November 21, 2024 8:22 pm
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Scottsdale developer to embark on second downtown Phoenix apartment tower

The developers of The Stewart Apartments in downtown Phoenix, pictured in this architectural rendering, plan to build a similar luxury apartment tower nearby. / Courtesy Cushman & Wakefield / Phoenix Business Journal

 

17-story multifamily unit expected to be completed in early 2021

By Angela Gonzales | Phoenix Business Journal

The Scottsdale developer of the Stewart Apartments — a 312-unit, 19-story high-rise apartment tower in downtown Phoenix — is about to embark on another tower nearby, just as its parent company is preparing to work on another custom homes project in Arcadia.

Geoff Jacobs, principal of Aspirant Development LLC, a division of Scottsdale-based Empire Group, said he expects to break ground in April on a 17-story, 254-unit project called Aspire. He estimates it will cost about $80 million to develop.

The project will be at Third Avenue and Fillmore Street, about half a mile from the Stewart, 800 N. Central Ave.

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