Proposed new high-rise mixed-use tower in Tempe!

[ghdana]

I'm 22 and work a professional job in Tempe and can afford to live in a "luxury apartment" and so do all of my friends and coworkers. Although I do think anything over $1500 is kind of ridiculous for the square footage that comes with many of them.

[Valley Native]

Originally Posted by observer53

Tempe is not supposed to be entirely focused on "students and ASU". it has thousands of residents, and will have more, that have little or nothing to do with the University in their daily lives here. "Real public transportation" in Tempe is quite good, and benefits those students you are so concerned about (and ASU staff and other ASU customers) and lots of other residents, myself included.

I'm pretty sure Ponderosa is being his usual sarcastic self. He is fully aware that what goes on in Tempe really doesn't affect life in his exurban corner of the SW Valley.

Originally Posted by Leaving Arizona

I'm just surprised that any towers more than ten stories are allowed alongside the riverbed, considering that it's so close to Sky Harbor and the east side landing pattern. Money turns people blind, I guess.

'Tis okay - this ol' cynic's going to laugh when a 100 year flood comes in and a goodly portion of this construction floats its way down the Salt.

Buildings are allowed to be a certain height within flight paths, and 10 stories is really nothing compared to what COULD be built. One of the W6 towers is 30 stories, and within the Sky Harbor flight path. Other cities like San Diego and Las Vegas have fairly tall highrises close to their airports, and nobody seems to complain or be worried. Also, a 100 year flood will likely not wash away anything along the lake. The Mill Avenue bridge is more in danger of being washed away than anything on land, like what happened during the winter of 1993. No sense in fretting over things that likely won't ever happen.

[Java Jolt]

Originally Posted by goolsbyjazz

It was recently reported that Minneapolis-based Opus Development Co. filed plans for a three tower mixed-use project that would include luxury apartments and more hotel rooms to downtown Tempe. The sticking point is that it would be 20 stories high, which ASU President Michael Crow is not crazy about. He thinks the buildings, which will be next to ASU's main campus, will be too high.

The project would be built on a full block from Myrtle Ave. to Forest Ave. between University Drive and Seventh Street.

What do you think? Is this a good idea?

Not a good idea but it has nothing to do with the height.

The problem is the idea of luxury apartments next to ASU, do they really think college students on a fast food budget could afford a place like this?

This luxury living concept was already tried with the towers on Mill and 6th, they were orignally intended to be high-end condominiums but the whole idea failed.

Something like this is more suited for Phoenix like near downtown, or better yet in Scottsdale.

[asufan]

Originally Posted by Java Jolt

Not a good idea but it has nothing to do with the height.

The problem is the idea of luxury apartments next to ASU, do they really think college students on a fast food budget could afford a place like this?

This luxury living concept was already tried with the towers on Mill and 6th, they were orignally intended to be high-end condominiums but the whole idea failed.

Something like this is more suited for Phoenix like near downtown, or better yet in Scottsdale.

Are you kidding? I knew kids at ASU that drove $50,000 cars, had seemingly limitless credit cards and their parents put them up in sweet houses or apartments. Regardless if it's students or not, millenials that prefer urban living will look to Tempe or Scottsdale as Phoenix is lacking, and proximity to young Coed's is not really a negative to many young professionals.

[Java Jolt]

Originally Posted by asufan

Are you kidding? I knew kids at ASU that drove $50,000 cars, had seemingly limitless credit cards and their parents put them up in sweet houses or apartments. Regardless if it's students or not, millenials that prefer urban living will look to Tempe or Scottsdale as Phoenix is lacking, and proximity to young Coed's is not really a negative to many young professionals.

I'm pretty sure it's a select few who drive $50,000.00 cars and have the champagne lifestyle courtesy of mom and dad.

If a greater share of ASU students were in that bracket there would be a larger demand for luxury living but the West 6th project is a prime example of high-end condominiums that failed and stood empty until they were converted to more affordable apartments.

Young professionals might be more interested in Scottsdale and that's where buildings like this belong.

[observer53]

Originally Posted by Java Jolt

Not a good idea but it has nothing to do with the height.

The problem is the idea of luxury apartments next to ASU, do they really think college students on a fast food budget could afford a place like this?

This luxury living concept was already tried with the towers on Mill and 6th, they were orignally intended to be high-end condominiums but the whole idea failed.

Something like this is more suited for Phoenix like near downtown, or better yet in Scottsdale.

They aren't marketing them to students, and I don't know what the particulars are of the apartments in terms of amenities, rent price, etc. As I said before "luxury" and "high end" can be sort of relative terms. W6 was at the wrong time....44 Monroe downtown ended up in the same boat, going from condo to rental.

[asufan]

Originally Posted by Java Jolt

I'm pretty sure it's a select few who drive $50,000.00 cars and have the champagne lifestyle courtesy of mom and dad.

If a greater share of ASU students were in that bracket there would be a larger demand for luxury living but the West 6th project is a prime example of high-end condominiums that failed and stood empty until they were converted to more affordable apartments.

Young professionals might be more interested in Scottsdale and that's where buildings like this belong.

No, it's not a select few, It was about 1/3 of the students I knew. The market is there and W6 is a prime example of this because if you do not get on the waiting list early enough, you do not get a unit there. University House is more upscale urban living for students that just completed their 2nd 17-story tower due to high demand for such housing. The reason for the delay on building W6 was that the market crashed and EVERYTHING that was on the drawing board everywhere was shelved. high rise living is a capital intensive venture and they need a certain % sold before they will move forward. There were some buyers on W6 when it was going to be condos, Matt Leinart for example had money down on a unit, but with the economy where it was then, there were not nearly enough to meet the quota to build. Demand for luxury housing for professionals near ASU is there, but I agree more market rent housing would be nice.