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  #61  
Old Posted Jun 17, 2011, 6:59 PM
HX_Guy HX_Guy is offline
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I thought this is where the new housing that is aimed at ASU students is being built? What happened to that?
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  #62  
Old Posted Jun 17, 2011, 7:06 PM
Vicelord John Vicelord John is offline
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How old is the RFP?
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  #63  
Old Posted Jun 17, 2011, 7:17 PM
dtnphx dtnphx is offline
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This is on the agenda for the 6/22 COP general meeting.
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  #64  
Old Posted Jun 17, 2011, 9:12 PM
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combusean combusean is offline
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Why the hell does there need to be an RFP for this project? Is it now impossible for a private developer to build anything downtown without *some* sort of public assistance?
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  #65  
Old Posted Jun 17, 2011, 9:24 PM
Vicelord John Vicelord John is offline
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Quote:
Originally Posted by combusean View Post
Why the hell does there need to be an RFP for this project? Is it now impossible for a private developer to build anything downtown without *some* sort of public assistance?
They're really setting the precedence for the future. Developers are going to have their hands out all the time if this shit keeps up.
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  #66  
Old Posted Sep 6, 2011, 2:34 AM
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PhxDowntowner PhxDowntowner is offline
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Unfortunately I can't link to this because the links on the CoP Public Notice page change every night as meetings cycle off. But below is one of the agenda items for Wednesday morning's meeting of the DT, Aviation, & Economy subcommittee:

Quote:
Downtown, Aviation and Economy Subcommittee, September 7, 2011, Item 6.
CITY COUNCIL REPORT

TO:
David Krietor
Deputy City Manager

FROM:
Paul Blue
Community & Economic Development Director

SUBJECT:
AUTHORIZATION TO ENTER INTO AGREEMENTS WITH CONCORD EASTRIDGE FOR THE TRANSIT ORIENTED DEVELOPMENT OF THE SOUTHEAST CORNER OF ROOSEVELT AND THIRD STREETS IN DOWNTOWN PHOENIX


Staff requests the Downtown, Aviation and Economy Subcommittee recommend City Council authorization to enter into Agreements with Concord Eastridge (Developer) for the transit-oriented development of the southeast corner of Roosevelt and Third streets in downtown Phoenix.

THE ISSUE

In July 2011, the Community and Economic Development Department (CEDD) issued a Request for Proposals (RFP) for the transit-oriented development of a block and a half area bounded by Third, Fourth, McKinley and Roosevelt streets in downtown Phoenix.

The proposal submitted by Concord Eastridge was deemed responsive and includes the private development of two, seven- to eight-story residential towers, a five-story parking structure and common areas/amenities, such as open space and two swimming pools. The project consists of approximately 327 market-rate rental residential units, a 433-stall parking garage and 5,000 square feet of ground-floor commercial space to open by the fall of 2013.

This project represents an approximately $52 million private investment. It will redevelop a vacant “gateway” block in downtown Phoenix, add approximately 600 residents, create about 450 construction-related jobs and generate millions of dollars in new economic activity, both through immediate public infrastructure upgrades and long-term resident spending with local businesses.

OTHER INFORMATION

CEDD intends to take ownership of the Developer’s land and improvements for a period of 25 years from completion of construction, leasing the project back to the Developer via the state Government Property Lease Excise Tax (GPLET) program. The excise tax will be abated the first eight years and the City will begin collecting lease revenues beginning the second year of $10,000 annually, increasing 5 percent per year. These funds would be deposited in the Community Reinvestment Fund to support ongoing strategic redevelopment. At the end of the term, the City will convey the property back to the Developer at no cost to the City.

The Developer will provide the City with construction documents by February 2012 and will commence construction in May 2012 in order to open the project to residents by fall of 2013. This project represents a significant private capital investment in our community. It will provide high-quality living opportunities walking distance to the Roosevelt light rail station as well as ASU and Phoenix Biomedical campuses, in addition to removing blight and generating revenues for the City.

RECOMMENDATION

Staff requests the Downtown, Aviation and Economy Subcommittee recommend City Council authorization to enter into Agreements with Concord Eastridge (Developer) for the transit-oriented development of the southeast corner of Roosevelt and Third streets in downtown Phoenix.
My question is, what does this mean? I thought Concord Eastridge bought the land. That's how it sounded in their zoning hearing and it's what it sounded like when I was emailing with their zoning attorney and regional VP. So why/how is the City leasing it to them? I'm so confused.
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  #67  
Old Posted Sep 6, 2011, 3:58 AM
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^ The Government Property Lease Excise Tax is a common incentive for new developments in redevelopment areas downtown. The developer transfers the property to the city once constructed and pay a lease rate, the Excise Tax, that would be significantly cheaper than they would otherwise pay in property taxes. The lease term is as many as 30 years. The money is deposited into the Downtown Community Reinvestment Fund or something like that typically. I don't know what comes out of that fund. Obviously nothing tangential.

The GPLET is used *all* over downtown (Cityscape, AZ Center, Freeport McMoran, Luhrs I think, the Wyndham was looking for it to redevelop their property) and partly explains the vastness of the city-owned property downtown. It significantly shortchanges local districts by removing those properties off the tax rolls and seems to entrench an inferiority complex. Tempe used the GPLET once for West Sixth and I've never heard it used in Scottsdale or anywhere else.

As for the Concord Eastridge project itself, I've been wondering what's up with it. The For Sale signs are still on the lot. I am disappointed that there is only going to be 5,000 sqft of retail. For about a 110,000 sqft of lot that's not much.
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  #68  
Old Posted Sep 6, 2011, 5:30 AM
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phxSUNSfan phxSUNSfan is offline
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Also disappointing is 433 parking spaces...TOD development on the West Coast is usually disappointing anyhow.
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  #69  
Old Posted Sep 6, 2011, 3:34 PM
Leo the Dog Leo the Dog is offline
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Quote:
Originally Posted by phxSUNSfan View Post
Also disappointing is 433 parking spaces...TOD development on the West Coast is usually disappointing anyhow.
My thoughts exactly.

Quote:
The project consists of approximately 327 market-rate rental residential units, a 433-stall parking garage
106 extra parking spots. That's going to encourage pedestrian activity and use of the transit system...
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  #70  
Old Posted Sep 6, 2011, 5:22 PM
Vicelord John Vicelord John is offline
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Quote:
Originally Posted by Leo the Dog View Post
My thoughts exactly.



106 extra parking spots. That's going to encourage pedestrian activity and use of the transit system...
I'm sure the residents would like to have visitors. The first few projects are going to be like this. Maybe in a few years, as more lots are filled up, and people adapt to transit better, future projects will have less parking.

For now, it's a necessary evil in order to lease units.
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  #71  
Old Posted Sep 6, 2011, 7:46 PM
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So is the Concord Eastridge project dorms or apartments? At first it was described as apartments, then it was off campus student housing, now it sounds like apartments again.
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  #72  
Old Posted Sep 14, 2011, 9:22 PM
HX_Guy HX_Guy is offline
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The Concord Eastridge project has some permits that are already in the works...nothing concrete yet but it's a starting point...

ADDR-110052 8/5/11 OPEN CONCORD EASTRIDGE DOWNTOWN HOUSING
PAPP-1102010 7/19/11 OPEN CONCORDE EASTRIDGE DOWNTOWN HOUSING
PRLM-1102437 9/2/11 OPEN CONCORDE EASTRIDGE DOWNTOWN HOUSING


The address is listed as:

333 E Roosevelt St (Building north of Garfield St)
888 N 4th St (Building south of Garfield St)


The project is described as:

North block - 7 story multifamily housing bldg
440 stall parking structure 4.5 level
Ground floor retail

South block - 8 story multifamily housing bldg

Both housing bldgs have compunds with pools (outdoors)
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  #73  
Old Posted Sep 15, 2011, 3:29 AM
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PhxDowntowner PhxDowntowner is offline
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FYI:
The Concord Eastridge project has a zoning hearing Thursday morning 9am @ City Hall, 1st floor.

They are requesting a deeper setback off of Roosevelt because of the (inexplicably above ground) power lines that impede their ability to build to the street. Not acceptable. The power lines must be buried. (Or the no-build zones must be reduced.)

They're also going in for a 2nd variance request -- something about ROW usage for loading/unloading/trash or something. Not sure what that one's all about yet. Looks like I'll have to go and see.
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  #74  
Old Posted Oct 14, 2011, 3:28 PM
HX_Guy HX_Guy is offline
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Looks like this is getting more real...

Quote:
Ayers Saint Gross to design student housing in downtown Phoenix
Phoenix Business Journal by Jan Buchholz, Reporter

Ayers Saint Gross    , a planning and architecture firm, has been selected to design a student housing project being developed by Concord Eastridge in downtown Phoenix.
Ayers Saint Gross has released renderings of the 325,000-square-foot facility, which will provide housing to students at Arizona State University    ’s downtown campus and the University of Arizona College of Medicine–Phoenix. Click the image above to see three renderings of the project.
The development is bounded by Third, Fourth, Roosevelt and McKinley streets. It will provide housing for about 600 people and include a 400-stall garage.
Features include two swimming pools, fitness facilities and lounges. There will be about 7,500 square feet of retail space at street level.
The project is scheduled to be completed in time for the 2013 fall semester.




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  #75  
Old Posted Oct 14, 2011, 3:48 PM
gymratmanaz gymratmanaz is offline
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Exciting and Impressive. This is what we need in this area. This will be a great addition in many ways - More people downtown, Cleaning up a messy 2 blocks, adding more retail opportunities, Bridging outward from the downtown core to the neighborhood sections, and adding the ability to house and keep expanding ASU! .... Plus we could use another project to watch while we wait for the next big project to kick in!!!!
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  #76  
Old Posted Oct 14, 2011, 4:04 PM
HX_Guy HX_Guy is offline
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Quote:
Originally Posted by gymratmanaz View Post
Exciting and Impressive. This is what we need in this area. This will be a great addition in many ways - More people downtown, Cleaning up a messy 2 blocks, adding more retail opportunities, Bridging outward from the downtown core to the neighborhood sections, and adding the ability to house and keep expanding ASU! .... Plus we could use another project to watch while we wait for the next big project to kick in!!!!


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  #77  
Old Posted Jan 28, 2012, 8:22 AM
Jjs5056 Jjs5056 is offline
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Wasn't the developer of the Concord Eastridge project on Roosevelt trying to get a variance for a larger setback? Any word on that?
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  #78  
Old Posted Feb 12, 2012, 12:02 AM
nickw252 nickw252 is offline
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Concord Eastridge lot with fence around it.



Across the street the building is under construction.
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  #79  
Old Posted Mar 4, 2012, 5:36 AM
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Looks like more housing downtown.

http://www.azcentral.com/business/ar...partments.html
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  #80  
Old Posted Mar 4, 2012, 5:57 AM
Vicelord John Vicelord John is offline
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Originally Posted by PHX View Post
welcome to the party, what'll ya' have to drink?
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