The Central and Thomas tower as originally envisioned in 2019. Credit: SmithGroup/City of Phoenix
By Roland Murphy | AZBEX
A 2.38-acre midtown Phoenix infill site at the NWC of Central Avenue and Thomas Road once planned for a 15-18-story mixed development has come back to life after undergoing major revisions.
Documents obtained by BEX Companies Research staff under a public records request show developer Bond Companies now plans a 31-story apartment tower with 360-units and a build area of 964.7KSF. The site has been owned by Pederson Group since 2002.
Project History
Pederson submitted the original development plans back in 2019. Those plans, approved by Phoenix City Council in Dec. 2019, called for a 244-foot mixed use tower with a lobby and retail on the first floor totaling 22.5KSF. The remainder of the project would have consisted of 324KSF of office space.
The 2019 plan featured Pederson Group as the developer and SmithGroup as the design firm. Construction was planned to begin sometime in 2021.
After the original project was heard and approved by Council in 2019, Pederson Group owner Jim Pederson told BEX staff the plan was to rezone the site and either sell it or structure a joint venture with a developer with expertise in high-rise development. The project was partially overturned with additional stipulations by the Phoenix Board of Adjustment in Aug. 2020.
