Plans are progressing to renovate the tallest building in Phoenix: the Chase Tower, which was completed in 1972 at a cost of $41 million and opened the following year.
The structure at 201 North Central Avenue has been mostly empty for the last four years after the Chase Bank relocated its offices to Tempe.
Since that time, city officials have been working with the owner of the building, Viola Lordsmeer LLP, which purchased the structure in 2018 for $107 million, on a redevelopment plan.
According to published reports, Chris Mackay, director of the city’s Community & Economic Development Department, has said that parts of the structure have already been gutted as a first step towards redevelopment.
Designed by the Los Angeles-based architectural firm of Welton Bracket, the building was originally called the Valley Bank Center.
At the time of its opening in 1972, it was noted that the structure had 21 elevators and two escalators, a concourse level restaurant and coffee shop, and restaurant and cocktail lounge on the 37th floor overlooking the city.
July 18, 2025
By Garry Boulard
Photo courtesy of the City of Phoenix
