Breaking Ground

I heard the new office building at 1st Street and Van Buren (Northwest corner) is scheduled to break ground in less than 60 days and CitiScape is breaking ground soon on it's 1st phase.  In case you forgot, CitiScape is the property between Washington and Jefferson that also incorporates Patriots Park.  Both projects are going to provide badly needed office space in Downtown Phoenix. 

I think these projects breaking ground will generate some excitement again about Downtown.  It's great to see all the cranes downtown but it's been the same ones for the last year.  With some new projects starting I think people waiting to buy homes or condo's in Downtown will start looking again even with the mortgage crisis we have.

Comments

[Rob Yee]

I am awaiting the day for the Phoenix real estate market to turn around. But I am still concerned with the oversaturation of luxury condos in the downtown and central areas. With many of those already built and having diffculty selling (ie, Tapestry), it is a but alarming to hear about new developments bringing in potentially 1000 units within half a mile of each other.

Early proposals are for two 500 foot towers East of Central between Willetta and
McDowell by developer SW Development Group. It is a proposed mixed use project, featuring residential high rise with commercial/retail use at the lower levels. Approximately 670 units are proposed for two 500 foot towers.

And up the street at NW Corner of Central & McDowell, B.S.R. Group is proposing a 3-tower complex, pool, fitness club, business center, private theater rooms and guest suites with ~1000 units. (http://www.bsr-group.com/projects/Phoenix/Phoenix.html)

Of course, we know these are just proposals and some are not due to complete until 2012, but it makes you wonder if Phoenix can sustain the glut that other cities like Las Vegas and San Diego have not been able to.

[Chris Campbell]

From what I've heard the Light Rail is still on schedule. They aren't going to start taking any passengers until the whole thing is done in December of 2008 so we're a little over a year away. In the meantime, they have a lot of track laid and you will be seeing trains on it for testing.

As for it going up Scottsdale Road, I'm all for it. Unfortunately, the shortsighted locals in Scottsdale are mostly opposed to it. Actually if you really want to get them fired up we can start supporting a elevated high speed train. That'll get'm going.

[Dave Mx]

How's the light rail coming down there? I saw some train cars being rolled around near some hub-looking thing on Washington (I think).

I know a lot of people hate the light rail because of its cost and potential lack of use, but personally I'm excited. I love trains!

I think they really should have made a light rail line from Mill Ave to downtown Scottsdale and then up Scottsdale Rd all the way to Kierland Commons and the 101. That would have been very useful. Well, at least to drinkers like me along the Alcohol Corridor.