In downtown Phoenix, construction is hot, hot, hot!
Downtown Phoenix is experiencing one of the country’s biggest construction booms with more than a dozen projects in play totaling more than $1 billion.
Several hotel, multi-family and office projects are all close to starting construction in the downtown area of Phoenix, the fifth largest city in the country.
Market Overview
Downtown Phoenix is a major financial and government center for the southwest.
Wells Fargo, JP Morgan Chase and Bank of America all have a major presence in the neighborhood, as does Arizona State University. City, state and county government offices are also located in downtown Phoenix.
All of this makes the city center an attractive center for new development. Apartments lead the way in construction, but there are also hotel and commercial construction projects underway or in planning in the Valley of the Sun.
Fun facts
Did you know the skyline of downtown Phoenix was used in the opening scene of Psycho?
Did you know residents of Phoenix are called Phoenicians?
These are five notable projects expected to break ground in the next few months in downtown Phoenix.
Central Station Redevelopment
Plans call for a 37-story tower and a 19-story tower. Inside the 37-story tower is 152 hotel rooms, 48,000 square feet of office space and 321 residential units. The 19-story tower is expected to include 252 student housing units with 612 beds, which is pretty handy given that the project is a block away from The Arizona State University’s Downtown Phoenix campus. This tower will also include 9,000 square feet of office space.
| Value | $231 Million |
| Location | Bound by First Avenue, Central Avenue, Polk Street, and Van Buren Street in Phoenix, Arizona |
| Start Date | Summer 2020 |
Talking Stick Resort Arena
Extensive upgrades to the arena where Phoenix’ NBA team plays that will include new seating, a new video board, upgraded suites, and new food and beverage options.
| Value | $230 Million |
| Location | 201 E Jefferson St in Phoenix, Arizona |
| Start Date | Summer 2020 |
4th and Pierce Apartments
Plans call for the construction of a 28-story, 286,247-square-foot apartment tower with 234 units.
| Value | $55.8 Million |
| Location | 700 N Fourth St. in Phoenix, Arizona |
| Start Date | Spring 2020 |
Broadstone Portland
Plans call for the construction of a five-story mixed-use development with 161 studio, one- and two-bedroom units ranging from 620 square feet to 1,600 square feet. the development will be built on top of two levels of podium parking and an amenity deck with a outdoor pool and a fitness facility.
| Value | $40 Million |
| Location | Roosevelt Street and North Third Street in Phoenix, Arizona |
| Start Date | Spring 2020 |
EcoPHX
Plans call for a five-story, 70-unit residential building will have solar panels and other energy efficiency mechanisms to make it a net zero development.
| Value | $5-25 Million |
| Location | 301 West Roosevelt Street in Phoenix, Arizona |
| Start Date | March 2020 |
These Downtown Phoenix projects are in planning:
The Fillmore Phase II
Plans call for the construction of a mixed-use development with the second phase consisting of upwards of 350 apartment units and another 7,000-square-foot restaurant and retail space.
| Value | $145 million |
| Location | Fillmore Street and Fourth Avenue in Phoenix, Arizona |
Fifth and Van Buren Apartments
Plans call for construction of a 243-unit apartment community.
| Value | $25-100 million |
| Location | 520 W Van Buren St in Phoenix, Arizona |
Holiday Inn Express and Suites
Plans call for a new 120-room Holiday Inn Express and Suites hotel. The building will have a casual 2,503-square-foot restaurant pad on site along with a conference center and gym.
| Value | $5-25 million |
| Location | 950 West Van Buren Street Phoenix, Arizona |
Roosevelt Row
Plans call for an apartment complex with 309 studios to two-bedroom apartments. The average unit size will be 655 square feet and 10 percent of the units will be marked as affordable housing. The complex will also have restaurants, 7,000 square feet of retail, co-working space, an amenities deck, and 201 residential and six commercial parking spaces.
| Value | $25-100 million |
| Location | 809 N 6th Street in Phoenix, Arizona |
Hyatt Place
Plans call for construction of an eight-story, 240-room Hyatt Place hotel on a 0.6-acre parking lot.
| Value | $25-100 million |
| Location | NEC of 2nd Ave and Adams St in Phoenix, Arizona |
Luhrs Building Hotel Conversion
Plans call for the partial conversion of floors one through nine of the Luhrs Building into a 92,000-square-foot upscale hotel.
| Value | $5-25 million |
| Location | 11 W Jefferson St in Phoenix, Arizona |
For owner/developer/architect and GC contacts for these projects and thousands more contact BuildCentral.
For the best new hotel, multifamily and commercial construction leads in Phoenix or elsewhere in Arizona, call BuildCentral at 866-316-5300 or sign up for a free trial at ConstructionWire.com.