Bidwills plan Glendale's first skyscraper near stadium

[abomb]

http://www.azcentral.com/community/glendale/articles/0523cardsvillage0523-ON.html

Bidwills plan Glendale's first skyscraper near stadium
Scott Wong and Carrie Watters
The Arizona Republic
May. 23, 2007 03:27 PM

In their first plunge into a major private development, the Bidwill family, which owns the Arizona Cardinlas, plans to build a 4.4 million-square-foot corporate center just south of University of Phoenix Stadium.

cbd101 would bring Glendale its first skyscraper, an iconic tower reaching upward of 40 stories, rivaling Arizona's tallest buildings.

The 77-acre urban community would include a permanent public market celebrating the city's agricultural roots, along with independent theaters that could stage a West Valley film festival and a 10-acre working farm featuring community gardens and open spaces for residents and employees.

The Bidwills are plunking down $55 million to purchase the land from MSD Capital, the investment firm owned by computer magnate Michael Dell.

The first phase of the development could break ground as early as 2009, though the Bidwills still need to work through the zoning and permitting process.

 

[azsouthendzone]

This sounds cool, but we really need an AZ Cardinals theme park

 

[Ryanwb]

Why do I picture Bidwill lighting a cigar with $100 bills?

 

[SeattleCard]

Maybe the Bidwills really are about the benjis?

 

[Scott MS]

Michael Bidwill had so much fun building the Cards stadium, he convinced the family that he's good at it and they need to build something else.

That's how I read it.

 

[Heucrazy]

Why do I picture Bidwill lighting a cigar with $100 bills?

Maybe the Bidwills really are about the benjis?

Yeah heaven forbid anybody develop and build properties that can only be a benifit to their communities, while making a profit.

Those greedy bastards.

 

[azsouthendzone]

Maybe the Bidwills really are about the benjis?

Why wouldn't they be? Everyone in the world is. They are just lucky that Charles Bidwill bought the team on the cheap and they are reaping the rewards. Good for them. Times are changing.

Now its time to build Cardinals Land on Camelback and 91st. We need a theme park.

 

[earthsci]

Maybe the Bidwills really are about the benjis?

I hope that they make gobs of money on this. I hope that they become hugely (1000x more than now) wealthy.

 

[azsouthendzone]

I hope that they make gobs of money on this. I hope that they become hugely (1000x more than now) wealthy.

 

[nurnay]

I picture the 1st floor of this building being a major disappointment for some reason...

 

[ajcardfan]

I could very well be wrong, but it sounds like a money-loser to me.

 

[AZCB34]

Unmentioned is the Arizona Cardinals Hall of Fanme being housed in this building on the 5th floor...which is relevant since that is the average number of wins the team has had since they moved to Arizona.

Anything that keeps as many Bidwills out of the day to day operations of the team is good by me. Maybe appointing Graves as project head will be an added bonus (ooops, didn't mean to say the word bonus there in conjunction with Graves)

 

[AZCB34]

I could very well be wrong, but it sounds like a money-loser to me.

Me too.

Cue the story about how the Bidwills will tighten the team purse strings to offset the horrible situation they walked into thinking they are land developers.

 

[azmike74]

Any word on plans to bring a winning season for the second time since they've been in Arizona?

Sorry for the cheapshot, but I am desperate for a winning team and it was too easy.

 

[azsouthendzone]

I could very well be wrong, but it sounds like a money-loser to me.

How so? Please explain the economics of your opinion?

 

[Derm]

A high-rise?? "People will Die!!!"

(silly reference to Peggy Bilsten, Phoenix City council)

 

[Heucrazy]

How so? Please explain the economics of your opinion?

I am curious as well. When has a high rise ever been a money loser?

 

[football karma]

interesting that Glendale was rumored to get a regional Dell Computer HQ of 5,000 employees --

then a week later or so -- Bill Bidwill buys land from Michael Dell to build an office building -- in the very spot the HQ was rumored to go.

Would solve the issue of Dell Computer buying land from its own CEO ( public companies like to avoid transactions like that) to build a building --

If that building has Dell as a tenant for half of the space or so -- that wont be a money loser

 

[Dback Jon]

interesting that Glendale was rumored to get a regional Dell Computer HQ of 5,000 employees --

then a week later or so -- Bill Bidwill buys land from Michael Dell to build an office building -- in the very spot the HQ was rumored to go.

Would solve the issue of Dell Computer buying land from its own CEO ( public companies like to avoid transactions like that) to build a building --

If that building has Dell as a tenant for half of the space or so -- that wont be a money loser

That is very interesting...

 

[Card Trader]

How so? Please explain the economics of your opinion?

They don't have one...they are just the typical fans that bash ANYTHING the Bidwills do.

 

[Sandan]

I'm waiting for the 'Greedy Bidwill's' comments

 

[ajcardfan]

interesting that Glendale was rumored to get a regional Dell Computer HQ of 5,000 employees --

then a week later or so -- Bill Bidwill buys land from Michael Dell to build an office building -- in the very spot the HQ was rumored to go.

Would solve the issue of Dell Computer buying land from its own CEO ( public companies like to avoid transactions like that) to build a building --

If that building has Dell as a tenant for half of the space or so -- that wont be a money loser

Yep - that would that would be a better deal in that case. I didn't see how in the hell they were going to fill 40 floors. That's the backbone of the thing. The farm and all that other stuff is kind of gimmicky.

 

[ajcardfan]

I am curious as well. When has a high rise ever been a money loser?

I don't know. But, if they were such slam dunk money-makers I'd think we'd see more of them than malls and such. Tempe has had a hell of time getting their high rise developments built along the lake.

 

[dreamcastrocks]

I could very well be wrong, but it sounds like a money-loser to me.

Real estate ventures are rarely unprofitable.

 

[ajcardfan]

Real estate ventures are rarely unprofitable.

Good. I hope they make a killing. There's no doubt that they are sinking a LOT of money into this deal before they can start to see a return on it. Of course, the land itself is a huge asset to have. If they have a major tenant lined up already, then that's a good thing.