Phoenix Development News (3)

[PHX31]

Originally Posted by bwaynoh

Moved out a couple weeks back. Representatives from Circle K will be at this month's Evans Churchill Neighborhood meeting on June 13th to talk about their proposal for the site.

Damn, I've been too busy, but has anyone made any progress in getting that one building saved? Or rustling up opposition? How can the neighborhood be OK with convenience stores and gas stations all over that intersection?

[exit2lef]

Originally Posted by Phxguy

Besides the slew of historic renovations, new restraunts, Phx police museum opening, and news that Cornish Pantry still plans on a Downtown location, does anybody know what the Arizona Opera constrution will look like when finished. Renderings? http://azopera.blogspot.com/2012/06/...na-operas.html

Can you share the details on the developments with the Cornish Pasty Downtown location? I've seen no progress at the site for weeks.

[bwaynoh]

Originally Posted by PHX31

Damn, I've been too busy, but has anyone made any progress in getting that one building saved? Or rustling up opposition? How can the neighborhood be OK with convenience stores and gas stations all over that intersection?

I haven't heard anything but I know it will be a topic of conversation at the meeting.

[Phxguy]

Originally Posted by exit2lef

Can you share the details on the developments with the Cornish Pasty Downtown location? I've seen no progress at the site for weeks.

I read it on twitter. Some guy was saying that they talked to the management and said they were holding back on their expansion at the downtown location for a few months, possibily 5 or 6.

[Vicelord John]

Yup. That translates to them realizing it'd be a poor use of resources. Cornish pasty would do well on Roosevelt, not Monroe.

[HooverDam]

Originally Posted by Vicelord John

Yup. That translates to them realizing it'd be a poor use of resources. Cornish pasty would do well on Roosevelt, not Monroe.

Good point, they'd be a nice fit in the Canvas bldg with the other eateries apparently going in there. Though Monroe does have potential, Seamus and ghost Lounge are generally pretty busy by downtown Phx standards.

[PHXflyer]

http://www.bizjournals.com/phoenix/b...expansion.html

Potbelly is also going in at 7th Ave and McDowell. How did we not see this coming...

[nickw252]

Originally Posted by PHXflyer

http://www.bizjournals.com/phoenix/b...expansion.html

Potbelly is also going in at 7th Ave and McDowell. How did we not see this coming...

I wonder which corner. I'm kind of hoping for the northeast corner. More parking and it's a more unique building.

[PHX31]

Originally Posted by HooverDam

Good point, they'd be a nice fit in the Canvas bldg with the other eateries apparently going in there. Though Monroe does have potential, Seamus and ghost Lounge are generally pretty busy by downtown Phx standards.

I would think it would do much better on Monroe than Roosevelt. They could tap in to the much bigger lunch rush downtown, and maybe help make Monroe even more of a night spot (or at least get some business at night). On Roosevelt it would mostly be a night place with much less lunch rush.

[Vicelord John]

Originally Posted by PHX31

I would think it would do much better on Monroe than Roosevelt. They could tap in to the much bigger lunch rush downtown, and maybe help make Monroe even more of a night spot (or at least get some business at night). On Roosevelt it would mostly be a night place with much less lunch rush.

hipsters = lunch/midday/and nighttime.
downtown workers = lunch.

"maybe help make monroe even more of a night spot" isn't a sentence that encourages a your average business owner to open up shop, it's too "what if" to sink a bunch of money into. Besides, it's not like Monroe currently is a nightlife spot, there's one dive bar, and whatever you call that crap in San Carlos Hotel. Roosevelt has more residents in the neighborhood, there is more neighborhood synergy, and it's not a freaking dead zone at night on the weekdays.

[pbenjamin]

I would frequent it before games and concerts if it were on Monroe. Not so much on Roosevelt.

[combusean]

A reliable source relaying first-hand information has informed me that The Vig has shown interest in opening up in the Cavness House, former home to Tara's Garden, Palette, and Local Breeze at 606 N 4th Ave.

[HX_Guy]

Lots of info on a few downtown projects here. The first, on the office tower on the empty block between Collier's and Cityscape, talks about a new 400,000 sq ft office tower with maybe a small residential or retail component. A bit underwhelming at only 400,000 sq ft seeing how the Cityscape tower is 568,000 sq ft, so this would be roughtly 2/3 of the size.
They also want to have a big portion of it leased before they even start construction so who knows what the timing on this is.

Second part is a bit confusing...says Luhrs had plans for an office tower on the side "just west of US Airways Center"...do they mean the empty parking lot? Then it says they are moving forward with plans for a Courtyard by Marriott on the same site...so they are no longer demolishing the Luhrs Central Building to build it on that block? Plans for the office tower have been cancelled it seems (the cool new tallest that was to go between the Luhrs Building and Luhrs Tower).

Developers plan downtown Phoenix office building
Premium content from Phoenix Business Journal by Mike Sunnucks, Senior Reporter
Date: Friday, June 8, 2012, 3:00am MST


Owners of the Collier Center in downtown Phoenix want to develop a 400,000-square-foot office project on the undeveloped parking lot just north of US Airways Center.


Mike Sunnucks
Senior Reporter- Phoenix Business Journal
Email | Twitter | Facebook
Developers have pondered a big hotel, condos, apartments and even an urban-style Target store for the parking lot nestled in between Collier Center and CityScape in downtown Phoenix.
Now, the owners of the Collier Center and Bank of America office tower in downtown Phoenix want to build a 400,000-square-foot office building on the long-undeveloped parking lot just north of US Airways Center.
The commercial projects show market optimism toward downtown Phoenix even as other parts of the Valley’s real estate landscape struggle to rebound from the recession. Developers involved with the new projects also expect to go after city tax breaks to help get construction going.
In the latest incarnation of the plan, Naples, Fla.-based Barron Collier Co. would team with Ryan Cos. on a commercial office building. CBRE Commercial Real Estate Services will handle leasing on the proposed development, according to CBRE broker Jerry Roberts, who handles leasing at the Collier building a block west of the site.
Downtown Phoenix had a much lower vacancy rate (16 percent) in the first quarter than the Valley as a whole (27 percent), according to Jones Lang LaSalle.
Other developers also are considering hotel and commercial projects downtown, while outlying cities tend to be struggling. In addition, RED Development’s CityScape has performed well on the leasing front despite the down market.
Looking for a break

Collier developers also are expected to seek property tax breaks from the city of Phoenix and want to have a high percentage of the project preleased before construction.
This would be the first of a new round of commercial and residential developers seeking property tax breaks in the form of government property excise lease taxes, or GPLETs, or possibly other incentives to help them ensure a successful project is built even in a tough financing environment.
CityScape received tax breaks from the city of Phoenix to help get it built and worked with the developer to offer competitive leases to tenants.
There could be some small retail or residential components to the proposed Collier/Ryan office project, though economic development sources familiar with the plan say the primary space will be offices.
Representatives of Barron Collier and Ryan Cos. declined to comment on their downtown plans.
Luhrs plan moving ahead

The Irvine, Calif., company that is redeveloping the Luhrs properties at Central Avenue and Jefferson Street also had been considering a new office project just west of US Airways Center, but instead is cautiously moving forward with plans for a Courtyard by Marriott hotel at the site, said Raj Hansji, president of Hansji Urban and owner of the Luhrs buildings.
“We’re starting to look at it again,” he said.
Hansji also owns an office building on the site that was built in 1914, as well as hotels in Southern California and Las Vegas.
Hansji said his company is looking at market conditions and construction costs of developing the hotel. They could apply for city tax and incentive help. Construction could start next year, he said, and an office development was considered, but there are no plans to move forward on that front.
Also downtown, a San Francisco investment firm recently acquired foreclosed properties next to Chase Field for $4.75 million that were previously slated by developer Dale Jensen to become the Jackson Street Entertainment District. In addition, Evergreen Devco Inc. and Westroc Hotels and Resorts are deciding whether to redevelop the weather-beaten Hotel Monroe into a 150-room boutique hotel.

[PHX31]

/\Some good information. Nothing too exciting, because it's all speculative or planning info, which means either years of planning, or nothing will come out of it. But at least there is talk.

Regarding the lots west of the US Airways Center. This hopefully only includes the empty block still occupied by the barrister building. That other block just to the south still houses those old buildings (a hotel and the white stuccoed old building) on Madison. Those guys are desperately in need of TLC, or they're going to be razed quicker than a speculator can put pen to paper.

I read the "Images of America - Downtown Phoenix" book last night, which had quite a bit of interesting information in it. The white stuccoed building (seen below) was built in 1909 in a Victorian brick style. With a little facade rehab and some renovations, it would be an AMAZING building... one of the very few remaining in downtown Phoenix, and a true asset to the city. Of course, this means nothing and it will likely be destroyed. But, it has to be saved. Buildings like that are a dime a dozen in many cities, but here not many are left.

You can see the tall arched windows and the brick work "cornice" or "lip" on the top of the building. Imagine if it were brought back to being brick and renovated... it would be awesome!



It would make some awesome lofts if renovated, or, I can imagine a startup or some architectural design firm occupying the building. From the side you can see the brick work as it is only painted white. The front has the layer of stucco.



The hotel is decent too... albeit not quite as old as 1909... but the best thing is look how far back on the lot it goes.



EDIT: Looks like the owner of these lots is "Suns Legacy Properties". Maybe that's good (or bad?).

[PHX31]

/\ You can see what a little TLC, hard work, and money can do. This is the warehouse immediately south across the alley from the above buildings on Madison. Restored and occupied by Dudley Ventures.

http://www.dudleyventures.com/22_e_jackson.php

[exit2lef]

Originally Posted by combusean

A reliable source relaying first-hand information has informed me that The Vig has shown interest in opening up in the Cavness House, former home to Tara's Garden, Palette, and Local Breeze at 606 N 4th Ave.

Interesting. The challenge for every restaurant operating at the Cavness House has been the small kitchen. The Vig, however, probably has the resources to invest in expanding it. The place already has a bocce court, just like the two existing Vigs.

[Vicelord John]

There are signs in the windows on the north side of chase field that read "mountainside fitness - opening fall 2012"

[nickw252]

Good to see news on the lot east of CityScape even if it is speculation. I would prefer condos and/or an urban Target over an office tower, but a 27 floor office building would be a great addition to the area.

[pbenjamin]

Originally Posted by Vicelord John

There are signs in the windows on the north side of chase field that read "mountainside fitness - opening fall 2012"

There are signs inside as well, this was announced towards the end of last season. The space has been used for kids games, video arcade, etc. over the years.

http://www.bizjournals.com/phoenix/n...n-new-gym.html

[Vicelord John]

I don't do baseball.... so I'd never seen it.