Phoenix CityScape Thread

[renone]

RED did a presentation at my office about CityScape last week. I should have had you all submit questions for me to ask, but I didn't think I was going to be able to make it. A couple of things:

1. The third block was not mentioned as something in the works at this time. The parking garage was supposed to span all three blocks, but apparently there were huge APS power lines under 1st street that were not on any of the city plans that could not be moved, so the parking garage will not go under 1st street. They are still planning on having the parking garage go under Central, unless something unforseen happens.

2. The building will not be the new tallest. I think he said it will be 410 feet. All of the FAA hurdles are clear.

3. Wachovia is slated to move in January of 2009, with Squire moving in March of 2009.

4. The parking garage below PSP will be given a "shave and a haricut". It will be waterproofed so it stops leaking and will get a paintjob and other needed maintenance. RED has already taken posession of the garage. The parking garage will be open with only one entrance and exit for the next 12 months and will not be closed at all during construction.

5. Kimpton hotels is on board. The structure above PSP is definitley still going forward. They are commited to getting a nice resturant to compliment PF Changs. Mike Ditka was in town to determine if this would be a good place to open a new "ditkas" restaurant. Whatever it is, it is going to be upscale.

6. The PF Changs will look simialr to all of the others, but will have a very large sushi bar that will be unique.

7. RED has been contacted by Walgreens, CVS, Osco etc. about leasing space, and RED is committed to not having anything like that at Cityscape. Upsclae only (i.e. Sauce).

8. The presenter ensured us that the new hotel would be much nicer than a certain hotel that was recently built.

9. The ped. bridge over central is back in the plans after being scrapped due to height concerns.

I actually left feeling pretty jazzed.

[HX_Guy]

Hmm, I didn't know that the ped. bridge was temporarily scrapped.
A bit weird that they turned down the Walgreens, etc...true those aren't destination places but they are definitely needed downtown, hopefully one will pop in the ground floor of the Aloft hotel, if that ends up being built.

Any word on the residential part of the project?

[AZ KID]

Thanks renone.
I still dont understand the height of the hotel residential tower. I mean downtown definitely needs more hotel rooms and the faa aproved the building to be 100' taller than that. It just puzzles me

[PHX31]

If Wachovia moves in in January 2009 I'll take everyone on this forum out for a drink at the Roosevelt. I'd be surprised if this thing is above ground level in January 2009.

[renone]

The residental portion is still going forward. He called it a "leap of faith". I don't remember the details, sorry.

[HX_Guy]

Originally Posted by PHX31

If Wachovia moves in in January 2009 I'll take everyone on this forum out for a drink at the Roosevelt. I'd be surprised if this thing is above ground level in January 2009.

Shit, you're right...I don't know why initially I thought that seems like so far off, but that is what, 8 months away? No way is that realistic, especially since the digging isn't even supposed to be finished until the end of May.

[PHX NATIVE 929]

Thanks for the update renone. This project excites me more than anything else downtown. I am surprised that RED is apparently straight-arming interest from drug stores. Seems like a natural fit to me. Hard to believe they're in a position to turn away tenants.

[HooverDam]

It is disappointing to hear that RED doesn't want to do a new tallest even though it would be approved by the FAA, ah well, just more lack of vision from Phoenix's 'leaders.'

Its also a bit strange that Drug stores want to open up downtown and RED doesn't want them.

I always thought the lot here:


Would be good for a drug store. Its sort of in the epicenter of the downtown hotels and soon to open hotels, so it would be convenient for downtown tourists. I know that lot is limited in height to preserve views for the Phelps Dodge tower, so a drug store seems like a good fit.

I know thats the lot where some condos (CU2) where potentially going to go, I'm not sure if thats still in the works or not. If I had money and control of that what I'd do is put a drug store on the first floor (or perhaps 2, since its a smallish lot w/ an odd shape) and above it a row of 2 or 3 story condos (depending on what exactly the height limit is). Then I'd have the drug store include a soda fountain/diner on the ground floor like they used to, as it would be a great spot for people leaving clubs late at night to grab a 2AM burger and fries and sober up, keep visiting with friends, et cetera.

[AZ KID]

Yeah it doesnt make sense to me either. If cityscape is going to make an impact I dont see how only allowing really upscale places to be tenants is going to help. I think a variety of stores is needed.

[admdavid]

That's the lot where the Aloft hotel is supposed to go, I believe.

[HX_Guy]

Originally Posted by HooverDam

Would be good for a drug store. Its sort of in the epicenter of the downtown hotels and soon to open hotels, so it would be convenient for downtown tourists. I know that lot is limited in height to preserve views for the Phelps Dodge tower, so a drug store seems like a good fit.

I know thats the lot where some condos (CU2) where potentially going to go, I'm not sure if thats still in the works or not. If I had money and control of that what I'd do is put a drug store on the first floor (or perhaps 2, since its a smallish lot w/ an odd shape) and above it a row of 2 or 3 story condos (depending on what exactly the height limit is). Then I'd have the drug store include a soda fountain/diner on the ground floor like they used to, as it would be a great spot for people leaving clubs late at night to grab a 2AM burger and fries and sober up, keep visiting with friends, et cetera.

CU2 has been scrapped but a new project, Aloft Hotel, is now on the drawing board. It will be a five story building with ground floor retail and they are trying to get a drug store to fill that spot.

I like your idea of a late night burger place in that area, seems like a great fit and I don't think anything like that exists right now.

[HooverDam]

Originally Posted by HX_Guy

CU2 has been scrapped but a new project, Aloft Hotel, is now on the drawing board. It will be a five story building with ground floor retail and they are trying to get a drug store to fill that spot.

I like your idea of a late night burger place in that area, seems like a great fit and I don't think anything like that exists right now.

Thats right, I had totally forgotten about the Aloft hotel! I guess there's just so much going on downtown I can keep it straight.

After hanging out at the Mill Ave Cue Club one night, I noticed at 2am everyone from all the clubs wandered around the corner to Slices and the other eateries right around there. Downtown Phoenix needs something like that for all the people who will be exiting Hannys, the new clubs along Washington, etc.

[sundevilgrad]

I wonder what this means for the current projects (i.e. Cityscape)...
http://www.baltimoresun.com/business...,2345831.story

[sundevilgrad]

Originally Posted by HX_Guy

Shit, you're right...I don't know why initially I thought that seems like so far off, but that is what, 8 months away? No way is that realistic, especially since the digging isn't even supposed to be finished until the end of May.

Will Wachovia even be in business at that time?

[Loveithigh]

Originally Posted by PHX31

If Wachovia moves in in January 2009 I'll take everyone on this forum out for a drink at the Roosevelt. I'd be surprised if this thing is above ground level in January 2009.

Hey - I will share in the drinks if Wachovia actually moves in next January. If anything I will be good for the second round!

[PHX NATIVE 929]

From Cityscape's website:

"CityScape has already attracted two of the most well-known businesses in the Valley - A.J.'s Fine Foods and P.F. Changs China Bistro. Wachovia Corporation will open a regional headqurters in early 2010. Squire, Sanders & Dempsey L.L.P is moving its Phoenix office to One East Washington. The world-renowned Kimpton Hotels & Restaurants will operate a Hotel Palomar within the project."

[HX_Guy]

Looks like RED fixed the tenant list...

Grocery

AJ's Fine Foods
www.ajsfinefoods.com

Hospitality

Kimpton - Hotel Palomar
www.kimptonhotels.com

TWELVE
www.twelvehotels.com

Office

Squire, Sanders & Dempsey L.L.P.
www.ssd.com

Wachovia Corporation
www.wachovia.com

Restaurants

P.F. Chang's
www.pfchangs.com

[HX_Guy]

I'm wondering...what other big tenant does Cityscape have lined up that they aren't releasing yet? If you look at the top of the residential/hotel tower...there is a logo/name that is filtered out.

The same was true for the renderings of the Wachovia tower and Hotel Palomar before they were announced...the names were already in the renderings but they weren't legible.

[PHX31]

/\Doesn't that top rendering show CityScape spanning 3 blocks? Now it is only two... Excuse my lack of following of the wheelings and dealings of this project, but they have axed those other condo buildings, right? (they looked the coolest, imo).

[gymratmanaz]

first two blocks are phase one and two...third block to follow