[soleri]

http://img154.imageshack.us/img154/5938/towerlarge23yo.jpg (http://imageshack.us)


We've got various threads going on this one, and I hate to create another one, but in the interests of clarity a simple title works best.

Here's are some pictures I took yesterday. The best place to view the activity is from the 3rd floor pool deck of the San Carlos Hotel. Simply take the elevator up, turn right and walk to the end of hall through the exit doors (which are not locked during regular hours).

Right now, the caisson work is underway:
http://img154.imageshack.us/img154/78/p20800091yo.jpg (http://imageshack.us)

http://img154.imageshack.us/img154/6020/p20800104nb.jpg (http://imageshack.us)

http://img154.imageshack.us/img154/9195/p20800114tt.jpg (http://imageshack.us)

Pool area of the San Carlos:
http://img154.imageshack.us/img154/3654/p20800127ae.jpg (http://imageshack.us)

[phx623]

Now that construction has started on this project and Summit at Copper Square, we can offically say that there will be three new towers rising in 2006:

1.) 44 Monroe (34 stories)

2.) Summit at Copper Square (22 stories)

3.) Convention Hotel (31 stories)

I don't care what anybody says, this is a big year for Phoenix.

[Upward]

Here's how the site looked on May 7, 2005

http://www.qrivy.net/albums/phx507/IMG_7892.jpg

The old building was still there. Unfortunately, the cynic in me won't believe that the new tower is actually going up (instead of the site having been cleared just to inflate its value) until some part of it is constructed.

[oliveurban]

I don't care what anybody says, this is a big year for Phoenix.


:yes:

Agreed.

[PHX31]

Throw in W hotel *hopefully*. But I can't wait to watch 3 towers rise.

[somethingfast]

This is great news! Actually starting a project is huge! Two years from now Phoenix will look much different and much more dense (if not taller). Awesome!

[soleri]

Got a "scoop" today about the crane on this project. Apparently, the adjacent property owners have to approve the crane's wide swing over their property. The owner of the parking garage, who still has concerns about the shoring on his south foundation wall, will not give that approval. The result is that the crane here will have to be re-engineered away from the garage to avoid their air space. It will be smaller as a result, with construction slower and costlier.

[Upward]

Give me a break! :no:

[Vicelord John]

Got a "scoop" today about the crane on this project. Apparently, the adjacent property owners have to approve the crane's wide swing over their property. The owner of the parking garage, who still has concerns about the shoring on his south foundation wall, will not give that approval. The result is that the crane here will have to be re-engineered away from the garage to avoid their air space. It will be smaller as a result, with construction slower and costlier.
what an asshole. Seriously, he is just mad because nobody wants to rent in his shitty building except a gross pizze joint.

[oliveurban]

Interesting.

[soleri]

As of this morning, the caisson work is going full-bore ( so to speak). At the very least, we're going to get an excellent foundation. I'm feeling better by the day.

http://img157.imageshack.us/img157/8127/p22100187kc.jpg (http://imageshack.us)

[soleri]

Taking a peak last night after the bond rally, they've got the night lights on and crews still working. Good sign!
http://img102.imageshack.us/img102/2604/p31402361qz.jpg (http://imageshack.us)

[PHX]

Such a tease, when will we see a tower crane on this project.

[soleri]

^I'll guess within a month. The caisson work is proceeding and it appears several weeks away from completion. I'll wager April 11 for the crane.

[soleri]

Caissons keep rolling along:
http://img373.imageshack.us/img373/4292/p32700295ft.jpg (http://imageshack.us)

I talked to the salesman at 44 Monroe today. Of the 202 units, only 65 are sold. You can get a 740 sf unit for only $399,900! 9th floor, but still.....

[InfillJunkie]

Soleri, how long have they been doing presales? 65 is not even close to 50%.

[soleri]

^The reservations list was over 75% full but the public report took a long time to generate. By the time it did - in late December - the investors who were fueling the condo boom were packing up and leaving for Texas.

I don't know the answer in this particular case, but usually the rule of thumb is at least 40% pre-sales before a project gets financing. Somehow, the developer got the financing prior to the public report (thus enabling actual sales' contracts). The answer may lie in the peculiar history of this project, which was originally a condo conversion of an old office building. It had sold out when the developer, sensing the oncoming boom in late 2004, decided to simply demolish the building and go with the much bigger new construction. At any rate, Phoenix is lucky to get this.

[Boisebro]

you know, that design would make a fine replacement for BoiseTower! it's even got a little bit of earthtones in the bottom to appease our design review gurus! :)

[Vicelord John]

I don't know the answer in this particular case, but usually the rule of thumb is at least 40% pre-sales before a project gets financing. Somehow, the developer got the financing prior to the public report (thus enabling actual sales' contracts).
you do know that you cannot sell a home/condo/anything without the public report, right? Financing in place or not.

[loftlovr]

Grace gets private financing with their projects. -Or at least a decent chunk from private investors through "profit sharing"... I imagine with this downpayment the bank gives them more favorable interest rates and may have seen a huge "interest list" rather than actual lot reservations and deemed that as a sign of security.

I wonder if Grace regrets their decision not to "take their money and run".. -They'd be sold out and finished with construction probably had they not decided to chase the money and build taller.

Either way- I am happy because I like the height and design. Downtown will get there soon- you watch!
I am young and optimistic I know-
I also know this has been said for the last 10 years...
But I feel it- too many cool projects coming. ASU is the clincher.
Word

[phxatty]

According to Phoenix Business Journal today, the crane should start to be erected very soon as the foundation piers have been installed at 60 feet below grade (seems very deep for me but I'm a lawyer not a builder).

[PHX]

According to Phoenix Business Journal today, the crane should start to be erected very soon as the foundation piers have been installed at 60 feet below grade (seems very deep for me but I'm a lawyer not a builder).


Do you have a link to read this article?

[phxatty]

No. Just the printed version out today. Should be on-line by Monday. Article says they are going verticle on April 6th.

[oliveurban]

April 6th is next week. Sounds good to me.

[oliveurban]

High-rise digs deep foundation, prepares to go vertical
Mike Padgett
The Business Journal of Phoenix
March 31, 2006

If you've experienced the traffic bottleneck in downtown Phoenix, you should know the work under way at First Avenue and Monroe Street is just a warm-up for the main event.

Much of the work at that intersection has been below street level and behind a construction screen, so many motorists are unaware what workers have been doing at 44 Monroe, site of a future 34-story building with 202 condominiums, including six penthouses.

The foundation work consisted of drilling 49 caissons, or underground columns, with a giant crane said to be one of only three in the United States.

The crane and its front-end attachment were used to drill the deep holes, using steel casings ranging from four to eight feet in diameter. The holes range from 30 to more than 60 feet deep.

Most drilling rigs of this type can exert 500,000 pounds of downward pressure. This one is four times as powerful.

"It's called an oscillator, and it puts 2 million pounds of pressure down on that steel tube, which has big carbide teeth, and turns it," said project manager Rick Fria. "It will go right through rock."

As each steel casing is pushed into the ground, workers bolt another casing to it and keep forcing them down until they reach the depth they want.

Today, after nearly two months of work, the drilling is finished. Workers have dismantled the heavy-duty crane with its equipment to prepare for another project elsewhere.

The residential tower is the work of Grace Communities, made up architect Jonathon Vento and the father-son team of Don and Ryan Zeleznak.

The next step for the Phoenix high-rise is going straight up 34 stories, and April 6 is the date for the "going vertical" party for the luxury condo building. The guest list for the party, headed by Phoenix Mayor Phil Gordon, totals several hundred. Monroe Street will be closed for the party.

By May, workers should be at the first-floor level with vertical concrete columns, Fria says.

The building's six penthouses range in size from 2,700 to 4,400 square feet, with prices from $2 million to $3.5 million. The remaining 196 condos range from 743 to 2,121 square feet, with prices from $400,000 to more than $1.2 million.

Of the 202 condos, Grace Communities has signed contracts for 54 units and potential buyers who have expressed serious interest in another 47, Ryan Zeleznak said.

Fria is on hand during sales presentations, in case buyers have questions about the construction. He is owner and president of The Fria Co., which provides project and construction management services on large developments. He has high hopes for downtown Phoenix, based on his work on similar redevelopments in Seattle and Denver.

"I think Pottery Barn and Williams-Sonoma and those guys will be coming downtown once we generate some real vibrancy down there," he said.

Other downtown developers already have said they are receiving calls from retailers interested in downtown projects.

Retailers are critical for downtown to expand, said John Pasquinelli, who is buying a 1,800-square-foot condo on the 23rd floor of 44 Monroe. He currently owns a south-facing 10th floor condo at Orpheum Lofts, 114 W. Adams St., which he plans to lease after he moves into 44 Monroe.

"The city has got to follow up with the retail," Pasquinelli said. "If they don't, they're making a huge mistake. We need some grocery, some clothing and whatever people think they can set up to make money."

Pasquinelli, a native of Chicago who also has lived in Los Angeles, is familiar with long commutes. That's why he prefers downtown living to the suburbs.

For Phoenix, Fria said the addition of downtown residential buildings is a predictable reaction to the other major projects under way, including the Phoenix Convention Center, the Arizona State University campus, light rail and the opening of the Translational Genomics Research Institute, and because of the March 14 passage of the city's $879 million bond proposals.

"Phoenix is in a state of change right now, with the bond issue just passing," Fria says. "The snowball's just been pushed down the hill."

[Vicelord John]

the crane is going up as we speak

[soleri]

Very good. Doubts: erased.

[loftlovr]

Thursday from 6:00-8:00 Grace is having a gathering of some sort at the Sales Office right next to the site. I believe there will be refreshments and appetizers. I think it is for anyone- don't think it needs pre-registration or anything..
I'm sure they want to create some hype because of weak sales...
Let me know if anyone goes-

[PHX]

^I'll guess within a month. The caisson work is proceeding and it appears several weeks away from completion. I'll wager April 11 for the crane.

Pretty good guess, only off by a couple of days.

[Azndragon837]

Since I do not have my digital camera anymore, can someone post a few pictures of the crane going up? Thanks.

Also, Centerpoint Condos has their crane up in Tempe. It's a nice sight to see.

-Andrew

[Vicelord John]

Andrew, took a few pictures from 20 stories up and 2 blocks away. They don't show much of anything, but from where I took them you can see fine with the naked eye. Oh welll.

[Azndragon837]

Hmmm, well, I am headed to the Downtown YMCA tonight for my usual workouts, I'll pass by 44 Monroe and check it out myself. Thanks though.

-Andrew

[Azndragon837]

I went by the site tonight after my workout at the Y, and the crane is about 25 feet above the fence line at the northwest corner (hugging the street and parking garage). It looks nice, and I can't wait to see it rise.

-Andrew

[PHX31]

Does anyone know the official height of this bad boy? I really like the design/color change, now that I look at it again.

[soleri]

Did anyone go to the 44 Monroe celebration? I stopped by this afternoon, snapped this picture of the unassembled crane, noticed a City of Phoenix flag being hoisted by a mobile crane, and a combo setting up to play music by the sales office.

http://img417.imageshack.us/img417/5209/p40600996vh.jpg (http://imageshack.us)

[vwwolfe]

Does anyone know when this crane is going up? Don't see much happening here. Was downtown at the D-Backs game this afternoon and went by the site.

A lot going on at the Summit at Copper Square though. Elevator core is coming out of the ground there.

What is the Tarp covered building over by the site of the new convention hotel?

Also there are construction trailers set up on Central, just south of the Osco at McDowell, Anyone know what those are for?

Thanks to all.

[soleri]

^the excavation and boring equipment have been moved from the site, and the caissons have been cleaned out. I've looked at some concrete frames on 1st Avenue wondering if those are going to be part of the fixed crane. I don't know, but I'll guess that any crane construction would occur on a Sunday since it will involve some fairly substantial equipment. My guess: by next Sunday.

Those construction trailers south of the Osco are most likely for light rail.

No idea about the tarp-covered building.

[Vicelord John]

What is the Tarp covered building over by the site of the new convention hotel?


That is Park Place at Arizona Center. It used to be an office building housing mainly Arizona Department of Water something or other and it is being converted to ASU classrooms and gettign a complete facelift. They also added two stories to the parking garage on that corner.

[PHX31]

Does anyone know the official height of this bad boy? I really like the design/color change, now that I look at it again.

Well, does anyone? On Don's list it says it will be 411', but I read somewhere it will be Arizona's 3rd tallest building. Isn't the US Bank Tower only 407'?

Please tell me it is over 400'.

[soleri]

As of April, 24, the caisson work is over,the rebar is rising for columns. No fixed crane yet but I'm wondering whether those concrete forms might serve a temporary function for that. Don't know...

http://img192.imageshack.us/img192/5413/p42401070sl.jpg (http://imageshack.us)
http://img192.imageshack.us/img192/8127/p42401087om.jpg (http://imageshack.us)

[uncompahgre]

Exciting stuff...can't wait to see the end product.

[soleri]

Noticed the steel beams shoring the north wall, and those concrete forms enclosing the columns. Moving along but the fixed crane is still not there.

http://img148.imageshack.us/img148/9606/p42701136li.jpg (http://imageshack.us)
http://img148.imageshack.us/img148/1860/p42701126hl.jpg (http://imageshack.us)

[PhxDT]

Here are some pics from yesterday from my cellphone (I love technology) http://i78.photobucket.com/albums/j106/redheadclay/img007.jpg, http://i78.photobucket.com/albums/j106/redheadclay/img004.jpg

[soleri]

^looks like you found the San Carlos perch. I ran into Richard Melikian of the San Carlos family at the DT ASU open house on Monday. I told him him I was using his pool area to take pictures of 44 Monroe. He said that was fine and if anyone questioned me to say I had Richard's approval.

And welcome to the forum!

[Upward]

It's great to see things happening at the site. :)

[PhxDT]

Thank you for your welcome. I work downtown here, and have been following the threads the past few months. It is nice to see this group helping each other!

[PhxDT]

They are assembling another crane over the weekend on the east side of the project

[Vicelord John]

They are assembling another crane over the weekend on the east side of the project
this makes no sense. They are going to have two cranes? The main crane is already bolted to its platform on the north edge of the lot.

[PhxDT]

I recieved a Copper Square notice that traffic will be restricted over the weekend to assemble a crane. It may not be assembled on the east side, but 1st ave will be closed fri-sun (according to the fax)

[Vicelord John]

yup, phxdt i got the same fax. The crane will have to be loaded on 1st ave but will be on the north center portion of the lot.

[PhxDT]

I have been talking with the realtors on this project, this hasnt been selling too well, and with a 500-625/ft cost, it is understandable (sold 35% as of two weeks ago). I am not certain, but I believe a parking space is in addition to that cost.

[phx623]

I have been talking with the realtors on this project, this hasnt been selling too well, and with a 500-625/ft cost, it is understandable (sold 35% as of two weeks ago). I am not certain, but I believe a parking space is in addition to that cost.


I can't say I'm surprised. My complaining about being squeezed out of the downtown condo market aside, I can't see how there is a huge market for really expensive, really small condos.

$400,000 for 800 square feet? I mean, most people that can afford that kind of pricing would most likely be looking for a bigger condo in a much better neighborhood.

That's 24th Street and Camelback pricing in a downtown that is years away from being a vibrant, sophisticated place to live. This is probably the biggest problem with urban renewal in Phoenix at this time.

There's no disparity in pricing even though there is a huge disparity in the quality -- and safety -- of the surrounding neighborhoods. One should be able to buy the same condo at a lower price in sketchier neighborhoods, much like you pay less for a new house in South Phoenix than you do in Scottsdale, even if the builder and model are virtually identical.

[HooverDam]

Well I hope they learn their lesson and make the Z lofts on 2nd Ave and Fillmore more affordable. Speaking of, does anyone know the status of that project? There is a blurb about it on Grace Communities Website, but it doesn't have a site of its own.

[soleri]

^I talked to the Keller & Williams marketers (who sell for Grace) and was told the Z Lofts property was sold to a San Jose developer who "plans" something other than the rendering we've seen on the Grace website. Too bad. The DFD Cornoyer Hedrick rendering was quite handsome. Before them, the land was held by that Anthony Olivieri company, Metropolis LLC (who own the NEC of 3rd St and Roosevelt where "Canvas" would go. They had a "retro" design for what they called Soho Lofts. I'm not a fan of retro, but this one was really cool looking - 10 floors, high ceilings, ground-floor retail.

Down the street, there's another project in its embryonic stage: Cooper's Place. It would incorporate the 1895 House which looks very abandoned now. It's a Studio Ma project, so the design should be modern. I've requested a rendering/floor plans, which if I get I'll post tomorrow.

[phx623]

The crane is rising over the skyline. I'll post a picture soon.

[DracoCaifan]

About time!!!! Can't wait for the pictures!!!

[phx623]

From: http://members.cox.net/urbanphoenix

http://members.cox.net/urbanphoenix/pics/016.JPG

[oliveurban]

What a beautiful crane.

[Vicelord John]

I rolled out of bed and walked down there late this morning. Got myself some Subway and watched. Unfortunately, by the time I got there, the tower was done, and they are putting the rest on tomorrow, so I basically got to watch nothing. I did meet a guy there who was also hanging out watching and told him about the forums. Maybe we will get another regular!:tup:

[HX_Guy]

The crane looks great!

Quick question...is the crane being assembled to it's final height, or will it grow in height as the construction progresses?

[xymox]

Looks too short to be final - I'd expect that the crane will 'build itself' from here on out. Quite a fun process to watch - if you have time (very slow going).

What other cranes are imminent?

[DracoCaifan]

Finally!!! Cranes in downtown Phoenix!!!!! We just need the Sheraton Hotel crane... and we are complete for this year!!! (I hope for more)

[combusean]

It's actually the second one--Summit at Copper Square has had its crane up for a while.

The Sheraton side is pretty dead last I checked. As they start excavating and whatnot, I'll start a thread about it.

[Vicelord John]

It's actually the second one--Summit at Copper Square has had its crane up for a while.

The Sheraton side is pretty dead last I checked. As they start excavating and whatnot, I'll start a thread about it.
actually excavation looks to be complete.

[combusean]

^ You are correct--there's a good chunk of work completed on the site already, tho from what I could tell it's not quite rising from the ground yet.

My attempts to infiltrate the Republic parking garage was unsuccessful for a couple shots, so I'll have to try again from probably the Arizona Center garage--perhaps not at 4 AM tho.

Here's a shot of the center downtown skyline with the 44 Monroe crane in the middle.

http://emvis.net/~sean/ssp/dt_with_44_monroe_crane.jpg

It's both sad and amazing how much even one single tower can infill the skyline here.

[soleri]

picking up the pace....

http://img279.imageshack.us/img279/3821/p52200014ow.jpg (http://imageshack.us)

[Vicelord John]

wow its starting to move quickly now. Weitz must have gotten a check in the past couple weeks.

[HX_Guy]

I can't wait until this thing starts to make an impression on the skyline.

[Vicelord John]

I can't wait until this thing starts to make an impression on the skyline.
vwvortex???

[HX_Guy]

...and multiple others. :)

[oliveurban]

http://img279.imageshack.us/img279/3821/p52200014ow.jpg (http://imageshack.us)


Nice. I'm curious to see the progress on Summit at Copper Square from above now, too ...

[Vicelord John]

Nice. I'm curious to see the progress on Summit at Copper Square from above now, too ...
you can always watch the live streaming video of it.

[Vicelord John]

...and multiple others. :)
yeah i remember you now from clubsi I think.

[PHX31]

you can always watch the live streaming video of it.

Where is the link???????

[Vicelord John]

^^ it's on their website.

Go to www.summitcoppersquare.com and click on construction photos.

[oliveurban]

Nice. I didn't realize that feature was added.

[soleri]

http://img148.imageshack.us/img148/8971/p52700554ls.jpg (http://imageshack.us)

The sales office has this nice model of the building, illuminated from within. I took this picture from outside - its shows the north side - but it's worth visiting the office to get a full look.

[HX_Guy]

So what is the official height on this? 411 ft? Does that include the decorative items on top?

[combusean]

http://emvis.net/~sean/ssp/44_monroe_v3.jpg

A new image with an alternate parapet from DFDCH--I can't say for sure whether this is what's getting built. I think I like the subtleties in the second revision a bit more, tho I think our very own evil futuristic sky queen tower could make a mark on the skyline for years.

No word on the official height yet. Still workin that.

[soleri]

^I wonder if DFDCH posted that rendering on their site simply as an example of their capabilities. Tucker Sadler of San Diego is the architect of record (no website, unfortunately). DFDCH also lists it as Monore Place, the original name for the project. Still, it bears an uncanny resemblance to the current design, so I've got to wonder. Certainly "evil futuristic sky queen" seems an apt description of the above.

[PHX31]

That is one slick/cool looking tower. The pedestal/base is either unfinished, or just horrible. Oh well, at least it is rising.

[Upward]

I really like the top of that tower :tup:

[PhxDT]

Monroe is doing a foundation pour with 300 trucks over the weekend June 2 - 4

[soleri]

http://img226.imageshack.us/img226/8018/p61000603wo.jpg (http://imageshack.us)

As of Sunday, June 11. The foundation is nearly done so most of the work from here on out will be above street level.

[PHX31]

great update pic... Gotta love three towers rising at the same time (incl. the cchotel, whenever it starts).

Is it still up in the air which rendering or model of the building we'll actually see built? I'm hoping for this:
http://emvis.net/~sean/ssp/44_monroe_v3.jpg

[Upward]

I agree... that parapet would make it a lot more distinctive and cool.

[combusean]

^ It bears a resemblance to the US bank tower, which I always forget isnt a plain white box, but has those corner spikes on the top.

The king and queen of our skyline? I like.

[soleri]

I'm guessing DFDCH did that design as a preliminary request from Grace Communities once the Seattle architect dropped out due to illness. That's why it bears so much resemblance to the Tucker Sadler redesign since both were merely tweaking the original proposal. Grace went with Tucker Sadler but DFDCH has this design in their portfolio as an example of their work.

[Vicelord John]

great update pic... Gotta love three towers rising at the same time (incl. the cchotel, whenever it starts).

Is it still up in the air which rendering or model of the building we'll actually see built? I'm hoping for this:
http://emvis.net/~sean/ssp/44_monroe_v3.jpgthis building is obviously much more than 34 stories, incase nobody noticed yet.

[plinko]

Do you guys think the buttresses at the top are spiked or something? Look at the skewed perspective on that rendering. They're flat.

Something else I've noticed about that rendering is that one of the building sides is skewed off of the base. Are they saying that the building is now 5-sided above the base? The model looks square.

The rendering also shows 46 stories.

I could be totally wrong here...can someone else locally in the know tell me?

[Vicelord John]

After checking into it, it would appear that rendeing is for a condo building in San Diego.

[soleri]

http://img129.imageshack.us/img129/1552/p61501034or.jpg (http://imageshack.us)

I talked to 44 Monroe sales rep Jack Lape this afternoon. We covered a lot of territory, so I'll put the topics in separate categories.

44 Monroe: over 50% of the units are now under contract. The project will be at ground level by the end of July, and will rise a floor each week after that. The cheapest unit is around $520,000. The foot traffic into the sales office has shifted from younger and government workers to those more apt to qualify to buy. There is now more demand for two bedroom units. The architects are still tweaking the final design. They're dissatisfied with the latice work covering part of the parking podium. The rep had no idea about the alternative rendering from DFDCH. I'll email him that image. There are still plans for a 3300 sq ft gourmet grocery on the ground floor.

San Carlos Hotel: the Melikians have been trying to sell the hotel for a couple of years now. The high-rise proposal is an effort to sweeten the pot, as it were. Parking is their main problem. They contracted space at Van Buren and Central where Central Park East is going. Since ASU has that property, they've lost that space. They apparently considered going condo. Their water park concept would be for adults only.

W Hotel: they call 44 Monroe on a regular basis to see what the sales progress is like. Apparently they're gauging the market before proceeding.

Professional Building/Sliver Building: construction is slated to begin this fall turning the Professional Building into a boutique hotel. There will be units for sale too as hotel condos. The Sliver Building would be condos. It could be anywhere from 23 to 40 floors (depending on demand, apparently).

[JI5]

Great work as always, Soleri! So the end of July is the time we've all been waiting for. If its really going to rise one floor per week, I guess we will see our new addition to the skyline in September!

I know many of you are upset by the high prices, but in all honesty they NEED people with money living downtown, because those are the people who make things happen. However, I am keeping my fingers crossed that affordable development will come.

[PHX31]

Yeah, great work Soleri. Man, it sounds like if there was slightly more demand we'd see some serious stuff on our skyline in a short amount of time. Where are those investors when you need them????????

[kevininlb]

:previous: Thanks for the updates. 50% contracted sounds good to me (but what do I know?). And, if I had a few spare millions I'd pay for the W myself (I really want that thing built but I'm losing hope). :hell: Still, some progress, which is great.

[kevininlb]

Yeah, great work Soleri. Man, it sounds like if there was slightly more demand we'd see some serious stuff on our skyline in a short amount of time. Where are those investors when you need them????????

Um, Utah from what I've been reading in the L.A. Times. :(

[shrek05]

Why is the W Hotel basing it on 44 Monroe's sales? Isnt it a Hotel? Or is it condo also....

[combusean]

Thank you for the updates soleri.

44 Monroe: over 50% of the units are now under contract. The project will be at ground level by the end of July, and will rise a floor each week after that. The cheapest unit is around $520,000. The foot traffic into the sales office has shifted from younger and government workers to those more apt to qualify to buy. There is now more demand for two bedroom units. The architects are still tweaking the final design. They're dissatisfied with the latice work covering part of the parking podium. The rep had no idea about the alternative rendering from DFDCH. I'll email him that image. There are still plans for a 3300 sq ft gourmet grocery on the ground floor.

Of course there's more demand now for two bedroom units. Multibedroom units have been missing almost entirely in the bigger picture--right now developers have been counting on two distinct groups of people: Wealthy couples at either the start of life or the end of life.

To have a family in one of these towers, say, Esplanade, you have to buy near the top--the only 3+ bedrooms range in the millions. Who buys these things?

Some of these condominium projects seem more like overglorifed bachelor castles than anything that can make a dent in the larger housing market. Would wealthy young couples have fewer qualms about plunking down hundreds of thousands for one of these units if they could actually grow into them? Why does a 4 bedroom on a lower floor just not exist?

San Carlos Hotel: the Melikians have been trying to sell the hotel for a couple of years now. The high-rise proposal is an effort to sweeten the pot, as it were. Parking is their main problem. They contracted space at Van Buren and Central where Central Park East is going. Since ASU has that property, they've lost that space. They apparently considered going condo. Their water park concept would be for adults only.

An adults only water park? Doesn't that defeat the purpose of the whole thing? But the parking thing aggrivates me to no end: we have mostly empty edifices like the Garage Mahal, sometimes at great cost to the public, yet parking is still a problem for both old and new developments. If Phoenix consolidated all the spaces available as part of a public/private corporation augmented with an improved circulator/valet system, the parking problem would be solved downtown and towers would go up quicker. Simple as that.

It would make sense that the San Carlos was trying to drum up interest--right now it's just hopes, dreams, and a rendering. I can't wait till when we get out of the idealism phase and into reality--where projects like this don't make big news until plans are actually filed or approved. Either way it's good stuff all around.

W Hotel: they call 44 Monroe on a regular basis to see what the sales progress is like. Apparently they're gauging the market before proceeding.

44 Monroe seems an odd place to check up on to gauge the market. They seem like two different projects--the W caters to wealthy folks just staying for a bit, and it seems no shortage of that here. 44 Monroe, on the other hand, is far more pioneering.

Professional Building/Sliver Building: construction is slated to begin this fall turning the Professional Building into a boutique hotel. There will be units for sale too as hotel condos. The Sliver Building would be condos. It could be anywhere from 23 to 40 floors (depending on demand, apparently).

Anybody know who's behind this project?

After checking into it, it would appear that rendeing is for a condo building in San Diego.

Source?

Do you guys think the buttresses at the top are spiked or something? Look at the skewed perspective on that rendering. They're flat.

Despite the skew, the roofline on the tower doesn't match the angle of the buttresses. Architecturally it makes the most sense--why have them at all otherwise? But the rendering is totally whacked--I'd say they cut and pasted a rendering of a parking garage on top of another rendering of a tower without much regard to the perspective. I swear it's like they do this on purpose tho. It certainly keeps us talking about it.

[soleri]

^The boutique hotel in the Professional Bldg is being developed by Grace Communities. I met the project manager at the 44 Monroe sales office today. A systematic renovation would certainly put it in a league above the San Carlos, creating even more pressure on the Melikians.

But how does the Professional Bldg solve its parking issues? I forgot to ask....

[Don B.]

^ Maybe in the base of the Sliver Tower? Are these projects even connected?

--don