[plinko]

^I can't cite specifics, but you have to be correct. Property taxes are based on accessed valuation by the County, and a parking lot is certainly worth alot less than a building.

From a developer standpoint it totally makes sense. Get rid of all the losing leases now, demolish the building, pay less in taxes, and parking, especially in Phoenix, is a given money maker (even if it isn't a huge money maker).

I'm not sure under what mechanism the city can prevent such a scenario, EXCEPT in the case of any city subsidies going to the project. That would seem like a no-brainer.

BTW HX, an RDA = Redevelopment Agreement

Are there city subsidies going to this project? If so it would seem like somebody would be able to at least find out why any agreements are being worked out this way? Contact your councilman?

If there aren't any subsidies and this is a purely spec project, then private property rights would seem to trump all.

It's just the tower, the arcade and the building that are landmarked right? Everything else on the block is expendable?