Plans are advancing for the construction of a 21-story high-rise near the edge of the historic Roosevelt Row in downtown Phoenix.
Construction of a just over 493,000-square-foot building that will house 320 residential units will also see the building of some 5,500 square feet of retail space on the ground floor.
Additional amenities: a swimming pool, sport court, and dog run.
The project belongs to JRG Capital Projects of Chicago, which acquired the property at 1101 N. 1st Street in 2021 for $7.7 million.
JRG Capital specializes in urban in-fill mixed-use work and has been primarily active in its home base of Chicago, developing upwards of $1 billion in multi-family and retail projects.
The site for the new Phoenix project has been vacant for well over a decade but was formerly the home of a two-story office building that was demolished in 2009. JRG Capital has now received preliminary approval for the N.1st Street project. An exact schedule for when work will begin on the building has not yet been announced.
June 30, 2026
By Garry Boulard
Graphic courtesy of Unsplash
