“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “
Joshua Bowling, The Republic | July 21, 2017 |
Corrections & clarifications: The developer for the Winfield Hotel and Residences is 4221 Associates AZ LLC. Davis is an architectural design firm and the architect on the Winfield Hotel project. The developer’s name, and Davis’ role in this project and two others, were incorrect in a previous version of the story.
Downtown Scottsdale could see more tall buildings and changing nightlife options in the next year.
Three projects are expected to break ground in the next year, although two of the residential developments still need the city’s OK to rise more than six stories.
Livewire to become restaurant, bowling alley
Livewire, which opened in2014 in Indian Plaza, closed in July and is expected to re-open in December as a Mexican restaurant and bowling alley.
Scottsdale-based Evening Entertainment Group still owns the venue, but wanted to switch gears. The venue has hosted smaller concerts, with a capacity of 1,100, ranging from hip-hop group Bone Thugs-N-Harmony, to actor Jeff Bridges and reggae artist Shaggy.
“There’s such a large live music scene in the Valley and it was harder than we thought,” said Jeff O’Neil, Evening Entertainment Group operations manager.
Evening Entertainment Group also owns The Mint, Hi Fi Kitchen and Cocktails and Bottled Blonde night clubs in downtown Scottsdale, according to city records.
Casa Amigos at the former Livewire will serve Mexican food on the bottom level with access to the second-floor Sky Lanes bowling alley, O’Neil said.
The project requires approval on tweaking the floor plan and adding an outdoor patio, which will go to the council in August.
Luxury apartments at Peacock Scottsdale
Scottsdale-based developer Deco Communities first submitted plans for Peacock Scottsdale in December 2016.
The proposed apartments at 7433 N. Scottsdale Road would be a stone’s throw from Scottsdale Fashion Square mall.
The project requires city approval for two 10-story apartment towers. Most buildings in Scottsdale must be under 60 feet or get special approval from the City Council.
In exchange for additional height, city policy requires developers to provide a “public benefit,” whether road improvements, parking or public art.
Rob Lyles, Deco founder and senior partner, said he couldn’t discuss much of the project, which goes before the Development Review Board in August, and said he wasn’t sure which public benefit the project would provide.
Lyles said the project would include 160 units averaging 1,125 square-feet each and 2,000-square-foot penthouses.
Lyles said he’d like to break ground in the first quarter of 2018.
Deco Communities also developed Inspire Downtown Scottsdale and Edison Midtown in Phoenix, both luxury condo projects.
Winfield Hotel and Residences
Edwards said developers plan to provide improvements to Scottsdale Road as a public benefit, in exchange for the nine-story building height.
“I was on the planning commission for six years so I’m well aware of those concerns (surrounding tall buildings),” he said. “When you’re putting tall hotels downtown in a business district, though, they’re not near single-family homes and you’re getting bed tax from the hotels, (and) tourists are going and supporting the restaurants and the galleries.”
Edwards said he hopes the developer breaks ground next summer.
Many of the project’s amenities will be hammered out once the proposal moves through the city process, he said.
However, the first floor is expected to have a hydroponic farm, growing crops indoors without soil, Edwards said.
“You can grow 24/7 and not have to depend on nature,” he said. “The cafe is going to be stocked with food from the hydroponic farm.”
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
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- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
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Walter Unger CCIM
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