News Ticker

$52M Roosevelt Point Project Tops Out

By Rebekah Morris for the Arizona Builder’s Exchange

Top: Guests admire the downtown Phoenix view on the 7th floor of Roosevelt Point during the first-ever tour given.

A milestone was reached this week when Roosevelt Row celebrated the topping out of its $52M, 326-unit student housing complex.  Developer partners Concord Eastridge and EdR celebrated the accomplishments of design firm Ayers-Saint-Gross, General Contractor hardison/downey construction, City of Phoenix officials, and the myriad of consultants and subcontractors who have worked on the project.

The 2.89-acre site is located between Third and Fourth Streets, and Roosevelt St and Garfield St in Downtown Phoenix.  The property was purchased for $3.1M in 2008 from ML Manager, the firm responsible for processing approximately $1B in loans and properties from the defunct Mortgages Ltd.

Catering to a Student’s Lifestyle

Roosevelt Point will house students and professionals attending and working in the nearby ASU Downtown Phoenix Campus, the UA College of Medicine, and the Phoenix Biomedical Campus. The prime location is situated directly to the north of the future UA Cancer Center building, which is scheduled to break ground later this year.  Each bedroom has an attached bath, common areas include amenities such as fitness facilities, an outdoor fireplace, study lounge, and tanning dome.  Utilities including high-speed internet are included.  A 400-space parking garage is also being constructed on the site. 7,500SF of retail space will be allocated along Roosevelt and Fourth Streets.

Building in Downtown Phoenix

Large construction projects in Downtown Phoenix are not without challenges.  Project Director _____ of hardison/downey explained that it boils down to logistics: noise concerns, a tight site, and managing a large workforce are challenging.  When questioned about the availability of manpower, he noted that he certainly views qualified talent as a concern, most notably in attracting quality craftsmen.  Hardison/downey has utilized an on-site safety engineer and requires all workers attend a safety orientation.  That process, along with high standards for jobsite cleanliness led to a remark by the developer that the Roosevelt Point project is the cleanest jobsite he had ever seen.

Impact on Downtown Phoenix

A true revitalization of downtown requires residents, as stated by the City of Phoenix.  Long known for being a ghost town after 5pm, the opening of Roosevelt Point will most certainly have an impact beginning when they move in next summer.  Randy Churchey, President and CEO of EdR, financing partner for the project emphasized that Roosevelt Point is a great addition to the neighborhood, adding they are committed to creating a ‘vibrant community that blends into the environment’.

 

list of Major Subcontractors/Consultants:

  • Ayers Saint-Gross | Architect
  • Hardison/downey | General Contractor
  • Smith Group JJR | Landscape
  • Dibble Engineering | Civil Engineer
  • Henderson Engineering | Electrical Engineer
  • PK Associates | Structural Engineer
  • Central Supply & Metal Co | HVAC
  • Genesee Southwest Buildings | Drywall & Paint
  • Hawkeye Electric | Electrical
  • JFN Mechanical Contracting | Plumbing
  • Stone Cold Masonry | Masonry
  • Suntec Concrete | Concrete
  • TPac | Precast Concrete