Ten of the Valley`s Hottest Intersections

Transcription

Ten of the Valley’s
Hottest Intersections
Moderated by
Grady Gammage
AUGUST 29, 2007
Hottest Intersection
#1
AUGUST 29, 2007
24th STREET & CAMELBACK ROAD
Phoenix, Arizona
C i C
Craig
Coppola
l
AUGUST 29, 2007
24th Street & Camelback Road
• Camelback Corridor – The Hottest
¾City of Phoenix - 15 Urban Core Villages
¾Esplanade zoning case created impetus to
Camelback Core Plan – Adopted 1991
¾ The Vision: Live, Work and Play
¾ The Result: Live,
Live Work and Play
Camelback East Village
TENT
CONCEPT
Allows for 140-foot buildings at 24th Street,
with lower heights to the east and west
Core intensity at corner of 24th Street and
Camelback
Being Tested as we speak
Development & Architecture
• History:
– Symington was primary developer for Esplanade & Ritz
Carlton.
– Hines/
Hi
/G
Grey Family:
F il Ci
Cine-Capri
C i IIssues
– Walt Rector, Bob Mayfield, Johnson Family: NWC, Biltmore
Fi
Financial
i lC
Center
t
– Biltmore Fashion Square: Built in 1963, Renovated in 2006,
Westcor
Area Amenties
•
Shopping: 200 + Stores – Real ones

Biltmore
t o e Fashion
as o Squa
Square,
e, Towne
o e
& Country Mall, Macy’s, Sak’s Fifth Avenue
•
150 Restaurants +/+/- Real Ones

•
Houston’s, Capital Grille, Morton’s, Oscar Taylor’s
Hotels – Real Ones

Ritz Carlton, Arizona Biltmore
Housing
Multiple levels of housing in the area:
• “Uber”
Uber housing in the Arizona Biltmore
Biltmore,
Arcadia, and new condominiums
• Medium
M di
IIncome h
housing
i
(condominiums/houses) $250,000 +
• Reasonable Housing -Multiple Apartments
located within walking distance to
C
Camelback
lb k R
Road
d
Lease Rates
Office • $25-44 psf – Highest in the Valley
• Highest sales price in the valley ($400+/sf)
Retail
• $35-150 psf – Top of the Market
Residential • Single Family Homes, Townhomes & Condo Rentals:
$2,500-12,000
,
,
/ Month
• Apartments: 1BR/2BR ($500-3,000/Month)
Future Outlook
• The future is now
• The future is bright – Westcor/Hines
• The Hottest Corner
Current View
#2
AUGUST 29, 2007
PRIEST DRIVE & WARNER ROAD
Chandler, Arizona
Ad
Adam
Gilburne
Gilb
AUGUST 29, 2007
Priest Drive & Warner Road
• 15,000
residents
within one
mile
• 104,000
residents
within three
miles
Highlights
Priest Drive & Warner Road
• IKEA
Only IKEA in Southwest outside of Texas
324,000 sq ft store on 23 acres
• Emerald Design Center
A 320,000 sq ft design center for home furnishings
• Warner Village
30,000 sq ft of office/medical space
6,000 sq ft customized condominiums
31,000 sq ft of retail, restaurant and hotel space
• Hyatt Summerfield Suites
131 suites + 1,500 sq ft meeting space
Priest Drive + Warner Road
Opportunities
• Target
T
t corporate
t office
ffi
• Lifetime Fitness
• Ground is available
for office/ commercial
• Property owned by
Tait Development
Traffic
ff C
Counts
• Warner
W
Road
R d
East to west – 30,000 daily
• Priest Drive
North to south -- 28,000
28 000 daily
• Interstate 10
Warner Road exit – 145,000 daily
Area Trends
• The result of IKEA and
Emerald Center is a clustering
of home-related goods.
• A 2-mile home furnishings
corridor featuring CostCo
Home and others is at the
Elliott Road/Warner Road and
Priest Drive area
• The amount spent in Tempe
for furniture and electronics is
about the same as what was
spent to purchase cars
#3
AUGUST 29, 2007
CENTRAL & WASHINGTON AVENUES
Phoenix, Arizona
Bi K
Brian
Kearney
AUGUST 29, 2007
Central Avenue & Washington
History – Hub of Streetcar System
History – Washington Looking West
History – Block 77 (Patriot’s Square)
History – Northwest Corner
History – Northeast Corner
Central and Jefferson Looking North
Washington at 1st St. Looking West
History – Northwest Corner
Today – Patriot’s Square Looking East
Today – Northwest Corner
Today – Looking West
Tomorrow – City Scape
Tomorrow – City Scape
Tomorrow – Hub of Transit System
Current View
#4
AUGUST 29, 2007
SCOTTSDALE & CAMELBACK ROADS
Scottsdale, Arizona
D id R
David
Roderique
d i
AUGUST 29, 2007
Scottsdale & Camelback
POPULATION
5 MILE RADIUS
2012 Projection
197,954
2007 Estimate
,
189,622
2000 Census
183,126
1990 Census
163,224
Growth 2007-2012
2007 2012
4 39%
4.39%
Growth 2000-2007
3.55%
Growth 1990-2000
12.19%
2007 est. Average Household income
$75,720
2007 Household size
2.19
2007 Average
g age
g
39.79
2007 Tenure of Occupied Housing Units
Owner occupied
58.88%
Renter occupied
41 12%
41.12%
2007 est. Traffic Counts:
55,000
Waterfront
• Key
K tto d
downtown
t
revitalization
it li ti efforts
ff t
• 20 years in the making
• Successful mixed-use development
Fashion Square
•
•
•
•
Early 1990
1990’s:
s: 2 malls combine
1998: Nordstrom wing added
2008: Barney’s expansion
powerful mall in the southwest
Most p
Optima / Portales
• Redevelopment of former subdivision
y office and condominium
• Primarily
• Unique architecture
Riverwalk Square
• Former Safari
resort
• Condos under
construction
• Planned retail
and office
component
Stetson Plaza
•
•
•
•
Ripple effect
Stetson plaza: office and retail
W Hotel under construction nearby
Si ifi
Significant
t new residential
id ti l
The Stetson Plaza Project parallels the Waterfront project on the south side of the
canal - Underground public parking, mixed-use office/restaurant/retail buildings, a
public plaza and canal bank improvements.
Early Planning
SCOTTSDALE ROAD & CAMELBACK
Current View
SCOTTSDALE ROAD & CAMELBACK
#5
AUGUST 29, 2007
SCOTTSDALE ROAD & MAYO
Scottsdale, Arizona
D id R
David
Roderique
d i
AUGUST 29, 2007
S
Scottsdale
& Mayo Blvd.
S
Scottsdale
& Mayo Blvd.
Scottsdale & Mayo Blvd.
POPULATION
5 MILE RADIUS
2012 Projection
172,707
2007 Estimate
154,819
2000 Census
131,027
1990 Census
67,742
Growth 2007-2012
2007 2012
11 55%
11.55%
Growth 2000-2007
18.16%
Growth 1990-2000
93.42%
2007 est. Average Household Income
$102,138
2007 Household Size
2.49
2007 Average Age
37.65
2007 Tenure of Occupied Housing Units
Owner occupied
75.87%
Renter occupied
24 13%
24.13%
2007 est. Traffic Counts
80,000
One Scottsdale
S
Scottsdale
& Mayo Blvd.
• Very high end mixed-use
mixed use development
• Signature retail
• Corporate office
Dial Corporate Headquarters
S
Scottsdale
& Mayo Blvd.
• New corporate HQ under construction
• 350,000 sq ft
• Will Bruder architecture
Lund Cadillac
S
Scottsdale
& Mayo Blvd.
• New auto complex under construction
• Distinctive architecture
• Surrounded by state land
Palisene
S
Scottsdale
& Mayo Blvd.
• State land auction in November
• Proposed Westcor mixed-use development
#6
AUGUST 29, 2007
RIO SALADO PARKWAY & MILL AVENUE
Tempe, Arizona
St
Steve
Betts
B tt
AUGUST 29, 2007
History
Mill Avenue & Rio S
Salado Parkway
• This was a vital center of commerce
for the Valley and the most active
river crossing back in the 1800s.
Mill Avenue was a prosperous
business district even then.
• During the past three decades,
Tempe built Town Lake and
redeveloped Mill Avenue as a
unique urban retail and
entertainment center.
• Today
Today, this intersection is
is, not only
the geographic center of Maricopa
County, but Tempe Town Lake is
one of the state’s top tourist
attractions Mill Avenue has become
attractions.
the only naturally-grown & authentic
urban experience in the Valley.
Four Corners
Mill Avenue & Rio S
Salado Parkway
Tempe Beach Park (NW)
• Arizona’s most popular city park & special events
venue
H d F
Hayden
Ferry L
Lakeside
k id (NE)
• 41-acre, 5 million sq ft “Bridge-to-Bridge” urban
mixed-used development
p
Hayden Flour Mill (SE)
• Iconic destination development of specialty retail,
retail
restaurants, offices & hotel
100 Mill Avenue (SW)
• Condominiums, hotel, & retail incorporating the
historic Monti’s La Casa Vieja Restaurant
Special Amenities
Mill Avenue & Rio S
Salado Parkway
Tempe Town Lake
• Bringing 2.5
2.5+ million visitors annually for recreation
and special events
Mill Avenue District
• Dynamic, eclectic mix of shopping, dining & entertainment
Transportation
• Light Rail opening in 2008
2008, access to 4 freeways
freeways,
4 miles from Sky Harbor International Airport
Recreation
• Rowing, biking, sailing, jogging, hiking at the
doorstep of offices & urban living
Cultural
• Tempe Center for the Arts, Gammage Auditorium, & ASU;
all within walking distance or a boat-ride away
Traffic Counts
Mill Avenue & Rio S
Salado Parkway
• 220,000 vehicles view this
intersection each day from Loop 202
• Majority of Sky Harbor’s flights have
birds-eye views of this intersection
• 750,000 people live within a
15-minute commute
• Mill Avenue north to south:
18,500 vehicles daily
• Rio Salado Parkway:
15,000 vehicles daily
• Pedestrian/Bicyclists:
+/- 350,000 annually
Residential
Mill Avenue & Rio S
Salado Parkway
Yesterday
• About 138,000 people within 3 miles,
mostly college students, young adults
Today
• 5,000 new high rise condominium units
coming to Town Lake and Mill Avenue
• Primary audience is empty nesters +
cosmopolitans with more than one home
U d Construction
Under
C
t
ti
/ Planned
Pl
d
• SunCor’s Bridgeview condos,
Avenue Communities’ Centerpointe condos,
NorthShore condos, CampusEdge Lofts
Mosiac, Onyx, The Pier at Town Lake,
Marina Heights condos, Stadium Tower
Commercial
Mill Avenue & Rio S
Salado Parkway
Nearly 4 million sq ft “Class A” office
space will be built within one mile of
this intersection:
Under Construction
•
•
Hayden Ferry Lakeside:
Papago Gateway Center:
550 000 sq ft
550,000
260,000 sq ft
Planned
•
•
Approximately
pp
y 3 million additional sq
q ft
The Pier at Town Lake, Hayden Flour Mill, 100 Mill Avenue,
Hayden Ferry Lakeside “Bridge-to-Bridge”, + others
Early Days
MILL AVENUE & RIO SALADO PARKWAY
Early Days
Present Day
#7
AUGUST 29, 2007
95th AND GLENDALE AVENUES
Glendale, Arizona
J F
Jon
Froke
k
AUGUST 29, 2007
95th & Gl
Glendale
d l Avenues
A
95th & Gl
Glendale
d l Avenues
A
95th & Gl
Glendale
d l Avenues
A
Cotton & Cows
Jobing.com Arena
95th & Gl
Glendale
d l Avenues
A
Super Bowl 2008
95th & Gl
Glendale
d l Avenues
A
Jobing.com Arena
95th & Gl
Glendale
d l Avenues
A
95th & Gl
Glendale
d l Avenues
A
91st Aven
nue
nue
95th Aven
Loop 101
Glendale Avenue
Westgate City Center & University of Phoenix Stadium
Zanjero
95th & Gl
Glendale
d l Avenues
A
95th & Gl
Glendale
d l Avenues
A
9H
Hotels
t l O
Open
by Super Bowl
cbd 101
95th & Gl
Glendale
d l Avenues
A
95th & Gl
Glendale
d l Avenues
A
Glendale
Glendale:
One of the 10 Hottest Intersections
One of the Valley’s Hottest Cities
#8
AUGUST 29, 2007
PRICE & WILLIS ROAD
Chandler, Arizona
Ch i ti M
Christine
Mackey
k
AUGUST 29, 2007
PRICE & WILLIS ROAD
PRICE & WILLIS ROAD
Corner name here
Land Use, Development & Architecture
•Chandler Echelon
• 360,000
360 000 SF Cl
Class A Offi
Office
• Two Marriott Hotels
•Lees Mayfield Developer
•Park Place
• 98-Acre Mixed Use Project
• Includes office, flex, retail and
two hotels
• Developers include
•Cyburt Hall
•Douglas Allred Company
•North Central
•Grand 100’ landscape
setbacks; large water
features; buildings set
forward in landscape setting
Price Road & Willis Road
A
Access
• Loop 101 &
202
• Price Road
• Meandering
sidewalks
connect the
corridor
• Future
transportation
corridor
Corner name here
D
Demographics
hi
• Largest Land Owners:
9 Kuiper Family
9 Park Place
9 Lees Mayfield
• Pop in 5-miles: 227,391
• Median Income: $99
$99,888
888
• 69% have come college
• 5,404 Businesses
• High tech, biotechnology,
fi
financial
i l services,
i
data
d t
centers and regional retail
Safety
•One of the safest intersections in the Southeast
Valley with 219 calls for service in 2006 (less
than .05% of these were violent crimes)
g
•More than 10 times less than the average
intersection in Chandler (less than 1% of these
were violent crimes)
•Chandler’s average is well below Metro average
Area Amenities
•Signature
Signature Location
•Chandler Fashion Center with more than 3 million SF of
retail space
•More than 60 restaurants within 1.5 miles including The
Keg, Firebirds, Cheesecake Factory and Kona Grill
•Three existing hotels; additional hotels include a Hilton
under construction and four hotels in planning for exact
intersection
•Serviced by Chandler Unified School District, considered
one of the leading programs in the state
•High-end, custom housing ¼ mile to the east
Future Outlook
•½
½ Mile South of Chandler
Chandler’s
s “Ground
Ground Zero
Zero”
•Intersection should build-out with more than 2.4
million SF of Office,, Flex,, Hotel and Retail Space
p
•More than 700,000 SF in planning currently
•Planned employment expected to reach 12,000
12 000 at this
intersection
#9
AUGUST 29, 2007
VAL VISTA DRIVE & PECOS ROAD
Gilbert, Arizona
St
Steve
Urie
Ui
AUGUST 29, 2007
VAL VISTA DRIVE & PECOS ROAD
Val Vista Drive & Pecos Road
Spectrum Centre
& Rome Towers
Spirit at
Spectrum
Main Street
Commons
Santan
Motorplex
VAL
L VISTA DR.
PECOS
COS RD.
NWC Val Vista Drive & Pecos Road
Spirit at Spectrum
17.86 acres
Vall Vista Dr.
Future Multi-Family project
200 dwelling units
11 20 dwelling units per acre
11.20
Pecos Rd.
NEC Val Vista Drive & Pecos Road
Spectrum Centre
79,170 SF shopping center
Future Circle K
Future McDonald’s
McDonald s
Future BNC National Bank
Rome Towers
129,000 SF. class-A office / retail
Five stories (bottom floor retail)
Attached parking garage
SWC Val Vista Drive & Pecos Road
Santan Motorplex
130 acres
Largest master planned auto mall in the
nation when completed
Current & Future Dealerships
Santan Ford
A t N ti
AutoNation
Henry Brown Pontiac – GMC – Buick
Henry
y Brown Subaru
Saturn of Santan
Earnhardt Chrysler – Jeep – Dodge
Carmax
Horne Suzuki
SWC Val Vista Drive & Pecos Road
Santan Motorplex
Henry Brown Pontiac-GMC-Buick
(under construction)
Current Dealerships
Motorplex Entrance
Santan Ford (open for business)
SEC Val Vista Drive & Pecos Road
1) Mountainside Fitness
Main Street Commons
(Retail, Gym & Corporate Offices)
Projects in the Development Process
Va
al Vista Dr.
Main Street
Commons
2) Hyatt Place Hotel
3
2
1
3) Hampton Inn Hotel
#10
AUGUST 29, 2007
99th AVENUE & McDOWELL
M DOWELL ROAD
Avondale, Arizona
G
Greg
Vogel
V
l
AUGUST 29, 2007
Early Days
99th AVENUE & McDOWELL ROAD
Vicinity Map
Total Retail SF
S = 1.5 Million
Access
S C 99th & McDowell Road
SEC
• Interstate 10 and Loop 101 ¼ mile from
intersection
• McDowell Road and 99th Avenue offer 3
lanes in each direction – full access to
retail centers
• Valley Metro Bus service on McDowell
Road hourly (January 2008)
Demographics
SEC
• Household
H
h ld Income
I
- $55,117
$55 117 (M
(Median)
di )
- $63,015 (Average)
• Avondale has 3rd highest percentage job
growth from 2000 to 2005, and 2nd highest
annuall home
h
price
i appreciation
i ti
in
i 2006 Money Magazine
• Avondale rated the 9th fastest growing
suburban city in the nation! (July 2007)
F b Magazine
Forbes
M
i
NWC 99th Avenue & McDowell Road
Gateway Pavilions
NWC 99th Avenue & McDowell Road
750 000 SF Power Retail Center
750,000
Anchor tenants include:
•Costco
•Borders
•Marshalls
•Harkins Theaters
•Bed, Bath & Beyond
p
Authority
y
•Sports
•Circuit City
Gateway Crossing
SWC 99th & McDowell
M D
ll Road
R d
Gateway Crossing
S C 99th Avenue & McDowell Road
SWC
248 000 SF Retail Center
248,000
Tenants include:
• BestBuy
y Lobby
y
• Hobby
• Guitar Center
• Old Navy
• Claim
Cl i Jumper
J
Crossroads at Tolleson
SEC
200,000 SF Retail Center
Large Tenants
Include
• World Gym
• Family Christian
Store
• Sleep Savvy
• Sonoran Digs
Area Amenities
99 h A
99th
Avenue & M
McDowell
D
ll
PIR Phoenix International Raceway
NASCAR $473 million annual economic impact!
NASCAR-$473
Restaurants
Hotels
Future Outlook
99 h A
99th
Avenue & M
McDowell
D
ll
La Entrada Village (99th Ave & Encanto Blvd.)
• 60-acre mixed-use development
• Residential & commercial/office village
• Construction to begin mid-2008
City Pointe West (SWC Avondale Blvd. & I-10)
• Planned 1.5 million SF mixed-use site with office, retail
and Sheraton Resort & Conference Center
• Construction to begin late 2008
Phoenix Children’s Hospital
p
• Planned 30,000 SF specialty and urgent care center
• Construction to begin in 2008
Avondale Gateway Center (107th to 115th Avenue along I-10)
• 114-acre mixed-use project to include office, retail and hotels
• Construction to begin in 2008
Current View
99th AVENUE & McDOWELL ROAD
Ten of the Valley’s
Hottest Intersections
Thank You!