Summit at Copper Square

[HX_Guy]

It's very possible. They might just not be working with a Realtor or not be listed on MLS.

[loftlovr]

http://armlslistings.marketlinx.com/...ilKey=59354686
I just reposted my own search HX Guy- I think you did it wrong....
Warehouses and 2 other cool buildings

[HX_Guy]

I stopped my search boundry at Buchanan and only wanted to show the true warehouses, not the office type buildings.

[loftlovr]

Originally Posted by HX_Guy

I stopped my search boundry at Buchanan and only wanted to show the true warehouses, not the office type buildings.

I only meant that when I click on yours it bounces me off the page into the MLS login page.
I didn't mean "my search was superior"!!!
I just included 2 other cool buildings when I reposted your stuff...

[HX_Guy]

Ok so I don't know how to link it properly.

[DJAProperties]

Well I am glad to see the price come down a bit on 101 E Buchanan, but even at $250K cheaper, it will still be tough to make numbers work, at least right now. The warehouse next door is for sale too, the one directly south of Stadium lofts. That one they want a flat $4million, or at least that is what the seller told me back in March. It too has not sold. But then despite being on the market for at least a year, 34 E. Jackson has recently raised their price from $8 mil to $9.9. It could be interesting with the whole entertainment district, but again, I cannot see a way to reasonably make the numbers pencil out at that starting figure when one considers the extensive renovation that would be required.

But back to Summit, I loved seeing the crain lifting right above me almost.




As regards vibrancy, I think that in the long run this will help. I know Orpheum did not help, but there were several things working against it. First was the fact that there were fewer units, and most of them were bought by investors during the start of the craze, therefor there really aren't many people living in the building at this time. We have no idea how many of Summit's units are investor bought, but I would hope that there will be a greater percentage of occupied units.

The second problem is a bit more "chicken and the egg" like. The people who do live at Orpheum get in their cars and drive somewhere else because "there isn't anything to do or eat downtown". I quote that because I know better, there are some great restaurants and night spots, but there aren't a lot yet, and those that are there sometimes have very funny, very early hours. They don't stay open because nobody sticks around, and nobody sticks around because nothing is open. The cycle will only be broken when enough people are there when they are open, that the businesses feel more comfortable risking being open late. At the same time, the residents have to take notice and support these risks when they are taken, and word of mouth needs to spread.

[HX_Guy]

Is there any ground floor retail planned for the Summit?


Great pictures as well! Looks like they are working on floor #17, still another 5 floors to add on top of that!

[loftlovr]

One thing I have found out is that the more I learn about "the other side" of the table meaning developers, the more I completely understand their pricing and gripe.
What I have not come to "Jesus" with is land speculators/ long term unrealistic land owners and warehouse/ historic building owners who demand exxagerated prices!
It bugs the shit out of me actually!
The finger may be pointed at their agents who may offer shitty pricing advice.

-But after one year on the market- C'mon! Reduce the price don't raise it!
Reminds me of the Trombetta building!

[DJAProperties]

Originally Posted by loftlovr

Reminds me of the Trombetta building!

Trombetta! That is the building across from the Stadium Lofts that I was talking about. I called on it since it was not listed, just had a for sale by owner sign. That was back in March I believe, and they told me $4 million. I love the look of it, but by the extensive masonry damage, and the fact that it is only about 20,000 square feet (but with a full basment!?), and the very little parking on the rest of the lot, I can't see what one can do with it. I mean just fixing damage would bring the total investment to near $6 million. Then what? As a night club you have to add millions more in equipment, as condos you would have to add a million more in interiors. Then you still have a parking issue because even if the city wants focus on public transit, they still enforce the excessive parking requirements more often then not.

[HX_Guy]

A picture showing the Summit in the background courtesy of AZCentral...

[loftlovr]

Originally Posted by DJAProperties

Trombetta! That is the building across from the Stadium Lofts that I was talking about. I called on it since it was not listed, just had a for sale by owner sign. That was back in March I believe, and they told me $4 million. I love the look of it, but by the extensive masonry damage, and the fact that it is only about 20,000 square feet (but with a full basment!?), and the very little parking on the rest of the lot, I can't see what one can do with it. I mean just fixing damage would bring the total investment to near $6 million. Then what? As a night club you have to add millions more in equipment, as condos you would have to add a million more in interiors. Then you still have a parking issue because even if the city wants focus on public transit, they still enforce the excessive parking requirements more often then not.

Hence my point-
I could see 2 million price tag.
-Then a developer could make it work...
-They're basing the price off of it's zoning. (For higher building)
-WHy not save the lot and the building and take a lower price?

[JimInCal]

Hello my Phoenix forum compadres. I'm in town visiting family over Thanksgiving and spent several hours downtown yesterday with my digital camera. I took a ton of pics of the Summit, from every side, angle and perspective that I could get. I will share some of the better pics when I get back home on Friday. The crane was really swingin. I just love the location and I've got to think it will help spur the development of the entertainment district.

[JimInCal]

As promised, here are pics of the Summit @ Copper Square from all sides and vantage points I could think of and get to. This hopefully provides a sense of its location between the baseball stadium, arena and the upcoming Jackson Street Entertainment District. I was there the Tuesday before Thanksgiving and the crew and the crane were smokin!:








You've got to admit...that's a nice looking garage on the left!






From the 6th floor roof of the arena parking garage.








From the ballpark plaza...my favorite shot






About to peek above from Jefferson


In front of Stadium Lofts










From the ballpark's south garage stairway

[BA744PHX]

Great photos!!!

[HX_Guy]

Excellent photos!

It looks like the elevator core is up to the 22nd floor, one more floor and it should be topped off and probably another 6 or 7 weeks and the whole building will be topped off.

[PHX602]

Great Job Jim! I especially love the ones next to the stadium lofts.

[PHX31]

Thanks for all the pictures! A few of them show how well it will fit in the area... I can't wait for the Entertainment District to expose itself a little better.

[oliveurban]

Great photos Jim, thanks for the updated photos.

You need to visit the fam more often .

[Azndragon837]

Jim, excellent photos of Summit, and a nice update from several vantage points. Keep up the excellent work. I would update our page with pics, but I need to buy a new camera first.

-Andrew

[HX_Guy]

You gotta love Summit's real time webcam, not only does it update instantly 24 hours a day, but they even move it around to get a better angle.

44 Monroe, start taking some notes.


This is from a few minutes ago, they are working on the 18th floor which you can see in the left corner. The elevator shaft is probably topped off now, it looks pretty tall going down I-17 S, a little taller then Chase Field.