August 27, 2008 – 6:15 am
We learned today from the most recent Bankruptcy Court case regarding Mortgages Limited Securities (MLS), that the private lender has slightly switched gears in terms of their new lender for Centerpoint. As of Friday, MLS announced a company called Stratera Portfolio Advisors will lend an immediate $4.9 million to help finish some highly time-sensitive issues [...]
August 26, 2008 – 9:29 am
About a month ago the mayor celebrated the launch of the new Phoenix Light Rail by taking a ride in one of the cars as far south as McDowell Road. It was mostly a PR media event but that’s why it’s noteworthy.
For over a year we have been stating that despite whether or not the [...]
August 21, 2008 – 6:43 am
Although the condominium market has been slow for a while, newspapers like to keep people excited and ready for the eventual opening of projects. I think it is great that the Phoenix Business Journal, AZ Republic and East Valley Tribune are still reporting on real estate development updates, whether their information is new or just [...]
August 20, 2008 – 3:56 pm
For everyone who was hoping to see the internationally renowned Le Meridien hotel come to Tempe Town Lake, unfortunately it isn’t going to happen.
The hotel was originally planned years ago to sit behind the Edgewater tower in the Hayden Ferry Lakeside development. Suncor Development Company, who is developing the HFL project, sold the parcel two [...]
August 19, 2008 – 2:03 pm
There have been numerous newspaper articles reporting on the financial woes for Avenue Communities and its downtown Tempe high rise condo developement, Centerpoint.
What I have not understood is how can a project that has sold 20-25% of its condominiums over the last three years survive current market conditions AND the bankruptcy of its construction lender?
But I’m starting [...]
August 17, 2008 – 8:08 am
Believe it or not a developer is looking to move forward with construction of another high rise condo community in the Valley.
WestStone Communities recently announced the opening of its “virtual sales office” (meaning everything will be computer generated “virtual” photos and videos) to promote its proposed Onyx Tower.
Plans for Onyx Tower call for a 22 story [...]
August 13, 2008 – 2:30 pm
Avenue Communities is looking to break ground September 2008 on its mixed use redevelopment development called Hayden Flour Mill. Phase one calls for 60,000-sf of retail and office space and will take about 14 months to construct.
For more information on Tempe’s Hayden Flour Mill.
August 11, 2008 – 12:27 pm
A brand new Starwood Hotels product called Aloft is under construction in Tempe just behind (north) of North Shore Condominiums and near the site of the proposed Onyx High Rise Condo Tower. The new five story, one hundred thirty six room hotel should be completed by early February 2009 and will offer hip, cool, upscale limited service [...]
August 10, 2008 – 6:59 pm
The Bad News
Many retail stores along Tempe Mill Avenue have failed and closed and some people say that the area is the most “depressed” that it has been in the last thirty five years.
How did this happen? Well clearly part of the reason is that retail sales across the country are down. But this does not [...]
August 3, 2008 – 11:25 pm
Several articles have run recently regarding the financial challenges facing Centerpoint High Rise community in Tempe.
The gist of the articles suggest that all is fine with the development per Ken Losch, one of the principals of Avenue Communities, the developer of Centerpoint. In general, these kinds of articles don’t really offer any kind of substantive [...]
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