Mortgage And Real Estate News

Sunday, December 18, 2011

Lofts planned near stadium

A proposal for a $100 million-plus apartment complex along Miller Road just east of Scottsdale Stadium and the San Francisco Giants training complex has some residents complaining that it will be too tall and too big for the property and their neighborhood.

Scottsdale-based Continental Group wants to build Bristol Stadium Lofts, which would tentatively include 224 units with nine stories closest to the stadium and descending to five stories on the Miller side. The complex would be built on a 1.7-acre lot west of Miller and north of Osborn Road. There are four vacant buildings there now.

The complex could include three levels of underground parking with more than 370 parking spaces. The only entrance to underground parking would be on Miller.

Continental Group's proposal is seeking a building-height increase and other amendments to existing development standards under the city's downtown infill-incentive district and plan. The developer already has scaled back the maximum height from 125 feet to 85 feet after speaking with residents and city planners.

"The property as it now stands needs to be redeveloped -- it's past its prime," said Terry O'Neill, project manager. "You have (Scottsdale Healthcare Osborn Medical Center) expanding with the new tower going up, and there is a need for rental accommodation for Scottsdale and especially for the new employees of the hospital."

"We think that the neighborhood has fallen into a dilapidated state, and it's time to make a change," said John Lupypciw, Continental Group's CEO. "We don't need a larger parcel to develop this fabulous opportunity. It's about the design and how you structure to fit the property."

The developer met with more than 20 residents at the site recently to explain the plans and receive input. Several residents said they like the concept and design, but it's just too big for this

by Edward Gately The Arizona Republic Dec. 9, 2011 02:13 PM




Lofts planned near stadium

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