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Daily News: Sunday 11/3/19


$101 Million 25-Story Tower Planned for Construction in Downtown Phoenix

A 25-story mixed-use tower planned for construction in downtown Phoenix, AZ has secured a $101 million loan from CIM Group. The tower, which would possess 379 luxury multifamily residential units, as well as 10,500 square-feet of office space. The building will be a part of the Collier Center mixed-use development which currently consists of 550,000 square-feet of office, retail, restaurant, and parking space. The building will be the development’s first residential entry. No estimated completion date has been released.


Plan Submitted for $58 Million Project in Ashwaubenon, WI

An Iowa-based contractor has submitted their plans for how they would turn a currently vacant 6.5-acre lot into a sprawling mixed use project in Ashwaubenon, Wi. Their proposal calls for the construction of five buildings total, with 3 of them housing nearly 230 apartments. The other 2 buildings will each be 4-stories, with one being slated to become a hotel and the other an office building. If approved, the $58 million project will break ground in the summer of 2020.  


Milwaukee’s $100 Million River 1 Development Making Good Progress

Construction is ramping up in Milwaukee’s Harbor District as the River 1 project continues to make progress. The project’s first phase will feature a 130,000 square-foot, 8-story office building (to be occupied by utilities and infrastructure contractor Michels Corp.), a 1,000 space parking structure, and a RiverWalk. River 1’s additional buildings could include two more office buildings, each possessing 50,000 square-feet, a 120-unit apartment building, and a 120-room hotel. If these additional projects come to fruition, the cost of the River 1 project would total over $100 million. 

Skanska Proposes Construction of 26-Story Office Tower in Bellevue, WA 

Developer, Skanska, has submitted a proposal calling for the construction of a 26-story office building in Bellevue, WA. The proposed structure would consist of 556,000 square-feet of office space, 12,000 square-feet of ground-floor restaurant space, and a five underground parking levels with 850 parking spaces. The proposed building’s estimated cost and completion date is currently unknown. 

AZ-Based Developer Acquires Two Office Buildings in Chandler, AZ For $38.8 Million

George Oliver, an Arizona-based developer, has recently acquired 2 office buildings in Chandler, AZ for a price-tag of $38.8 million. Oliver intends to spend an additional $14 million on rebranding and renovating the two buildings. The first phase of construction on the first office building, renamed The Alexander, is expected to begin in 2020 with a $5 million shell-building renovation. The building will receive special amenities including a training center, a coffee and juice bar, an outdoor activity and game area, a billiards room, and a quiet solo-work room. The other office building, named The Jonathan, will receive similar treatment. 

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