There’s a loud and steady drumbeat in Downtown Phoenix. It’s music from a concert or festival. It’s the clinking of glasses on restaurant patios. It’s the bustle of students trying to make it to class on time. It’s the “beep beep” of construction crews building new and renovating old.
It’s the sound of progress.
Downtown Phoenix is in the midst of a cultural and developmental boom. From large-scale projects like the Biosciences Partnership Building, Arizona School for Law and Society, Union @ Roosevelt and Luhrs City Center to major events like Super Bowl Central, VIVA PHX, McDowell Mountain Music Festival and Comicon, there’s overwhelming evidence to support the idea that Downtown Phoenix is growing into a broader, more interesting, and more textured community.
Consider these numbers:
Downtown Phoenix is part of a national trend that is seeing millennials and baby boomers seeking out live/work/play urban lifestyles.
“Downtown Phoenix has been growing for 10 years with investments from both the public and private sectors,” said Dan Klocke, Downtown Phoenix Inc.’s vice president of development. “Right now, what we’re seeing is all that effort meeting up with demographics.”
Survival rates for victims of cardiac arrest are increasing dramatically – all because of research being done right here in Arizona. You can learn about that and how to do CPR at the next session of Mini-Medical School 2.0 at The University of Arizona College of Medicine – Phoenix.
Mini-Medical School 2.0 is a community lecture series held by the downtown Phoenix medical school that covers various cutting-edge health topics. The lecture take places on Wednesdays, from 5:30 to 7:00 p.m. in the Virginia G. Piper Auditorium at the College of Medicine – Phoenix campus. The event is free.
The second spring session, on April 1, will feature a lecture from Bentley J. Bobrow, MD, who has been the medical director of the Bureau of Emergency Medical Services and Trauma for the Arizona Department of Health Services. He has been instrumental in studies conducted by the university’s Arizona Emergency Medicine Research Center. Dr. Bobrow will discuss the increasing survival rates from cardiac arrest. Attendees also will have the opportunity to learn chest compression-only CPR on mannequins.
To register, please click here.
The stakes keep getting higher for the Valley’s best and brightest startup companies as they compete to win free office space alongside innovation leaders like Uber at 111. W. Monroe in Downtown Phoenix. After receiving dozens of entries for the StartUp PHX Challenge, organizers have decided to extend the contest to Wednesday, April 15th. A top-tier panel of Phoenix-based business experts will review the applications before selecting a winning tenant that will be announced on Monday, April 23rd.
“We have received applications from some aspiring game changers in the startup world,” said Tim O’Neil of Ironline Partners. “From app developers to fashion designers, creative entrepreneurs are ready to take the next step in growing their brands by taking physical office space and adding more employees,” he said.
The winner of the StartUp PHX Challenge will call the 12th floor of 111 W. Monroe their professional home, with a fully-furnished 1,200 square foot office space featuring panoramic city and mountain views. In addition to six free months office space, Goodman’s Interior Structures, another Phoenix-based company passionate about doing good and fueling growth, will provide a complete office furniture system.
Ownership, which includes Ironline Partners, is delivering a best in class, amenity rich property with five star customer service, at competitive pricing. The team acquired the 50-year-old office tower in April 2014, favoring the property’s core urban location and functional configuration, which is ideal for both large corporations and small, entrepreneurial businesses.
“We love being part of the new, dynamic Phoenix CBD,” O’Neil said. “The next generation of business owners is making its mark here, and collaborative work space, with modern amenities and social environments is the new norm.”
Startups are encouraged to enter the StartUp PHX Challenge by applying online on the 111 W. Monroe website. Complete application, contest rules, details and restrictions are available at: www.111westmonroephoenix.com/startupphxchallenge
Phoenix will soon see new life breathed into a warehouse property in the downtown core. The building, located at 841 E. Jefferson, was recently purchased by Ironline Partners for $3 million. The local developer has plans to convert the property into a modern, relevant space for the right tenant.
Kevin Calihan with CBRE’s Phoenix office negotiated the sale on behalf of Ironline Partners. Kevin Lange with Keyser Commercial and Rod Beach with Cresa represented the seller, Phoenix-based Jefferson Partners, LLC. Bryan Taute and Charlie von Arenstchildt, also with CBRE, will handle the marketing and leasing assignment on the redeveloped property.
841 E. Jefferson was formerly home to Goodman’s Furniture and served as a showroom and warehouse. However, Ironline Partners believes the property is ideally located for redevelopment in the dynamic central business district. Situated at the southwest corner of Jefferson Boulevard and 9th Street, the property is next door to Chase Field, right on the Metro Light Rail line and steps from numerous retail amenities.
“Downtown Phoenix has seen significant revitalization over the last several years and adaptive reuse projects like the one planned at 841 Jefferson have played a major part in that revitalization,” said Bob Karber, Principal with Ironline Partners, whose other redevelopment projects include 2828 N. Central and 111 W. Monroe, both in central Phoenix.
According to the Downtown Phoenix Partnership, more than $4 billion has been newly invested in office space, retail, restaurants, educational facilities and convention space and hotel rooms in the area. This investment has transformed Downtown Phoenix into a center for employment, education, professional sports, living, and arts and culture. The dramatic changes over the past five years are providing a surge in momentum for additional development. 841 Jefferson looks to capitalize on that momentum.
“An economically strong central business district is a vital component to a metropolitan area’s overall economic growth,” said CBRE’s Calihan. “As people return to city centers, so do office users. 841 E. Jefferson will be able to offer employers the unique and creative office environment their target employee base is looking for. In fact, several tenants have already shown interest in the space.”
841 E. Jefferson boasts 25-foot, wood-truss ceilings and an open-concept floor plan. Initial design plans show large banks of windows and rolling-overhead glass doors to be added during renovation to ensure maximum exposure of natural light and the creation of cross-functional indoor/outdoor space.
The existing building is approximately 48,500 square feet, but development plans call for the addition of a mezzanine, which will bring the building to 60,000 square feet. The building will offer potential users heavy parking, which can often be difficult to find in urban environments. The property’s parking along with direct access to the Metro Light Rail will serve high-density users well, meaning 841 Jefferson has the potential to bring hundreds of new employees to Downtown Phoenix.
Development of 841 E. Jefferson is slated to begin this quarter.
Portland on the Park, the highly anticipated sister property to Downtown’s award winning Portland Place, has received significant interest from potential homebuyers with 25 units already reserved. The property also has noted a surge in requests for larger floor plans, and in response, has redesigned selected homes. This change led to the creation of four new premium floors called “Club Level Residences” which feature penthouse floor plans. Although the number of total units has decreased from 170 to 149, the overall livable square footage of the property has increased with many of the new floor plans offering more space. Construction of the four-building property will begin this spring and is slated for completion in the summer of 2016.
“Our buyers are sophisticated and know exactly how they want to live,” says David Newcombe of Habitat Urban, designated broker for Portland on the Park. “The interest to live Downtown has been tremendous. Premium buyers are seeking urban amenities and comfort, yet still want a spacious home with lock and leave convenience. By actively listening to our future homeowners, our developers made floor plan changes that meet the needs of this exciting market. It’s refreshing to be involved with a project that is so engaged in Downtown, and is focused on doing what’s best for the neighborhood and the city.
Portland on the Park will consist of four interconnected structures including four-, 12- and 14- story towers with a five-story parking garage for resident and guest use. High-end touches are standard throughout the Tower Residences, Club Level Residences and Penthouse Suites and include things like reclaimed hardwood flooring, quartz counters, soft-close cabinetry and frameless glass showers. Most homes will have a private six-foot deep outdoor balcony, with some measuring more than 40 feet in length.
The urban living project is situated between the three-acre Portland Park and the 32-acre Margaret T. Hance Park along Central Avenue. It will be a welcome addition to the Central Arts District and neighboring Roosevelt Row, the nationally acclaimed arts community. Home sizes range from 745 to 2,490 square feet with 21 floor plans from which to choose. Tower and Loft Residences begin in the low $200,000s with Penthouse Suites available under $1 million.
University of Arizona President Ann Weaver Hart and Phoenix Mayor Greg Stanton today announced that the economic impact of the UA’s downtown Phoenix academic medical center in 2013 was $961 million, according to a report released by nationally recognized consultants Tripp Umbach.
“Our College of Medicine and the academic medical center have become key generators of economic impact for Phoenix and Arizona,” said President Hart. “It is through the great support of the city, the state and our partners in the medical center that we have been able to achieve this kind of impact.”
The Tripp Umbach report outlines the impact of the health science colleges and the surrounding academic campus as defined by the City of Phoenix master plan that includes education, research and clinical facilities over a designated 28-acre area.
Among the findings:
• The economic impact of the overall biomedical campus in downtown Phoenix in 2013 was nearly $1.3 billion, of which $961 million is attributed to the UA College of Medicine – Phoenix presence.
• In 2013, the academic medical center accounted for 9,355 direct and indirect jobs. The UA College of Medicine – Phoenix is responsible for 7,185 of those jobs.
• The academic medical center generated more than $56.5 million in state and local government revenues in 2013 as a result of operational, employee and visitor spending. Of that total, $44.5 million is attributable to the UA College of Medicine – Phoenix.
• The estimated economic impact of the academic medical center will reach $3.1 billion by fiscal year 2024-25.
The report was commissioned by the UA College of Medicine – Phoenix and the City of Phoenix.
“The activity on the downtown biomedical campus puts top-notch health care and the best-trained health professionals in our backyard, but it also creates high-value jobs in our city,” said Phoenix Mayor Greg Stanton.
The Phoenix Biomedical Campus plays host to four UA health science colleges – the Mel and Enid Zuckerman College of Public Health as well as the colleges of nursing and pharmacy. Also on campus are three NAU programs – physician assistant, physical therapy and occupational therapy as part of the university’s College of Health and Human Services. Arizona State University’s School of Nutrition and Health Innovation is housed in the Arizona Biomedical Collaborative south of the Translational Genomic Research Institute (TGen).
The Biosciences Partnership Building is the latest development in the steady expansion of the downtown Phoenix campus and emerging academic medical center. In 2012, the award-winning Health Sciences Education Building opened, housing health education for both the UA and Northern Arizona University. Construction continues on The UA Cancer Center at Dignity Health St. Joseph’s. The cancer center, a 220,000-square foot outpatient and research facility, is scheduled to be completed in 2015.
A venture formed by Wood Partners in Marietta, Ga. (Ryan Dearborn, CEO) plans to develop 220 apartments at the southeast corner of N. 7th Avenue and W. Fillmore Street in downtown Phoenix. ALTA Fillmore LLC (Wood Partners entity) assembled the 4.09-acre site in two cash transactions totaling just under $4.8 million. Morgensen Inc. in Cody, WY, sold 3.14 acres for $3.685 million. That parcel is occupied by a roughly 30,000-square-foot commercial building that will be razed. Junction LLC in Carefree sold a nearly 1-acre parcel to complete the assemblage. That property, with an address of 345 N. 7th Avenue, sold for $1.11 + million. The land is now occupied by a 6,000 square-foot commercial structure that will also be demolished. Wood Partners was represented in the transaction by Kim C. Kristoff of NAI Horizon in Phoenix. Newmark Grubb Knight Frank in Phoenix represented the sellers.
The proposed apartment project will anchor the northwest corner of the Downtown Core while enhancing quality lifestyle by enhancing the potential of a live and work community with access to Downtown community activities only a short walk away. Todd Taylor, Wood Partners, realizes the potential of Downtown Phoenix, “We are very excited about this real estate given the dynamism and renaissance underway in downtown phoenix today.” The proposed upscale rental community is being called Alta Fillmore. Design plans from Biltform Architecture in Phoenix show a four-story structure with elevator service, balconies, shading and perimeter landscaping. The gated community will have studio, one and two-bedroom units ranging from roughly 575 to 1,175 square feet. Rental rates are yet to be determined. Development cost (land and buildings) is estimated by Wood Partners at about $35 million. Wood Partners has an unidentified equity partner that was secured through NorthMarq Capital in Phoenix.
Reached for comment, Council member Michael Nowakowski said “the City of Phoenix benefits tremendously by forward thinking, quality development by national firms such as Wood Partners that improve the human experience of the city neighborhoods while making close-in accessibility possible for the young working professional and families alike.”
Construction is slated to start in the second quarter of 2015, with an opening to follow in the second quarter 2016. The build out is expected to take 21 months. The contractor is WP West Builders Arizona LLC, an affiliate of Wood Partners. In the past 15 months, it has been reported that the privately-held Wood Partners has bought five multi-family development sites in Phoenix, Chandler, Scottsdale and Tempe to build a total of 1,313 apartments. Wood Partners reports seeking several other sites in the region and is actively negotiating a half dozen properties to anticipate a development portfolio over the next half decade.
With 83 days until the kick-off of Super Bowl XLIX, the Arizona Super Bowl Host Committee and Visit Phoenix today are unveiling a super-sized football mounted in Downtown Phoenix, which will serve as the cornerstone for Super Bowl Central. Towering more than 20 feet high, it measures more than 32 feet around, and weighs in excess of 7,000 pounds.
“This massive installation for Super Bowl XLIX stands for the fun and lasting memories in store for fans, and for the heightened profile and lasting benefits for Arizona as we welcome our third Super Bowl in 19 years,” said Jay Parry, President and CEO of the Arizona Super bowl Host Committee.
Located at the northwest corner of Washington Street and Central Avenue, the enormous football made of 7,000 pounds of steel, as well as wood and foam, is 2,000 percent larger than a regulation football.
“Super Bowl Central is a postcard from downtown Phoenix to the world,” said Win Holden, chair of Visit Phoenix. “This super-sized football not only marks the epicenter of downtown Phoenix’s fan experience, but it’s destined to star in scores of selfies and social-media posts.”
Fans are invited to take their photos in front of the newly installed giant football and share them on social media using #SB49.
Super Bowl Central will be a free, family-friendly, football-themed fan campus featuring street-level merchants and restaurants, local food trucks, beer and wine gardens, a concert stage, network broadcast stages and a nightly fireworks show. The 12-block area in downtown Phoenix will be the hub of fan activities for Super Bowl XLIX from Wednesday, January 28 through Sunday, February 1, 2015.
The official groundbreaking for Arizona State University’s new $129 million law school building in downtown Phoenix, the Arizona Center for Law and Society, is set for Nov. 13.
The ceremony will take place at the northwest corner of Taylor and First streets starting at 8 a.m. Attending the ceremony will be ASU President Michael M. Crow, retired U.S. Supreme Court Justice Sandra Day O’Connor and Sandra Day O’Connor College of Law Dean Doug Sylvester. Phoenix Mayor Greg Stanton and Phoenix Councilman Michael Nowakowski also are expected to attend.
“The Arizona Center for Law and Society is another wonderful addition to our growing campus in the heart of Phoenix,” Crow said. “Having the Sandra Day O’Connor College of Law in Downtown Phoenix fits perfectly with ASU’s mission of building strong learning and career connections with media, health care, corporate and government organizations for the more than 11,500 students in the downtown campus.”
Construction on the Arizona Center for Law and Society began in July. The new building will be ready for classes by August 2016. The College of Law currently occupies its home of almost 50 years, Armstrong Hall, on the Tempe campus. ASU and the College of Law are committed to ensuring that the Armstrong name will be honored in the new law school.
The Arizona Center for Law and Society is being funded by the city of Phoenix — which is providing land and $12 million — construction bonds through Arizona State University and private donations. ASU Law has set a capital campaign goal of $50 million for construction of the building. The College has raised more than $34 million so far.
“This could not have been possible without the generosity of our alumni and connected legal communities,” Sylvester said. “We are particularly honored that long-time Phoenix attorney Leo Beus and his wife, Annette, recently made a $10 million contribution to the building’s capital campaign. ”
The building is planned to be approximately 280,000 gross square feet with two levels of underground parking. It will have 18 rooms in which classes will be regularly scheduled, including one large lecture hall dedicated to university undergraduate education. Features of the new law school include a high-tech courtroom and an active learning classroom.
“Not only will the new law school have state-of-the-art learning facilities, it also will provide our students with incredible opportunities,” Sylvester said. “The downtown location is near the courts and the city’s legal district, which will prove invaluable to our students in the form of internships, externships and networking.”
The Ross-Blakley Law Library, currently located in a separate building near the law school in Tempe, will be moved to the new building. The library will occupy multiple floors and create the main circulatory structure of the center. The first floor of the building will have retail space consisting of a school bookstore and a café.
The Arizona Center for Law and Society also will include space for two think tanks, multiple centers with cross-disciplinary focus and the new ASU Alumni Law Group, the first teaching law firm associated with a law school.
The lead architects on the project are Ennead Architects and Jones Studio, with DPR Construction as the lead builder.
Cassidy Turley announced the sale of 40 finished and 111 platted lots in the master-planned subdivision of Sundance, located in Buckeye, AZ. LGI Homes Arizona, LLC (NASDAQ: LGIH) purchased the lots for $3.9 million. The seller was Kaufman Capital Sundance, LLC.
Cassidy Turley Vice Presidents Brian Rosella and Will French negotiated the transaction on behalf of the seller.
The Sundance master-planned community, located just south of Interstate 10 at Watson Road, includes an 18-hole championship golf course, outdoor swimming pools and a 15,000 square foot community recreation center. Located just west of Downtown Phoenix, Sundance residents have panoramic views of the White Tank and Estrella Mountains and easy access to a variety of amenities including shopping, restaurants, medical facilities and Estrella Community College.
Forget the corner office. These days, it’s about the coffee shop around the corner, the food trucks outside the lobby, the light rail that passes an office building every 15 minutes.
The work place is all about the worker. Employee and entrepreneur are synonymous. Human resource departments are working in concert with building owners, managers, developers and brokers.
Employee demographics are spanning radically different generations with equally varied needs for a work-life balance. These are all observations shared by industry experts, from international architecture, design and planning firm Gensler, to brokerage houses and developers in the Phoenix Metro.
About a decade ago, traditional offices began to open up for collaborative space. Since then, office environments have contracted around the remote worker and many other trends that ultimately call for very specific, versatile influenced by a company’s DNA. A demand for trendy, compact work environments that encourage collaboration, focus, creativity and accommodates mobility has led to many new speculative and build-to-suit office developments tailored to an end-user’s needs. This is all while vacancy rates in the market hover around 25 percent.
However, many experts say this statistic is misleading. It’s weighed down by the many office buildings constructed in the ’80s or earlier that are structurally — and aesthetically — outdated.
As Cassidy Turley’s head of research, Zach Aulick, puts it: “functional obsolescence” are the buzzwords of 2014.
Aulick cites Rockefeller Group Vice President and Regional Director Mark Singerman’s assessment at a Bisnow event that vacancy rates in the market were much lower, by about 5 to 7 percent, without including obsolete buildings. Aulick, prompted by such buzzings and the news that speculative and build-to-suit development was happening despite vacancy rates higher than 20 percent, looked into the functional obsolescence among office properties in the Phoenix Metro and found that Singerman was right.
Net absorption of office buildings constructed after 1990, Aulick reports, accounted for 4.4MSF in 1Q 2014. In that same period of time, buildings completed prior to 1990 were reportedly declining in about 320KSF and 200KSF in 1Q and 2Q, respectively. The major contributors or obsolete space is parking ratios and floor plate size.
Midtown, Aulick says, is perhaps one of the hardest hit areas with 10MSF of office and an average age falling pre-‘90s. That area’s options are limited by available space. It takes entrepreneurship, says Cassidy Turley’s Vice President of Marketing Alison Melnychenko, to recognize the highest and best use for the land on which an obsolete building sits.
GETTING IN THE GAME
If an owner isn’t going to sit back on 80 percent occupancy, there are a few options that could raise the appeal of an outdated building. The first move is to retrofit a space — tear out floors or half floors to make higher ceilings. That can be costly and reduces overall volume. The other option is to add to the building’s function. For instance, the Freeport McMoran Center in downtown Phoenix had high user demand for parking. It was turned into a Westin hotel. Buildings along Central Avenue have been converted into apartments and condos — a trend CBRE Senior Vice President of Office Services Bryan Taute says will likely continue.
Retail and industrial buildings are sometimes flipped into office spaces, given the parking issue can be solved. This is more popular in areas such as Midtown or near the airport.
“I think Midtown has the potential to figure a way out of (obsolescence),” says Taute. “If building owners are willing to sell them to new owners with capital to give creative funky ideas. I’m a big believer in mass transit and infill.”
The general idea among people is that Phoenix won’t pay for that kind of re-activated space. But there is more enthusiasm than meets the eye, says Gensler Principal Beth Harmon-Vaughan. Brokers, developers, business owners, she says, see the potential and there are a handful of undisclosed projects in the pipeline on which Gensler is already working.
On a local level, a call center space built in an old Motorola manufacturing facility was designed by Gensler to “control the churn” of the company’s employees who go through 12 weeks of extensive training. The existing building’s unique floor plate led Gensler to use a blue webbing on the ceiling as a navigational tool that brings the 75KSF area together.
The call center is proof that these trendy spaces aren’t just for software and video gaming companies either. Real estate offices such as CBRE in Los Angeles have adopted these new space use trends, and Gensler says more professional and traditionally staunch companies such as law firms are coming onboard.
CBRE’s office in L.A., co-developed with Gensler, has a “free-address” system of office space use, often called “hot desking,” which can be reserved for individual use during certain times.
Despite the increase in remote work, companies still want employees to come to the office. Whether its the highly crafted informality of a Quicksilver office’s mix-matched meeting chairs in a windowless warehouse or the raw floors, pet amenities and employee-generated wall art at Facebook’s Menlo Park campus, the younger generation is revolutionizing office space.
Other trends include authenticity – designing the DNA of a company into its office spaces – and having a “front door” instead of anonymous-feeling lobbies. Gensler’s design of Los Angeles’ C3, for example, achieves a “front door” feel through colorful exterior stairwells to upper-story suites.
Phoenix may not be on that level, but change is coming — even to the ’80s-heavy areas of Midtown.
It just takes a drive down Central Avenue to see the buildings in need of change. The Class-B high-rise at 2828 N. Central Avenue was built in 1985 and offers the typical functionally obsolete issues, parking ratios and small floor plates, explains Aulick. However, it was a building that — with a little renovation — could be turned into the headquarters for the co-op workspace known as “mod on Central.” It’s stylized as a hotel, features a cafe and is a public workspace for remote employees that, as Lynita Johnson, of Olson Communications says, are looking for somewhere that’s “never boring or beige.”
“It’s the way you want to work, because it’s the way you like to live,” she says of the development. Finance and law firms are among the next wave of industries adopting the new kind of office space. Old, dated, standard offices such as Rose Law Group’s former eight-year residence has transitioned into a high-tech, smart, fun, sleek and creative space in Old Town Scottsdale, near a cultural hub of restaurants.
Rose Law Group’s employees skew “young and energetic,” says Jordan Rose, founder of Rose Law Group. “We are 85 percent below the age of 40.” “If we weren’t locked into our old lease we would have been the first to the open floor plan party at least six years ago,” says Rose. “We knew as soon as we moved into the old space that we needed a more collaborative atmosphere that would only be achieved through design.
That said, traditionally law firms are not known as hot beds of creative thought and collaboration. We have a bit of a different model in that we employ lawyers and non-lawyer planners, MBAs, project managers and energy consultants who can help shape the ultimate advice we provide our clients. Sometimes legal advice in a box is just really bad for a client’s bottom line.”
Non-traditional changes include minimizing the firm’s waiting room area, meant to remind the team that clients shouldn’t wait long to see their attorney.
Conference rooms and open space areas are named after employees and balconies that can be used to host meetings. Offices are centered around a park space where people can eat lunch. There are also a few old, full-sized arcade games.
As space allotted per employee continues to drop to about 167 SF per person — down nearly 100 SF in the last few years, with CoreNet Global estimating a further drop to 151 SF by 2017 — developers are tasked with finding ways to make the workplace more enjoyable. Right now, that looks like raising the roof (or, rather, knocking out floors in high-rises). Floor-to-floor heights in buildings constructed in previous decades have been about 13.5 feet. Now, says Sven Tustin, vice president of development and investment for Trammell Crow, they’re about 15 to 16 feet floor-to-floor.
While eight-foot ceilings won’t make an office building obsolete, Taute says a space will be more challenging to sell and demand a lower rental rate than an office with higher ceilings. Buildings with lower parking ratios typically see leasing 80 percent of its space as success.
Tustin has seen some significant repurposing happen in southern California, most recently at Playa Vista, a former Howard Hughes hangar that received a $50M makeover that includes an office campus for media, entertainment and tech firms.
“There’s an authentic experience to be had,” says Tustin. “In Phoenix, it’s a little more challenging. Our office employment is a little less creatively geared and more focused on labor.”
Midtown is the only submarket that has experienced negative absorption over the last decade, thanks to the light rail, amenities and the right neighborhood.
“The trick,” says Tustin, “is buying those buildings cheap enough. “We’ve explored a lot of new developments for infill. We’ve been promoting this initiative quite a bit and one thing we’ve been concerned with is our flight of the younger demographics who view places as more fun.”
Trammell Crow has challenged itself to create a project that could be just as fun, though not as extreme, as Playa Vista. Also, Phoenix doesn’t boast a lot of old warehouses, notes Taute.
Trammell Crow is working on a 200KSF project at Cooper Road and Loop 202 that’s a two-story tilt-up office building with 50KSF floor plates and 16-foot, floor-to-floor heights. The building, he says, targets software and financial service companies. Trammell Crow is focused on creating “the arrival experience” with escape areas, shade structures and “the small things.”
“Developers have probably emphasized aesthetics more than the experience of a building,” says Tustin. “I think it’s worth reallocating the investment toward the employee.” zThis is where Millennials come in.
“From my perspective, it’s a lot more fun because in Phoenix it has always been about price and the things that create it as a commodity,” says Taute. “Now, the office space is being looked at as an attraction tool, which means people are willing to spend more money. If they can get the rents, to make cool office space…All of those things are good for our city. The longevity is better than cookie cutter office buildings.”
With a shovel of dirt, construction began Thursday on the 10-story Biosciences Partnership Building; the latest development in downtown Phoenix.
University of Arizona President Ann Weaver Hart and Phoenix Mayor Greg Stanton tilled the soil ceremoniously marking the beginning of the 2-year design and construction for the 245,000-square foot research building on the Phoenix Biomedical Campus.
“This building will foster collaborations with scientists that will lead to more cures, better treatments and bring more federal and private dollars to the state,” said President Hart. “We will pursue expanded partnerships with industry that we hope will lead to groundbreaking discoveries in the areas of neuroscience, cardiovascular and thoracic science. This building will allow us to further these efforts and, ultimately, improve lives.”
As announced earlier this year by the university and the City of Phoenix, plans are in place to construct the 10-story, 245,000-square-foot research building just north of the Health Sciences Education Building on the downtown campus.
“This building will serve the medical school and beyond with important research and faculty to teach the next generation of health professionals,” Stanton said. “Of course, this just adds to the economic vibrancy of downtown. The research facility initially will bring construction jobs, and then high-paying, research-related jobs, including specialized technicians and other support staff for faculty and scientists.”
The 2-year construction on the $136 million building is expected to translate into nearly 500 jobs initially and another 360 permanent jobs at build out.
“The Bioscience Partnership Building represents yet another milestone as the city and the university develop a major academic medical center in downtown Phoenix,” said Stuart D. Flynn, MD, dean of the University of Arizona College of Medicine – Phoenix. “Research in this building, in collaboration with our partners, will advance healthcare for all and expand our role as an economic driver for the city, valley, and state.”
The building is the latest development in the steady expansion of the downtown Phoenix Biomedical Campus and expanding academic medical center. In 2012, the award-winning Health Sciences Education Building opened, housing health education for both the UA and Northern Arizona University. Construction continues on The University of Arizona Cancer Center at Dignity Health St. Joseph’s. The cancer center, a 220,000-square foot outpatient and research facility, is scheduled to be completed in 2015.
The Phoenix Biomedical Campus plays host to four UA health science colleges – the Mel and Enid Zuckerman College of Public Health as well as the colleges of nursing and pharmacy. Also on campus are three NAU programs – physician’s assistant, physical therapy and occupational therapy as part of the university’s College of Health and Human Services. Arizona State University’s School of Nutrition and Health Innovation is housed in the Arizona Biomedical Collaborative 1 building just southwest of the education building and immediately south of the Translational Genomic Research Institute (TGen).
The funding for the Biosciences Partnership Building comes from the Stimulus Plan for Economic and Educational Development bonds approved by the legislature in 2008that paid for construction of the Health Sciences Education Building and related campus improvements. Research focus areas include neurosciences, healthcare outcomes, cancer and precision medicine.
Valley Partnership’s inaugural Rock For A Cause benefit concert raised more than $8,000 to purchase outdoor musical instruments for 2014 Community Project recipient Arizona Foundation for the Handicapped (AFH).
The concert at the Monarch Theatre in Downtown Phoenix drew an estimated crowd of 300. More than 250 tickets were sold in advance. A total of 34 musicians performed, including Valley bands Soul Country, Heartlyn Rae, Ty Lusk, Ruca, The Nate Nathan Band and Honeygirl.
Inviting local musicians associated with Valley Partnership to perform in a benefit raising money to build a sensory experience at Perry Rehabilitation Center that includes a musical instrument garden seemed like a natural fit,” said Community Project Committee Co-Chair Dena Jones. “I am blown away by the support we received from our partners, the talented musicians and our generous sponsors.
The community project planning committee made our inaugural fundraiser for the 27th community project a huge success. I have already been approached to start planning the next one,” Jones said.
In addition to ticket sales, money also was raised at the concert through a “50-50” raffle and silent auction. Auction items included hotel stays, restaurant gift cards, courtside seats at a Suns game, and autographed sports memorabilia.
Valley Partnership, which represents the commercial, industrial and master-planned real estate development industry in Metro Phoenix, undertakes a community project each year. Rock For A Cause raised money to build a sensory garden that includes permanent, outdoor musical instruments and other therapeutically integrated elements as part of the project.
The goal of the 27th community project is to enhance the quality of life for those served at AFH which will include many therapeutic elements, a sensory garden, a built-in grill, seating for outside dining, the re-purposing of a sports court and a landscape screen. Community Project day is Nov. 8 at the Perry Rehabilitation Center, 3164 E. Windsor Ave., Phoenix.
The huge success of Rock For A Cause is due to the tremendous effort of Dena, her entire committee and the volunteer musicians,” said Richard Hubbard, President and CEO of Valley Partnership. “That success will only be surpassed by the great effort Valley Partnership will put into the 2014 Community Project at Arizona Foundation for the Handicapped. We are looking forward to it.”
AFH is a human services organization whose primary mission is to provide quality, individualized services to those with physical or intellectual challenges in the least restrictive environment. It offers programs for adults with physical or intellectual challenges to assist them in achieving desired outcomes.
One of Valley Partnership’s cornerstones is community service. Each year, it selects a non-profit organization that can benefit from the skills, efforts and supplies provided by its partners to renovate and enhance facilities for children and those in need. Over the past 27 years, Valley Partnership has contributed more than $3.5 million to the community through these projects.
At Kimpton’s Hotel Palomar Phoenix no two weddings ever feel the same thanks to the variety of unique indoor and outdoor settings, locally-inspired food and beverage options, high design and more, that come together to make every moment, every bite and every stylish detail all about a memorable “I do.”
What makes a wedding at Hotel Palomar so unique?
• 360-degree views of the surrounding mountains, skyline view of downtown Phoenix skyscrapers, historic buildings and city lights
• A variety of stunning venues from a rooftop pool deck to sophisticated ballrooms
• Chef-driven cuisine focused on local artisan and farm fresh organic ingredients, and handcrafted cocktails
• Wedding packages starting from $1,500
As downtown Phoenix’s newest boutique hotel, Hotel Palomar Phoenix offers more than just stunning ballrooms and private dining rooms. One of the most awe-inspiring outdoor wedding venues in all of downtown Phoenix is LUSTRE Rooftop Garden, which is perched on the hotel’s third-floor pool deck and offers 360-degree views of the surrounding mountains, downtown skyline of skyscrapers, historic buildings and city lights. LUSTRE is one of the Valley’s most impressive city venues to host anywhere from 20 to 200 guests to eat, drink and dance the night away under the stars.
For indoor options that also offer captivating downtown views, the Zia Room extends the entire west side of the hotel with three walls of oversized windows delivering unparalleled views overlooking the city. The Dreamcatcher Ballroom also plays hosts to wedding celebrations, with a stately space with soaring ceilings, breathtaking chandeliers and a gallery of large windows with views overlooking CityScape Phoenix. Each venue is also available for bridal showers, rehearsal dinners, cocktail receptions and soirees of all occasions for up to 200 guests.
Creative catering designed to exceed expectations is also on the menu at Hotel Palomar Phoenix. The hotel’s on-site, award-winning restaurant, Blue Hound Kitchen & Cocktails, is available to create a menu specifically outfitted for each couple. Blue Hound’s talented culinary team focuses on contemporary American gastro-lounge fare that pairs seasonal, chef-driven cuisine with handcrafted cocktails. Restaurant and wedding menus are thoughtfully prepared to highlight skillful flavor presentations with a sampling of the region’s best organic produce and free-range meats.
Wedding packages at Hotel Palomar Phoenix start from $1,500 and offer a number of enhancements specifically catered to a variety of tastes, budgets and styles. With all wedding packages, the hotel provides a complimentary dance floor, celebratory toast, wedding cake, black pintuck or cream damask linens and votive candles.
For information about weddings at Hotel Palomar Phoenix, visit www.hotelpalomar-phoenix.com/wedding or call 602-253-6633.
Watt Communities of Arizona has doubled its Phoenix project pipeline and brought its total local construction commitment to more than $21 million with the announcement of two new urban infill communities: The Enclave at 32nd Street and 16 Ocotillo. The move grows the company’s local presence and expands its product offerings to include single-family detached homes and urban townhomes in close-in suburban neighborhoods.
“We now have four flags on the map representing two concepts that we are extremely proud of and excited to bring to Phoenix,” said Steve Pritulsky, President and CEO of Watt Communities of Arizona. “They are all decidedly infill locations and will feature innovative indoor-outdoor living styles that today’s buyers are looking for.”
The Enclave at 32nd Street is located on 3.46 acres just south of the southwest corner of 32nd Street and Cactus Road, in the Paradise Valley Mall area of North Phoenix. The community is directly off of the 51/Piestewa Freeway and immediately north of the highly acclaimed Basis Charter School. It is also situated less than one mile from the Phoenix Mountain Preserve recreation area.
Scheduled to break ground in late 2014, The Enclave includes 31 two-story, single-family detached homes ranging from approximately 1,700 to 2,200 square feet. All homes deliver a welcoming front porch concept, creative side patios, builder-installed front yards and common area landscaping, walkable interior courtyards, and private rear-entry, two-car garages.
“This development is based on a private drive design developed by our partners in California, and is a unique concept here in Arizona,” said Paul Timm, COO of Watt Communities of Arizona. “Having just one point of entry for the community adds a level of privacy and allows residents to own a small oasis within a bustling urban corridor. It is innovative housing in and active location, but also peaceful.”
The second community, 16 Ocotillo, sits on 2.8 acres at the southwest corner of 16th Street and Ocotillo Road, between Maryland and Glendale avenues in North Central Phoenix. It is within walking distance to the area’s burgeoning 16th Street “Restaurant Row,” a Sprouts grocery store and diverse retail services. The community is being designed as a gated, single-family detached home community and is located near Piestewa Peak, which sits just one half mile away.
The Enclave at 32nd Street land acquisition closed escrow on May 13 for $1.275 million. Timm of Trust Realty Advisors represented the buyer, Watt New Leaf-Cactus LLC. John Werstler of CBRE represented the property seller, The Northern Trust Company as Trustee of the Edmund P Mell GST Trust. The 16 Ocotillo land acquisition closed escrow on May 8 for $1.6 million. The buyer was Watt New Leaf-16 Ocotillo LLC. Ray Cashen of Cashen Realty Advisors represented the property seller, The Estate of Mon Jame Lee and The Lee Living Trust.
In late 2013, Scottsdale-based New Leaf Communities and Watt Communities of Santa Monica, Calif. announced their joint venture (Watt Communities of Arizona) and entered the Phoenix market with two inaugural projects: Dorsey Lane, a 51-unit townhome project located in central Tempe (just south of the southwest corner of Broadway Road and Dorsey Lane), and Biltmore Living, a 40-unit townhome project located in the Camelback Corridor (less than a mile south of 24th Street and Camelback Road).
Those communities will provide contemporary, three-story urban townhomes ranging in size from 1,400 to 1,800 square feet. Amenities include gated entry, private two-car garages and common areas with a pool/ramada/sundeck, outdoor poolside kitchen and landscaped paseos.
“These are urban locations within established employment cores,” said Pritulsky. “They match the quality and vibrancy of their neighborhoods, and will allow residents to move from renting to owning without giving up their urban lifestyle.”
CityScape Phoenix marked its final development milestone in February when the first residents moved into the CityScape Residences, a collection of 224 luxury apartments that sit atop Kimpton’s Hotel Palomar Phoenix.
The leasing office is now open daily from 11 a.m. – 6 p.m. along with a fully furnished, one-bedroom model on the 14th floor.
Expansive views and high-energy surroundings merge with sophisticated home finishes within all 224 residences. Residents have 24-hour access to the four-star hotel services of Kimpton’s Hotel Palomar Phoenix, including in-room dining by Blue Hound Kitchen & Cocktails, housekeeping, concierge, valet parking, business center and laundry services. Additionally, residents will enjoy parking with direct access into the residential tower, a private 24-hour state-of-the-art fitness center, a community area and an exclusive swimming pool 175 feet above Jefferson Street.
“CityScape is known for many things – most notably, work and play, but now it will take on a new component – live,” said Keith Earnest, Executive Vice President of Development at RED. “Our residents will have full access to the 24-hour vibrancy and energy of the neighborhood. What you find in two city blocks at CityScape is typically separated by miles in other cities. We’ve built a strong, tight-knit community and now we look forward to welcoming people who will call CityScape home.”
CityScape Residences offer unique studio, one- and two-bedroom floor plans with floor-to-ceiling windows, gourmet kitchens with prep islands and gas ranges, and luxurious bathrooms with sizeable closets. The residences range from 560 to 2,373 square-feet and include 23 two-story one, two- and three-bedroom penthouses on the top floors. All residences offer magnificent views of the city skyline and mountains beyond.
In addition to the hotel and community amenities, residents are automatically enrolled in a residents-only membership program at participating CityScape retailers and restaurants. Living at CityScape Phoenix puts residents just a few steps away from the best concert venues, theatres, professional sports venues and museums in Arizona.
“I have lived in Phoenix nearly my entire life and have never seen Downtown as vibrant as it is now, nor has there ever been a place more exciting to live than CityScape Residences,” said Irene McCready who works three blocks away at a major corporation and is the first resident to move in. “I sold my house last year and watched and waited for the CityScape Residences to become available. It’s like living at a resort with 24-hour room service and security, a resident-only pool and gym and full access to the hotel’s amenities. The spectacular views of South Mountain from my apartment and the never-ending variety of things to do are exactly what I was looking for in a home.”
CityScape Residences will be professionally managed by Alliance Residential Company. With resident move-ins underway, this signifies the completion of construction at the $500 million mixed-use destination.
For more information on CityScape Residences, call 866-628-0589 or visit www.cityscaperesidences.com.
For more information about CityScape Phoenix, a retailer directory and to see what’s happening, visit www.cityscapephoenix.com. Ample and convenient underground parking is available and validated by many retailers.
CityScape Phoenix will attempt to break the world record for biggest Pilates class with 863 participants in celebration of International Pilates Day on Saturday, May 4 with participants lining Central Avenue in Downtown Phoenix.
CityScape Phoenix, in partnership with Gold’s Gym, IMX Pilates Studio, Pilates by Fitness Solutions and Remedy, a Pilates & Massage Studio, will attempt to break the Guinness World Record. Currently standing at 862 people, CityScape plans to crush the world record that was achieved in Spain in 2009 by having 1,000 people simultaneously practicing Pilates at Patriots Square at CityScape and along Central Avenue. The class will be led by IM=X Pilates Master Trainer, Chanda Fetter, who has personally led more than 4,000 mat Pilates classes.
Participants of all ages and skill levels are welcome to bring their mats and water and join in this exciting event. Arrival is encouraged at 8am with the hour class beginning at 9:30am. There will be live music, food and vendors in the park following the class from 10:30am to noon.
“It’s going to be an exciting morning in Downtown Phoenix and the record will be measured at a point during the class when everyone is participating,” said Celine Hacche, marketing director of CityScape Phoenix. “Health, wellness and bringing the community together are big priorities for us at CityScape and we’ve had great success in our free fitness classes that change on a seasonal basis.”
During the class, guests will learn proper technique, tone, strengthen and improve their body and working abs, buns and thighs. This event is free and open to the public.
Every Saturday morning since March 16, CityScape has been hosting “Pilates in the Park”, offering free Pilates classes at Patriots Square Park leading up to this world record attempt.
After participating in the world record attempt, Blue Hound Kitchen & Cocktails at Hotel Palomar Phoenix is offering participants a special offer during its Punch Brunch where you will receive half off your entrée with the purchase of any breakfast cocktail.
For more information, visit www.cityscapephoenix.com/pilates or call 602-772-3900.
This weekend at Heritage Square in downtown Phoenix, it’s all about beer, live music, food trucks, beer and, yes, even more beer. The inaugural Phoenix Brewers Invitational, Get Crafty 2012, will feature more than 60 craft breweries, live entertainment by 80 Proof, beer-related vendors, beer memorabilia, home brewing demonstrations and a wide variety of local foods from some of Arizona’s best food trucks.
And, even better: Admission into the festival grounds is free. However, to consumer beer, 21-and-over attendees must purchase the 2012 souvenir mug for $10. Beer is sold separately using tokens, priced at $1 each for a 3-oz sample. Or, trade in four of your tokens for a full, 12-oz serving.
Want more? VIP admission will also be available, which will include an invitation to an open house preview party hosted at Phoenix Ale Brewery on Thursday, December 6 and exclusive entry into the VIP beer garden on either Friday or Saturday with catered food, private bathrooms and a meet-and-greet with brewers. The VIP ticket is only available through pre-sale purchase for $125 per person, per day.
Some of the invited breweries include (beers subject to change):
- Phoenix Ale Brewery (Phoenix, Ariz.), Fretzy’s Unfiltered Pale Ale
- Borderlands Brewing Company (Tucson, Ariz.), Noche Dulce Vanilla Porter
- Dogfish Head Brewery (Milton, Del.), 60 Minute IPA
- Maui Brewing Co. (Kahana, Hawaii), Bikini Blonde
- Boulder Beer Co. (Boulder, Colo.), Hazed & Infused
- Full Sail Brewing Company (Hood River, Ore.), Amber Ale
- Coronado Brewing Company (Coronado, Calif.), Orange Wit
- Mission Brewery (San Diego, Calif.), Amber Ale
- Left Coast Brewing Company (San Clemente, Calif.), Hop Juice Double IPA
- Rubicon Brewing Company (Sacramento, Calif.), Monkey Knife Fight Pale Ale
- Marin Brewing Company (Larkspur, Calif.), IPA
- Ass Kisser Ales (San Jose, Calif.), Vanilla Pale Ale
As for live music, 80 Proof, a California-based reggae rock band, is scheduled to perform on the Zia Records Stage at 8 p.m. on Saturday, December 8 (day two of Get Crafty 2012). A battle of the bands is also scheduled for Friday, December 7 (day one); as many as 12 local bands will battle it out for a chance to be one of the beer festival’s featured performers, with the chance to open for 80 Proof. The winner will be chosen by popular vote from festival goers. Some of the competing bands include Bird City, Versions of You, Cartoon Lion, We Are Searchers, Inept Hero, Cosmic Goat, Libertine Social and Johnny Lee.
And just when you thought it couldn’t get any better: A percentage of the proceeds from this event will benefit the Beer for Brains Foundation, a national, nonprofit organization of craft-beer lovers, distributors and brewers, who are committed to raising public awareness about brain cancer, engendering compassion for its victims and helping fund groundbreaking research leading to a cure. Based in Arizona, the Beer for Brains Foundation is one of only a handful of beer industry-related charities currently operating in the United States.
As a final note, drink responsibly. The Phoenix Brewers Invitational urges patrons to take advantage of the Valley Metro Light Rail, located just blocks away from the festival.
To purchase tickets, for a schedule of events and for more information about the Phoenix Brewers Invitational, visit phoenixbrewfest.com.
Phoenix Brewers Invitational: Get Crafty 2012
Where: Phoenix Heritage & Science Park, 115 N. 6th St., Phoenix, AZ 85004
When: December 7-8, 2012, 12 p.m. to 10 p.m. each day
Cost: General admission ticket: $10, VIP tickets: $125 pre-sale
Contact: (480) 234-4232
Where else can you bowl a strike, walk a few steps to an adjacent, high-end nightclub and cross your fingers in hopes of not striking out? CityScape — and Gypsy Bar, which will be connected to Lucky Strike Lanes, is adding its name to the already-hip roster of nightlife hotspots in the downtown Phoenix area.
“In light of the overwhelming support we’ve received from the public since opening Lucky Strike in downtown Phoenix,” says Steven Foster, owner and CEO of Gypsy Bar and Lucky Strike, “we’re thrilled to be rolling out yet another fun nightlife experience.”
At more than 10,000 sq. ft., able to hold approximately 380 people and open seven days a week, Gypsy Bar, according to Foster, will provide guests with “great DJs and a dance floor to an adult-oriented game lounge and a delicious menu.” And, with neighbors such as the US Airways Center, Chase Field and ASU’s downtown campus, he adds that “it’s exciting to be a part of the area’s continuing evolution as a nightlife destination.”
A full-service, upscale nightclub, Gypsy Bar will offer a full menu, which will include a variety of items from tacos and hamburgers to lobster and prime rib, as well as specialty cocktails, premium beers, VIP/bottle service and entertainment. To take it a few steps further, guests can also expect state-of-the-art video systems on either side of the DJ booth, as well as carbon dioxide, confetti cannons, snow and various lighting effects surrounding the dance floor.
As for the “fully-loaded” game lounge, it will feature 40 arcade games, including 2 Minute Drill, 2 Fast & Furious, Deal or No Deal, Guitar Hero, NBA Hoops, Pac-Man Battle Royal Deluxe, Super Bikes and Super Cars. Guests of Gypsy Bar can purchase an electronic rechargeable game card, which will accumulate reward points, and redeem prizes ranging from iPods to Pez dispensers.
Or, for those who plan to take it easy, dine and socialize at the three-sided island bar or on the contemporary lounge sofa sections.
Gypsy Bar’s Grand Opening party, Commotion, will take place on Saturday, October 6 at 10 p.m. The VIP pre-party begins at 7 p.m. DJ Roonie G, who blends both audio and visual content and considered one of the best video DJs, will be performing.
Bentley Gallery, a leading contemporary art gallery in the Southwest since 1990, has announced plans to relocate to its downtown Phoenix warehouse space.
The gallery will be located at 215 East Grant Street in the historic Bentley Projects complex. This space will accommodate Bentley’s current staff and enable expansion for the gallery’s future growth. Bentley Gallery plans to relocate at the end of October 2012.
“Art gallery traffic across the country has decreased significantly and galleries can no longer rely on walk-in clients to drive sales,” said Bentley Calverley, owner and director of Bentley Gallery and Bentley Projects. “With the changing global art market and our client’s rapid increase in technological sophistication, we needed to refocus our evolving business. It made sense to take advantage of our existing Phoenix location. Phoenix has been conscious of the contribution art makes to the city and has been supportive of the local art scene, and CityScape and ASU have greatly enhanced the downtown environment.”
Calverley added, “And because our artists are making larger scale work, we need bigger walls and higher ceilings to showcase it in the best way possible.”
Bentley Gallery represents important artists from the United States and Europe, whose work includes painting, sculpture, drawing, photography, video, and site-specific installation. The gallery also deals in Asian and African antiquities and secondary market works from the late 19th century and the Modern era.
“We are excited about Bentley Gallery’s decision to relocate to Phoenix,” said Phoenix Mayor, Greg Stanton. “With this move, the gallery will be positioned to take advantage of the many opportunities available from doing business in Phoenix, while working alongside innovators in our city. Bentley Gallery will greatly enhance Phoenix’s cultural landscape.”
Bentley Gallery will launch the move to Phoenix with a November exhibition by Japanese-American sculptor, Jun Kaneko. Arizonans are familiar with Kaneko’s large-scale ceramic “dango” sculptures permanently on display at Sky Harbor Airport’s Terminal 3, and his ceramic tile wall in front of the Phoenix Art Museum.
Eighty students will arrive this week for classes at the University of Arizona’s medical school in Phoenix.
Those students represent the largest class since the university’s College of Medicine established a downtown Phoenix campus five years ago.
The students soon will share the newly opened health sciences education building with Northern Arizona University students studying to become physical therapists and physician assistants.
The campus is scheduled to expand later this year with the groundbreakings of a 250,000-square-foot University of Arizona Cancer Center and a privately funded biotech lab next to the building anchored by the Translational Genomics Research Institute and International Genomics Consortium.
The Arizona Cancer Center is slated to become the campus’ first clinical presence with a scheduled groundbreaking later this year.
For more information on University of Arizona’s medical school, visit their website medicine.arizona.edu.
The Chateau On Central is one of the few residences in Downtown Phoenix that offers both convenience and ‘live-work’ space, and banks are offering special loan programs aimed to assist medical professionals acquire these homes.
Doctors work around the clock, saving lives day in and day out. With some of the most renowned hospitals in the nation — including Barrow’s Neurological Institute, Phoenix Children’s Hospital and Banner Good Samaritan — Downtown Phoenix is at the heart of Arizona’s medical industry.
With the highest density of medical facilities in the state, the city has become saturated with doctors and physicians who want a fast and hassle free commute. These practitioners, many of which are surgeons are investing approximately 60-80 hours a week at the hospital.
The growing demand for lock and leave residences among this busy demographic has been proven through the incredible condominium sales in Phoenix. With downtown communities rapidly selling out, Chateau On Central is experiencing a wave of interest from doctors whose needs surpass what neighboring communities are offering.
To accommodate such a large influx of medical professionals capitalizing on downtown’s best properties, banks, such as National Bank of Arizona, have begun to offer specialized loan programs to medical professionals. The program introduces a new opportunity to service medical professionals in Arizona with a 95% loan-to-value option on a new home purchase or the refinancing of an existing home, with financing available up to $1.2M.
This program is exclusive to clients who qualify for Executive Banking or Private Banking with National Bank of Arizona. Both divisions within the organization will be dedicating resources to develop and grow this niche segment of business.
“At National Bank of Arizona, we believe that our specialized loan program for physicians is a great opportunity for doctors to purchase or refinance their primary residence and take advantage of these record low interest rates,” said Paula O’Neal Wichterman, vice president of National Bank of Arizona’s Medical Private Banking Division. “An added benefit is that NB|AZ provides physicians with concierge style banking by a dedicated relationship manager who can work around their busy schedules to ensure their loan and banking needs are met.”
For physicians seeking the convenience of a lock and leave lifestyle, as well as the potential for ‘live-work’ space, Chateau On Central is one of the few residences in Downtown Phoenix that offers both of these unique features. These exclusive vertical living townhomes, zoned for mixed-use residential, feature interior private elevators that service five separate levels, making the homes extremely well suited for the dual purpose approach to the “live-work” concept.
“Over the years I’ve worked with countless doctors who all share very similar needs regarding their lifestyle necessities in purchasing a home. The top priority is always convenience and the Chateau On Central community never fails to impress and surprise medical professionals who want the best of both worlds, ease and luxury,” said Keith Mishkin, owner of Cambridge Properties, broker of record for Chateau On Central. “Purchasing homes of this quality has become easier now since banks have begun offering special home loan programs aimed to aid doctors in the home buying process.”
For more information on loan programs at National Bank of Arizona, visit National Bank of Arizona’s website at nbarizona.com.
Some spectacular birds-eye views of the Valley will soon be available when 44 Monroe, the tallest residential building in Downtown Phoenix, unveils eight luxury penthouses.
The penthouses range from 2,200 to 2,800 SF and will be situated on the 33rd and 34th floors of the tower. Tenants can have their pick of northeast, northwest, southeast – or southwest views. Monthly rental rates range from $4,800 to $5,350. All of the buildings signature luxury amenities are included.
“These amazing residences have floor-to-ceiling view windows and offer panoramas of the city and beyond,” said 44 Monroe property manager Kevin Bohm. “These penthouses are remarkable.”
Bohm said the target market for these units will be executives, doctors, attorneys, professional athletes and others working in downtown or central Phoenix.
The penthouses are designed and built with the best products and finishes. Each unit includes Viking designer stainless steel appliances, Whirlpool front load washers and dryers, polished quartz countertops, Kholer fixtures, European frameless cabinetry and customized flooring, paint and window coverings.
As Downtown Phoenix’s only luxury high-rise rental property, 44 Monroe offers notable amenities including a resort-style pool and spa, a community room with flat screen TVs, a fireplace, pool table, seating areas and an expansive kitchen for entertaining as well as a spacious terrace with dramatic views of downtown Phoenix. Tenants also enjoy a meeting room equipped with a large conference table, secure, covered parking, on-site security and a well-maintained environment.
While living in a trendy space with upscale perks is a big attraction for tenants, so is the opportunity to live downtown in the heart of the city’s entertainment core. The convenience of living within walking distance of all of the downtown entertainment venues such as CityScape, Chase Field, US Airways Center, the Orpheum Theater, Phoenix Symphony Hall and the Herberger Theater is unsurpassed.
Located along Valley Metro’s light rail line, 44 Monroe is in the heart of an area seeing a flurry of new restaurants, hotels and night life options – all within walking distance.
“Our location has proven to be highly attractive to our residents,” said Bohm, adding 44 Monroe is 97 percent leased. “We’re pioneering a new luxury lifestyle in downtown Phoenix.”
For information on 44 Monroe, visit www.44monroe.com/penthouse.
CityScape revitalizing downtown Phoenix with its myriad dining, shopping and entertainment choices.
The arrival of CityScape has done more than change the business and entertainment landscape of Downtown Phoenix.
“CityScape has been a boon for booking meetings and conventions because of the dining, shopping and entertainment options it provides right at the doorstep of the convention center and downtown hotels,” says Scott Dunn, associate director of communications for the Greater Phoenix Convention & Visitors Bureau. “It’s not like downtown has a dearth of restaurants or nightlife; but what it largely lacked before CityScape was a sort of concentrated, recognizable ‘bug light’ zone that attracts pedestrian visitors. With CityScape and the nearby Legends Entertainment District, downtown now has that, and meeting planners the CVB brings to town take notice.”
Since CityScape opened in 2010, the $500 million, mixed-use urban development has become Downtown Phoenix’s destination for business, nightlife, shopping, entertainment, and special events. CityScape has capitalized on being bordered on three sides by the city’s new light rail transit system, and the fact that its neighbors include US Airways Center, Chase Field, the Phoenix Convention Center, Arizona State University’s 8,000-student downtown Phoenix campus, City Hall and the Maricopa County administrative and court complex.
“CityScape has become an authentic urban space for residents and tourists to organically gather and interact in a way that has never existed in Downtown Phoenix,” says Jeff Moloznik, general manager of CityScape.
Because of that, CityScape has come to define the resurgence of Downtown Phoenix.
“Probably the biggest indication that the perception of Downtown Phoenix has changed is the NFL’s decision to bring the Super Bowl back to Arizona in 2015,” Dunn says. “The transformation of downtown was a major part of the Arizona Super Bowl Host Committee’s pitch to the NFL, and the NFL obviously liked what it saw. Remember: The last time the Super Bowl was here, there was no CityScape, there was no light rail, there was no new Sheraton or Westin. Downtown was pretty much a construction zone. CityScape embodies the renaissance of the city’s urban core — and in 2015, when the world is watching, it will be even better.”
CityScape, like downtown, continues to evolve. It added three new restaurants in late 2011 — The Breakfast Club, The Strand and Chipotle — and will continue add to its dynamic roster in 2012.
“Starbucks and Chloe’s Corner opened earlier this year and Palomar Phoenix at CityScape, a 242-room luxury boutique hotel operated by Kimpton Hotels, will open later this spring,” Moloznik says. “Silk Sushi is also a new local spot that will join our diverse restaurant offering this summer.”
CityScape has started to drive more traffic downtown through special events and activities, including an ice skating rink over the winter and a well-received Saint Patrick’s Day party.
“No matter the time or day, something is always happening at CityScape,” Moloznik says. “We’ve introduced a community-focused lineup of unique, interactive outdoor events at Patriots Square, which is located in the heart of CityScape. Just one example is our weekday ‘Pop Up Park,’ where lunch-goers can soak up the sunshine and socialize with fun, free activities from 11 a.m.-1 p.m. At no cost, you can play Scrabble, Jenga, corn hole, get books and magazines from a free loaner library, use lawn chairs and blankets, Frisbees and a basketball hoop. A DJ spins live music and you can have a picnic in the park by grabbing a quick lunch at Chipotle, Jimmy John’s, Five Guys, Vitamin T or Chloe’s Corner.”
Beyond the delicious food from The Arrogant Butcher and the fun of Stand Up Live, Copper Blues, and Lucky Strike, CityScape has become an epicenter for the Phoenix business community. The office tower at CityScape is at nearly full with major employers, including UnitedHealthcare, Alliance Bank and several of the Valley’s most powerful law firms.
“CityScape is a collection of the best of businesses and individuals in the Valley,” Moloznik says. “From (restaurateur) Sam Fox’s Arrogant Butcher to (Phoenix Suns owner) Robert Sarver’s Western Alliance Bank, the most progressive and entrepreneurial talent in the Valley have convened at CityScape. The impact our tenants’ businesses have brought to Downtown Phoenix is noticeable and significant. In an area that once lacked a central core, there is now energy, creativity, enterprise and excitement all day, every day in once central location.”
Calling CityScape Home
Alliance Bank * Alvarez and Marsal * Ballard Spahrz * Brownstein Hyatt Farber Schreck * Buzz Mouth * Cantor Law Group * Charming Charlie * Chipotle * Chloe’s Corner * Copper Blues Rock Pub and Kitchen * Corporate Office Centers * CVS Pharmacy * Fidelity Title * Five Guys Burgers and Fries * Gold’s Gym * Gordon Silver * Gust Rosenfeld * Jennings, Strouss and Salmon, PLC * Jimmy John’s * Kimpton Palomar (opens in June) * Lucky Strike * Mybullfrog.com Verizon Wireless Premium Retailer * Par Exsalonce * Polsinelli Shughart * Raza Development Fund * RED CityScape Management Office * RED Development * Republic of Couture * Silk Sushi * Squire Sanders (US) LLP * Stand Up Live * Starbucks * The Arrogant Butcher * The Breakfast Club * The Strand * Tilted Kilt * UnitedHealthcare * Urban Outfitters * Vitamin T * West of SoHo * Yogurtini