A new life may be in the works for one of the most famous buildings in Phoenix.
Published reports are indicating that what has been popularly known as the Punch Card Building at 3443 North Central Avenue may be transformed into a boutique building with both retail and residential space.
Completed in 1964 and designed by famed modernist architect Wenceslao Sarmiento, the structure got its name due to a part of its façade looking like a 1960s-era vertical computer punch card.
The building started out with 11 stories, with another seven added during the following decade. In 2008, the Arizona Republic said the structure had “more personality and style than almost anything else” in the Phoenix skyline.
Officially named the Phoenix Financial Center, the building measures around 285,000 square feet and includes two adjacent 9,000-square-foot rotundas. It has for decades served as office space for a variety of private companies and government agencies.
In recent years, much of the structure has been vacant. A plan announced in the spring of 2022 to transform the building into a multifamily structure never became reality, although some renovation work was done on the 18th floor.
Now the New York-based Left Lane Development is moving in the direction of purchasing the structure, with plans to carve out 192 hotel rooms, 144 multifamily units in the main structure, and 33,000 square feet of events space.
A proposed second building at the 7-acre site could measure around three stories in height and will include meeting space as well as a rooftop deck and swimming pool.
The new name for the structure and site is the Recess Hotel & Club Phoenix.
Left Lane Development is defined as a vertically integrated commercial real estate firm that has taken on significantly large hospitality and multifamily projects in a variety of locations, including Memphis, Pittsburgh, and Providence.
According to the company, the Punch Card project will closely resemble Left Lane’s transformation of the historic Manger Building in Savannah, a 10-story structure built in the Beaux Arts architectural style that was completed in 1913. Plans call for turning that former office structure into a mixed hotel and clubhouse property.
January 21, 2025
By Garry Boulard
Photo courtesy of Wikipedia
