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  #301  
Old Posted Apr 24, 2016, 2:50 AM
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combusean combusean is online now
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Originally Posted by Jjs5056 View Post
Lol, a 4-story single-use lowrise that is totally overparked... so typical of Wood Partners.
At 225 units/2.6 net acres, this is the densest project for Central Phoenix outside of downtown besides Omninet East and West, the latter two of which haven't moved much and are next to light rail. Alta Central is about twice as dense as the typical 1970's-dense projects that have been coming out from other developers for the area, a vast improvement over their last project (Alta Thomas) and, I should add, is done by a developer that ranks towards the top of an all-important shortlist: building and/or has built in Central Phoenix.

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There's clearly no desire toward making Midtown an actual livable, walkable neighborhood because this project is well short of what was envisioned for the area as a Major Urban Activity Center with heights up to 180 feet. Contrary to an Activity Center, this project actually demolishes the commercial uses that are lacking along the entirety of Central and perpetuates the cycle of projects needing more parking since residents can't find what they need in walking/train distance.
Wake me when there is need for more retail in the area or 180'+ new builds, especially considering that the journey across Indian School from light rail to this project through shit parking lots leaves the journey for the most intrepid urbanist during summer, and even during non-hellish weather it's still a big ask for the typical Phoenician. The developer has decided that an above-grade-parked, wood-frame constructed building is safe and works, and I agree with that despite how much I'd like Central to be a shopping street up and down. I can be happy that there will be parallel parking on Indianola and patio units on Central for what it's worth.

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There should be very few instances...
Yes, there *should*, but I think what you are missing is this, much like many projects in Central Phoenix are interim, built-to-be-sold endeavors that work for the current submarket today. The quality mixed-use urban buildings you want for Central Phoenix are a decade or two from now.

Here's my brief Midtown reality check:

- bedraggled with high office vacancies/functionally obsolete high-rises
- fourth or fifth on the importance and desirability list after Downtowns Phoenix and Tempe, the Biltmore/Camelback/16th St, suburbs notwithstanding...Downtown Chandler is more a pedestrian hotbed than Midtown. I'd rather spend an afternoon walking around Downtown Glendale or Mesa than Midtown, ffs.
- needs a lot of fixing in terms of basic infrastructure and the built environment before you see this utopian walkable urban paradise.
- doesn't even remotely compare to the sort of down-the-street boulevards like Market Street in San Francisco or Wilshire in Los Angeles where off-market or locally troubled (Mid Market in SF has a storied history) developments could thrive in theory.

The fact that there are now 2,300 units under planning or construction in Midtown should in itself be considered no small miracle for that corridor. I wouldn't have even considered this a remote possibility during the height of last decade's boom and I still haven't the foggiest idea of where these people are coming from or why they'd want to live there.

Last edited by combusean; Apr 24, 2016 at 3:16 AM.
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  #302  
Old Posted Apr 26, 2016, 1:32 PM
PHXFlyer11 PHXFlyer11 is offline
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$24M Project at Central and Camelback (City RFP?)

http://www.bizjournals.com/phoenix/n...posed-for.html

Unfortunately, no subscription....
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  #303  
Old Posted Apr 26, 2016, 4:04 PM
PhxMatt PhxMatt is offline
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There was a proposal from the group that owns the rest of the corner, it appears they proposed a seven story 120 unit apartment building on the odd shaped parcel the city owns. I don't have a subscription to the Business Journal so not sure what other details they provide. It would be interesting to see how they would incorporate this into a larger project for the entire corner.
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  #304  
Old Posted Apr 26, 2016, 4:19 PM
dtnphx dtnphx is offline
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Here you go:

EXCLUSIVE: $24M apartment complex proposed for Camelback, Central land

A development group wants to build a $24 million, 120-unit, seven-story apartment building on land next to the Metro light rail stop at Camelback Road and Central Avenue.

The city of Phoenix owns the land at the southwest corner and asked for development bids earlier this year. One group — called Cornerstone at Central & Camelback LLC — has put in a bid.

Cornerstone includes real estate industry veterans Wayne Howard, Reid Butler and Martin Aronson. The group owns some adjacent land. The group has put in a $790,000 cash offer for the land. A city request for proposals pegged a minimum bid price of $788,800.

The Cornerstone bid also includes allowing the city to temporarily use some bus lanes and bays on the land and would include community use space such as event space, bicycle and handicapped parking for nearby shops. Cornestone said those bring up the value of its bid to $1.36 million, according to city documents.

The Davis Experience architecture firm in Tempe will help design the apartment project.

Howard and Aronson could not be reached for comment on the bid. City documents show Butler is a 5 percent partner in the proposed apartments.

Apartment rents are expected be between $900 and $2,300 per month, according to Cornerstone plans filed with the city.

The land is currently undeveloped and its catty-corner to the refurbished Uptown Plaza.

City staff will try to finalize a purchase and development deal which could then be forwarded to the Phoenix City Council this summer.

Mike Sunnucks writes about residential and commercial real estate, government, law, sports business and workplace issues.
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  #305  
Old Posted Apr 26, 2016, 4:22 PM
PHXFlyer11 PHXFlyer11 is offline
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Originally Posted by dtnphx View Post
Here you go:

EXCLUSIVE: $24M apartment complex proposed for Camelback, Central land

A development group wants to build a $24 million, 120-unit, seven-story apartment building on land next to the Metro light rail stop at Camelback Road and Central Avenue.

The city of Phoenix owns the land at the southwest corner and asked for development bids earlier this year. One group — called Cornerstone at Central & Camelback LLC — has put in a bid.

Cornerstone includes real estate industry veterans Wayne Howard, Reid Butler and Martin Aronson. The group owns some adjacent land. The group has put in a $790,000 cash offer for the land. A city request for proposals pegged a minimum bid price of $788,800.

The Cornerstone bid also includes allowing the city to temporarily use some bus lanes and bays on the land and would include community use space such as event space, bicycle and handicapped parking for nearby shops. Cornestone said those bring up the value of its bid to $1.36 million, according to city documents.

The Davis Experience architecture firm in Tempe will help design the apartment project.

Howard and Aronson could not be reached for comment on the bid. City documents show Butler is a 5 percent partner in the proposed apartments.

Apartment rents are expected be between $900 and $2,300 per month, according to Cornerstone plans filed with the city.

The land is currently undeveloped and its catty-corner to the refurbished Uptown Plaza.

City staff will try to finalize a purchase and development deal which could then be forwarded to the Phoenix City Council this summer.

Mike Sunnucks writes about residential and commercial real estate, government, law, sports business and workplace issues.
I'd take 7-stories
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  #306  
Old Posted Apr 26, 2016, 4:38 PM
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Does anyone know if the former Paz property is now under construction? I thought someone said it was, but I'm not sure it was ever confirmed.
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  #307  
Old Posted Apr 26, 2016, 4:45 PM
biggus diggus biggus diggus is offline
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There is utility work happening on the site and there has been for weeks.
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  #308  
Old Posted Apr 26, 2016, 5:39 PM
PHXFlyer11 PHXFlyer11 is offline
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Originally Posted by biggus diggus View Post
There is utility work happening on the site and there has been for weeks.
Same story, looks like power lines are preventing any real work here. Just like on 3rd and Thomas. They are working around them for now, but can't make too much more progress until they remove the lines.
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  #309  
Old Posted May 5, 2016, 8:35 PM
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combusean combusean is online now
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6 stories, 120 units, ground floor retail for the SWC of 3rd Ave and Roosevelt called "R Cubed."

http://roselawgroupreporter.com/2016...-neighborhood/
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  #310  
Old Posted May 5, 2016, 8:50 PM
ASU Diablo ASU Diablo is offline
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Originally Posted by combusean View Post
6 stories, 120 units, ground floor retail for the SWC of 3rd Ave and Roosevelt called "R Cubed."

http://roselawgroupreporter.com/2016...-neighborhood/
Cool. Do we have any idea how big the footprint is or how south the project goes? Trying to see if it will include all the land directly south up until Pinnacle Capital Mortgage building?
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  #311  
Old Posted May 5, 2016, 9:07 PM
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As far as I can tell, it will sit on the small strip retail building and the parking lot to the immediate south. The next parking lot over is parking for the Power Apartments across the street according to the county assessor.

Then again, there could be a shared parking arrangement, as the deeds and all that haven't been updated yet.
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  #312  
Old Posted May 5, 2016, 9:10 PM
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Originally Posted by airomero83 View Post
Cool. Do we have any idea how big the footprint is or how south the project goes? Trying to see if it will include all the land directly south up until Pinnacle Capital Mortgage building?
The land the large awning is on (immediately south) is owned by the same entity as the existing building on the SWC. The parcel with the two small parking awnings just south of that is a different entity. So I'd imagine it's only the parcels with SWC building and the large awning as shown below.



Side note: It appears all of the townhomes on 3rd have been sold.
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  #313  
Old Posted May 5, 2016, 9:36 PM
ASU Diablo ASU Diablo is offline
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Originally Posted by PHX31 View Post
The land the large awning is on (immediately south) is owned by the same entity as the existing building on the SWC. The parcel with the two small parking awnings just south of that is a different entity. So I'd imagine it's only the parcels with SWC building and the large awning as shown below.



Side note: It appears all of the townhomes on 3rd have been sold.
Cool thanks! Hope that other parking lot at some time gets developed...shared parking arrangement would be ideal.

As far as Townhomes on 3rd, yes those were 100% sold before the 1st unit was even completed
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  #314  
Old Posted May 5, 2016, 9:51 PM
dtnphx dtnphx is offline
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FWIW, the entity is called Fenix Impact Fund, LLC. Sounds like an excellent proposal.
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  #315  
Old Posted May 7, 2016, 10:38 PM
sky51 sky51 is offline
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Pictures of Portland Place 2 taken on May 7 2016. It is SO awesome to see such a high quality building right next to a beautiful park (the Japanese Friendship Garden) being constructed here in Phoenix!! I also love the way the new hotel is also using vertical brown metallic cladding like PP1 and PP2.




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  #316  
Old Posted May 7, 2016, 10:46 PM
sky51 sky51 is offline
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Pic of Proxy 333 taken on May 7 2016. The way this building addresses a street is the way it should be! It is in sharp contrast with the Holiday Inn Express a block away.
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  #317  
Old Posted May 7, 2016, 10:53 PM
sky51 sky51 is offline
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Pic of Illuminate take on 5/7/16. Looks like the cladding is about to go up.


It is so cool how Illuminate and Linear are forming a mini canyon from a certain angle at 3rd Street and Roosevelt.

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  #318  
Old Posted May 7, 2016, 11:01 PM
sky51 sky51 is offline
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Pics of Alta Fillmore taken on May 7 2016. I am by no means sure of the actual numbers, but it seems like once this project is fully occupied, the population of this part of town will go up like 20 fold.



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  #319  
Old Posted May 8, 2016, 5:05 AM
muertecaza muertecaza is offline
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Thanks for the pictures. It really will be a big change when the residents start moving in.
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  #320  
Old Posted Jun 13, 2016, 5:41 AM
muertecaza muertecaza is offline
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ABI Multifamily Stats

Interesting article about state of Phoenix area multifamily market.

http://abimultifamily.com/phoenix-me...affordability/
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