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May 18, 2017
New Phoenix Highrise Seen As Sign of City's Downtown Vibrancy
On a downtown Phoenix block that is already seeing a $25 million upgrading of a well-known office and retail complex, plans have been announced for the construction of an even bigger $100 million new building.
That structure will go up on the 400 block of East Van Buren Street and will include 350 apartments varying in size from studios to three-bedrooms units. The project will also include a six-story parking garage, interior courtyard, and swimming pool terrace.
But perhaps it most notable feature will be its height at 31 floors. There are only three other structures in Phoenix that tall: the Chase Tower, built in 1972, at 40 floors; the 44 Monroe, at 34 floors, built in 2008; and the U.S. Bank Center, at 31 floors, built in 1976.
The design for the new structure, which could see construction later this year or in early 2018, is Will Bruder Architects of Phoenix. The developer is the West Palm Beach, Florida-based North American Development Group.
The announcement of the new Phoenix high-rise comes as work is continuing on the upgrading of the Arizona Center, also on that same block of Van Buren Street.
That project is seeing the modernization of a space that was originally built in 1989 and houses office, restaurant, and retail space.
City leaders say the combination of the two projects is only the latest indication of downtown Phoenix’s increasing appeal as an office and residential destination.