Phoenix has selected a Chicago developer to build the city’s largest and tallest residential high-rise in downtown, a 34-story glass tower that will change the city’s skyline, reports Dustin Gardiner of The Arizona Republic.
Plans for the massive development, known as Phoenix Central Station, include about 475 apartments, 30,000 square feet of commercial space and a dog park. It will meld those uses with a bustling transit hub already on the site at 300 N. Central Avenue.
Smith Partners LLC of Chicago is expected to begin construction on the $82 million development by August 2015 and open its doors in 2017.
David Krietor, CEO of the marketing and planning group Downtown Phoenix Inc., said the Central Station project has the potential to create an entirely new neighborhood within downtown, bringing more than 600 people to a lot that currently serves a limited purpose as a bus and light-rail stop.
Phoenix leaders voted 6-2 to approve the terms of a development agreement earlier this month. The deal includes a controversial incentive package that city officials said is necessary to attract downtown development on this scale.