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Old September 12th, 2014, 12:31 PM   #1
desertpunk
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PHOENIX | Central Station Tower | 110m | 360ft | 34 fl | Pro



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Smithfield Properties Wins 483KSF, $72.3M Central Station in Phoenix



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Smithfield Properties is being proposed as the winner of the Phoenix Central Station project. The project appears to be an “air-rights” development over the Central Avenue-Van Buren Street intermodal transit center, which is to be transformed into a 476-unit residential tower attached to parking and the transit center.

“Air rights” development occurs when the city retains ownership of the ground and a ground-level facility—in this case the transit center—and allows the developer to construct the new building above that city property. At press time, AZBEX was unable to confirm whether the land will conveyed fee simple, ground-leased or if the developer would use air rights.

Phoenix Economic Development Program Manager Eric Johnson said the design-build development is being handled by Smithfield. Johnson also said he could not discuss any project details because negotiations are ongoing and the procurement process is still open.

The Chicago-based developer has built similar high-rise residential towers in the Midwest. Under construction now is the 33-story, $55M, 324-unit SoNo East on Chicago’s Gold Coast.

The developer proposes the 34-story residential tower—with a mix of market-rate studio, one- and two-bedroom apartments—adjoining a multistory parking garage built over 10KSF in office space and the intermodal Central Station transit center.

The company projects the construction cost at $72.5M.

[...]

http://www.downtownphoenixjournal.co...id-krietor-10/
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Old September 15th, 2014, 06:03 AM   #2
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Wonderful news for Phoenix. It seriously needs densification and this is a step in the right direction.

The article mentioned it would also serve as an intermodal transit center. What transit options does Phoenix currently have?
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Old September 15th, 2014, 09:31 PM   #3
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Originally Posted by msquaredb View Post
Wonderful news for Phoenix. It seriously needs densification and this is a step in the right direction.

The article mentioned it would also serve as an intermodal transit center. What transit options does Phoenix currently have?
It's a light rail line.
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