[Source: Angela Gonzales, Phoenix Business Journal] — Plaza Cos. has sold Phoenix Biomedical Plaza to University of Arizona Foundation for $9.85 million, after it paid Ribomed Biotechnologies Inc. about $10 million two years ago for the 2.62-acre parcel. The property, which includes a vacant 33,000-square-foot biomedical building, sits on the northeast corner of Van Buren and Seventh streets, just across the street from the Phoenix Biomedical Campus. That campus houses the medical school jointly developed by UA and Arizona State University as well as the headquarters of the Translational Genomics Research Institute.
UA also is planning to develop a cancer center on or near the Phoenix Biomedical Campus, but officials could not be reached to determine if the former Ribomed property will be used to develop the cancer center. Originally, officials were targeting property north of the campus. [Note: Read the full article at Plaza Cos. sells downtown Phoenix bio plaza to UA for $9.85M.]
[Source: Kim Moody, Garfield Organization] – Because the Form Based Code has not yet been formally adopted by the Phoenix City Council, some developers are taking buildings to the sidewalk (literally). Garfield, like other downtown neighborhoods, is again being hit with another project, this time at the northeast corner of 7th St. and Van Buren.
The developer of the six-story biomedical facility with a six-story parking structure, The Plaza Companies, is asking the City of Phoenix for ZERO set-back and proposes “dumping” their traffic onto Polk and 9th St. Neighbors are concerned and upset traffic will come and go through residential streets. Among the other variances requested is minimal landscaping (going against the City’s push for pedestrian-friendly, shade corridors).
A hearing on this matter will take place at 10 a.m., Feb. 5 in Hearing Room “C” at City Hall. For more information, contact Dana Johnson with the Garfield Organization. For more information about Form Based Codes, contact Dean Brennan with the City of Phoenix Planning Department.