Daily Archives: January 19, 2010
Girard DeMuro owns Be.Headed Salon in a small business district called Paisley Town on lower Grand Avenue. According to videographer Kelly Rogers, the salon, along with the other locally owned businesses taking up residence in the enclave, bring an inspiring sense of collaboration and community to the area, pursuing their dreams and creative endeavors.
This past November, local networking group, Radiate Phoenix, hosted a forum between bloggers, neighbors, and business owners on what’s lacking in the area. Videographer Kelly Rogers made their voices heard.
The Rusty Spoke hosts a weekly community bike shop for the downtown Phoenix community. The facility, open every Sunday from Noon to 6 p.m., is located at Fractal, Bragg’s Pie Factory on Grand Avenue.
[Source: Andrew Johnson, Arizona Republic] — The U.S. Securities and Exchange Commission has resolved fraud accusations it brought against an investment arm of failed commercial real-estate financier Mortgages Ltd. The federal agency on Monday announced that Mortgages Ltd. Securities LLC agreed to an order revoking the company’s registration as a securities broker-dealer.
The SEC also sought $7.3 million in penalties and prejudgment interest but waived the amount because the investment firm demonstrated a lack of funds to pay. The action stems from the downfall of Phoenix-based Mortgages Ltd., once considered Arizona’s largest private commercial lender.
Mortgages Ltd. distributed more than $900 million in loans for real-estate acquisitions, development, and construction projects… Mortgages Ltd.’s failure led to the collapse of several high-profile real-estate projects, including Hotel Monroe in downtown Phoenix and the Centerpoint condo towers in Tempe. It also left the company’s thousands of investors, many of them retired, in the lurch. [Note: Read the full article at Fraud case ends for Phoenix’s Mortgages Ltd.]
[Source: Jahna Berry, Arizona Republic] — Most of the units in 44 Monroe, the swank, 196-unit luxury high-rise could be headed for foreclosure. The bank has filed a notice of trustee’s sale, the first step toward taking over 182 unsold condos. The units are scheduled to be sold to the highest bidder on April 14, according to county documents. A notice of trustee’s sale doesn’t always end in foreclosure but it’s a signal that the project has serious financial problems.
The 44 Monroe owes Corus Construction Venture, LLC $86.8 million, according to county documents. Officials at Grace Communities, the project’s Scottsdale developer, declined to comment on today. The project near 1st Ave. and Monroe St. was completed in 2008.
44 Monroe’s lender collapsed and was taken over last year by the FDIC, which owns a 60 percent stake in Corus Construction Venture, LLC. The rest is of the firm is owned by private equity consortium led by Starwood Capital Group.
This is the second upscale high rise in the heart of downtown Phoenix to face financial trouble in recent months. The Summit at Copper Square, a 165-unit condo complex, sought Chapter 11 protection October. The developer headed to bankruptcy court to stop its lender from foreclosing on 74 unsold units. The Summit’s bank, Scottsdale’s Stearns Bank, filed a notice of trustee sale last summer.
Before the recession and the housing bust crippled the economy, Phoenix leaders hoped that affluent condo dwellers who lived in projects like 44 Monroe and the Summit would help revive downtown Phoenix. [Note: Read the full article at 44 Monroe luxury condos in downtown Phoenix on road to foreclosure.]
In this know99 television segment, the Roosevelt School District in Phoenix honored the legacy of Dr. Martin Luther King, Jr. with a celebration involving every school in the district at one big event.
Below is the transcript of Steve Weiss’ welcome address at the opening of the Downtown Voices Coalition’s Visioning Conference on January 15, 2010 at the Matador Mexican Restaurant.
Good evening and welcome to the pre-event for tomorrow’s Downtown Voices Coalition Visioning Conference.
You know, Downtown Voices was formed in a place just like this. As a matter of fact, if the Matador bar wanted to, they could create a new drink called the DVC. All you need is a shot of good tequila and a signature on an article of incorporation!
What some may not realize is that Downtown Voices Coalition was the culmination of a chain of events that began with a move to bring a pro football stadium to downtown. As the art folks and small business owners got wind of the plan, they felt their work to make a new and interesting arts district was going to suffer with a giant stadium plunked in its center. Though the protests didn’t stop the demolition and razing of the Evans Churchill neighborhood by speculators and the City, it did manage to shine a light on the project, and successfully persuade the city officials to put the idea aside.
For the first time, artists and small business folks started talking to each other. Then, the Jerde Project, a big box mall development, was floated as another direction for downtown. Ideas were being discussed for another ASU campus, and suddenly the University began as a player in the fate of the downtown community. The fledgling organization known as D-PAC, the Downtown Phoenix Arts Coalition, felt now was the time to get the other voices heard, ones that didn’t have political power or an outstretched hand looking for tax incentives and variances.
The result was an event singular in the City’s history: A one-day facilitated discussion at the Icehouse of over 80 downtown stakeholders, to determine what WE as a group wanted for the future of downtown Phoenix. The resulting report created from the discussion was titled “Downtown Voices: Creating a Sustainable Downtown.” It was not only presented to the City of Phoenix, but also found its way into many of the aspects of the newly created Downtown Strategic Plan.
On that day, when we all met and talked, new relationships were formed.
Artists, business owners, developers and, yes, even city officials began to realize that the ultimate goal of the downtown stakeholders were actually very similar.
However, as the dust began to settle from the good work done, development projects in once untouched and unwanted areas began to rise. We as stakeholders learned how zoning by variance and self-imposed hardships could dramatically change the development rulebook.
A key group of stakeholders, coming from different backgrounds yet tied together with similar concerns, realized it would be beneficial to speak with one voice, the voice of what became the Downtown Voices Coalition. We met with a lawyer at the old Ramada Inn downtown bar, and with a toast, began our first mission and organization.
Negotiating a better project for The Summit at Copper Square became our first test, and as we created our organization’s bylaws and elected officers, we found direction from that initial Downtown Voices document.
It was a boom time, and it seemed many times we were playing Whack-A-Mole, that great carnival game where hitting one pop-up mole only made another rise. We found ourselves as a group both welcomed and disparaged. The tactics of “Agitate, Negotiate and, when all else fails, Litigate” brought us through a series of events with many successes and some sad losses.
A Tibetan Buddhist Lama, whom when asked at a conference the definition Buddhism, replied “Divine Common Sense.”
It is regular old common sense that drives our group, and something else just as tangible. Dr. Howard Cutler has worked with His Holiness the Dalai Lama to write three books, The Art of Happiness, The Art of Happiness at Work, and The Art of Happiness in a Troubled World. In each book, the over-arching view expressed that people as a common goal ultimately desire happiness above all else.
As I’ve worked with this group of fellow DVC members, I’ve come to realize that each member seeks the same thing: Happiness in their lives and in their community. There isn’t one member of DVC who wouldn’t want happiness above all other things. The desire is a better place to live, a better place to create sustainable businesses, and a genuine dedication to staying here and making it a great city for all of us.
An example of how different this sentiment can be expressed was in one particular issue, when a proposed out of scale development’s lawyer declared in front of City Council that he’d “never dealt with people who didn’t want to raise their property values.”
The truth is, we represent people who aren’t moving toward the next buck or the next city, to which it’s more important to raise living values than financial values.
Since 2004, new blood with new ideas have entered the downtown picture. Individuals are drawn to the small-town feel of the 5th Largest City in the Nation, great small businesses have enhanced neighborhoods, partners have been found in thoughtful development, and the ASU Downtown campus is showing signs of like-minded goals for that sustainable, cool, and enhanced downtown where we all will happily live, work, and recreate.
In these circumstances of a down-turned economy, it seems appropriate to take a breath, reflect a bit on the past, but, most important, look forward.
- What is the City that we hope for?
- What have we achieved and what can we improve?
- How can we get more voices to speak as Downtown Voices so that together we can create that happiness we all desire?
These are tomorrow’s questions, and the facilitated discussion we begin at 10 am at the A.E. England building at OUR Downtown Civic Space will help to provide some answers.
Tonight we reflect, remember old battles, good friends, vocal and silent partners. Tomorrow we begin anew and renewed, with new ideas and voices, to create a better Phoenix.
I toast the future. To the city of Phoenix!
[Source: City of Phoenix Youth & Education Office] — Phoenix Teaching Fellows is offering the chance to train new teachers, even without previous experience or coursework. The organization recruits talented individuals from diverse backgrounds who can use their knowledge, experience, and records of achievement to positively change the lives on students in Phoenix. Participants will train and earn their teacher’s certification with other outstanding Phoenix Teaching Fellows. Click here to find more information or to apply.
[Source: Arizona State University] — The ASU Office of University Initiatives is interested in getting feedback on how the university can establish mutually beneficial relationships with community-based organizations from large entities like Teach for America to schools and small non-profit organizations. More specifically, they want to make sure that the university develops tools that local organizations will actually use and will support your work.
To provide some context, they are coordinating a series of spring dialogues to promote social embeddedness through community-university partnerships. The goal of these conversations is to connect individuals internal and external to ASU and to provide tools to foster enhanced community-university partnerships. Leading up to the dialogues, ASU will conduct focus groups with students, faculty, and community members on each campus.
The downtown Phoenix session is Thursday, January 21, 2010, 2-3:30 p.m., Cronkite Building, Room 122, ASU at the Downtown Phoenix campus. To attend, please RSVP via e-mail to Janelle Elizares Knapp.