Plans have now been approved in Phoenix for the construction of a multi-tower project that is expected to cost around $231 million to build.
The 1.1 million square-foot project will go up at the site of the current Public Transit Phoenix Central Station transit center at 300 N. Central Avenue in downtown Phoenix.
Its most distinctive visual elements will be a 30-story tower on the southeast portion of the site, and another 18-story tower to the site’s western side.
As earlier announced, the project will include three hundred residential units, along with retail space, a grocery store, several restaurants, and a hotel.
Additional amenities will see the development of open spaces adjacent to the towers, shade structures, water features, and entertainment space.
The mixed-use project will be built above three levels of underground parking
The developer, Medistar Corporation of Houston, has also announced that the project will include 15 affordable income units.
Medistar specializes in both multi-family residential communities as well as health care facilities.
Last summer the company completed work on the Latitude Med Center in Houston, a project with a 35-story apartment tower and 372 residential units.
Members of the Phoenix City Council have agreed to a 99-year lease with Medistar, with an annual rent for a site that is owned by the city set at around $614,000 a year.
By Garry Boulard
