Thing Are Moving Up Downtown

I think most people are trying to avoid driving around the downtown Phoenix area lately. The construction for the light rail is really making it difficult to navigate Central Ave and some of the surrounding neighborhoods. I had an appointment last week to show property to some out of state clients who were looking in Tapestry on Central and the Artisan on Central Lofts. Once we were done I bravely ventured down Central Ave to see how things were coming at 44 Monroe and Summit at Copper Square, two of the larger high rise condo projects in Phoenix. I was amazed at the amount of construction going on everywhere, and not just for the light rail line. Buildings and structures are going up everywhere you look. The residential standouts were 44 Monroe and Summit at Copper Square, plus the new Sheraton Hotel. ASU is moving at light speed with new education and housing facilities going up all around their downtown campus. It’s amazing to see how much activity is going on considering the
slow housing market.

I have always believed that downtown Phoenix was not quite the destination that it really wanted to be, either for visitors or for residents. It’s a great place to catch a game or a play, weekdays are active and bustling, but it has always had a tendency to empty out after 5:00 pm. Weekends had that kind of strange, empty, ghost town feel to them. I thought light rail system would help, but it was still lacking the residential population base to make it a hip destination. Now I’m convinced that the ASU presence, along with a functioning light rail system, will turn downtown Phoenix into a place that people want to visit, and want to live in. One thing is for sure, these are not the days of the starving students anymore,…students spend money. Throw a large student population into the Copper Square mix and watch the shops, trendy clubs, boutiques and restaurants come in right behind them.

Last week newly reelected Phoenix mayor Phil Gordon gave his victory speech in the Summit at Copper Square building, the first formal event to be held there. As I stood outside the 22 story tower and looked across to the plaza in front of Chase Field, I realized that downtown Phoenix was finally turning the corner it has been trying to turn since Jerry Colangelo chose to build a new stadium for the Suns off Jackson St.

The future for downtown Phoenix and Copper Square is bright, I can’t wait to watch it unfold.
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One Guy’s Opinion

A lot of negative things are being said and written about the light rail in general and all the urban development that has been planned or built over the last four years but I gotta say that I really like the direction that this city is going. Have mistakes been made? Absolutely. Are we still a long way off from achieving pedestrian friendly dense neighborhoods? Yep. But, take a drive along the rail route (do it on the weekend or else you’ll lose your mind waiting in traffic) and check out great developments like Century Plaza and Portland Place. Slow down and admire the architecture of Chateaux on Central. Swing by Summit at Copper Square. These are all fantastic projects and really add to the city.

I’m not saying that we don’t have a lot of problems on the horizon. After all, it’s clear that there are not enough buyers for the units being built. We have excess inventory that will most likely take five or more years to absorb. But, if it hadn’t been for the crazy market of 2003-2005 we may never have seen buildings like those mentioned above. The positive fundamentals of our city will eventually solve all the current problems and we will have a better city for it.