I just view the Phase 2 as Gilbert’s way of waiting to see what the future downtown market demands. Granted it may only be a year from now when that decision has to be made, but December 2019’s worth of knowledge is still better than today’s knowledge.

To me, the main limiting factor is the underground parking garage. As I mentioned in an earlier post, I have to believe they will be including a giant underground garage that will encompass both Monroe Blocks. And for cost and logistical purposes, it makes sense to build that garage for both blocks at the same time. It may take them all of 2019 to excavate the hole to build that underground garage, but once they start building it, they have to at least know the heights of the building going on top of it.

So they probably have until this time next year to decide what to do with Monroe Block Phase 2... because that is likely when the underground garage will start construction in the soon to be excavated big hole.