is all I found on Ironline Partners. I would love a high rise but it doesn’t seem like they have any experience building anything that tall as much as I would love it.

[azliam]

1.61-acre lot in Roosevelt Row sells for $7.75M

REAL ESTATE | 8 hours ago | AZRE

SVN Desert Commercial Advisors completed the sale of an approximately 1.61 acre lot in downtown Phoenix at the northeast corner of 1st St. and Portland St within Roosevelt Row. The property was acquired from Arizona Moreland Developments, LLC, for $7,750,000 by First and Portland LLC, an entity formed by JRG Capital Partners. JRG, a Chicago-based real estate investment and development firm, is making its initial acquisition in the Phoenix market. Chief Investment Officer, Cheri Grossman, stated “the site is exceptionally located in downtown Phoenix just off of the park with zoning which allows for myriad uses within a two-tower high-rise development.” More...

https://azbigmedia.com/real-estate/b...lls-for-7-75m/

[combusean]

Ironline did a great job renovating the 2828 N Central building and they initially had a hand in the Columbus/Central site where Fore put up that big complex. The Financial Center is class C so literally anything they do will better position it, but tech startups have lesser demands and would do just fine in a rehabbed B building with some character.

I could see them rehabbing the office building to semi-modern standards, rebuilding the garage to support ADA, parking for a second tower, and enough for another 5 stories of apartments. I could definitely see a high-rise condo go there to complete the horseshoe because that size floorplate would make sense.

[SunDevil]

It's just a three story building with a big parking lot, but, my office's lease (VA building at corner of Osborn and Central) is coming up. The plan is to re-lease it, but there is a possibility that it may end up vacant.

[jermykermy]

[Code5]

Originally Posted by jermykermy

God, I hate that parking lot structure across the street from Chase Tower.

I dig seeing Derby in the distance though.

[CrestedSaguaro]

Originally Posted by Code5

God, I hate that parking lot structure across the street from Chase Tower.

I dig seeing Derby in the distance though.

I give that garage 5 more years at most.

[combusean]

What makes you say that?

The garage is a package deal with Chase--owned by some East Coast billionaire with no development experience. Chase is a white elephant for how old and in need of renovations it is.

[phoenixwillrise]

The City of Phoenix and its suburbs need to get more serious about this. Why not plant date palms everywhere for shade and other trees that draw little water? Plant them literally everywhere they possible can in vacant lots, street dividers and especially in parks by adding to the amount of trees already there.
Building codes should require high rises, warehouse and industrial buildings to have rooftop continuous plant boxes with grasses plants etc and new shopping centers should be required to have 10 fold what the requirements are now. Make it happen now!! Also to save water all golf courses areas outside of the fairways and greens should be desert landscaped period and all of course areas needing water should be reclaimed water.

[CrestedSaguaro]

Originally Posted by combusean

What makes you say that?

The garage is a package deal with Chase--owned by some East Coast billionaire with no development experience. Chase is a white elephant for how old and in need of renovations it is.

True. But five years is a long time to hold onto an office tower and not redevelop or remodel it. If he doesn't redevelop Chase within five years, then I predict it getting sold again and with that, the new owner that will hopefully have much more experience, raze the garage and redevelop the block with an updated garage with a smaller footprint along with mixed use space and possibly another tower.

May be wishful thinking on my part.

[somethingfast]

isn't Chase basically functionally obsolete for office at this point? i could see redeveloping for residential (would need serious $ to pull off) but just don't see it attracting multiple office tenants. might be better to raze it and build something new...