By Angela Gonzales | Phoenix Business Journal
Hines, an international real estate firm, is moving forward with plans to build a 25-story, 379-unit luxury apartment complex in downtown Phoenix.
A general contractor has not yet been finalized, but SmithGroup has been named as the architect for the 480,000-square-foot structure. Construction is expected to begin during the first quarter of 2019 on 1.5 acres at the northwest corner of Jefferson and Third streets, near the Collier Center and Talking Stick Resort Arena. It is expected to be completed by the fourth quarter of 2020.
While officials with Houston-based Hines officials would not disclose total development costs for the project, sources say it could cost more than $125 million to build such a project.