Construction
Thomas Brophy. “That isn’t happening.”
Almost 95 percent of downtown Phoenix apartments are leased. That’s a slightly higher rate than in central Scottsdale and Tempe.
These are the apartment complexes where many of the cranes can be found now.
❚ Circa on Central, with 227 apartments at 1505 N. Central Ave.
❚ Portrait at Hance Park, with 239 apartments at 1313 N. Second St.
❚ The Link Phx, with 257 apartments at 702 N. Third St.
❚ The Ryan, with 330 apartments at 125 E. Washington St.
❚ The Stewart, with 312 apartments at 800 N. Central Ave.
❚ Urban Living on Fillmore, with 63 apartments at 609 N. Second Ave.
David Krietor, CEO of Downtown Phoenix Inc., has heard the concerns about the overbuilding of downtown Phoenix apartments and watched the area’s growth cycles for 30 years. He’s not concerned.
“It’s just the beginning for downtown Phoenix’s growth,” he said. “The demand for housing in the area is very deep.”
The most important development still missing in downtown Phoenix has been a grocery store.
Urban growth experts say landing a major supermarket is key to revitalizing an area’s core.
But next year, a 55,000-square-foot Fry’s Food Store will open in Block 23, as well as offices and apartments.
The development across from CityScape and Talking Stick Resort Arena will also bring more retail and restaurants to the area.
“Investing in downtown feels safe, smart, wise,” said Mike Ebert, managing partner of RED Development, which built CityScape and is now working on Block 23.
This city of Phoenix helped spur the grocery project with $18.3 million in development incentives, as well as a longterm property tax break on the land.
More than 100 new restaurants have opened in downtown since 2008, including several at CityScape. Some smaller new retail hubs are thriving as well, particularly in Roosevelt Row.
The 100-year-old Roosevelt District in downtown has become a hot spot for new development in the Valley.
Last year, the Roosevelt Row Arts District within the neighborhood was voted the sixth most popular metro Phoenix area by Urban Land Institute Arizona. The area didn’t even make the list 10 years ago.
Roosevelt Row has also garnered one of the American Planning Association’s “Great Places” designations — Phoenix’s first and only one.
The area that includes the historic Roosevelt neighborhood is drawing many new apartments, restaurants and small retail projects likethe Gold Spot.
“We have a strong desire to save properties with significant history,” said Niels Kreipke of Desert Viking, which renovated the popular retail and eatery center at Third Avenue and Roosevelt Street. “We want to ensure Roosevelt holds onto its vast history and local business ownership.”
Phoenix locals nicknamed the area “RoRo.” It is still probably best known for its First Friday art walk.
One of the latest developments in the district is Ro2, which will bring more than 300,000-square-feet of office space to Roosevelt Row.
The number of workers in downtown Phoenix has nearly tripled to 66,000 since 1995.
A steady stream of companies including Solera Health, Freshly, Uber and Quicken have recently moved into downtown Phoenix.
Those moves and others have spurred more than 1 million square feet of new office space development in downtown Phoenix, including the 300,000 square feet in Roosevelt Row.
About 200,000 square feet of new office space is going up in the warehouse district that has drawn firms like Denver-based Galvanize. The tech education firm is opening a 125,000-squarefoot coding school at Fifth and Grant streets.
The Block 23 development will include 200,000 square feet of office space near the Fry’s.
Downtown Phoenix has gone from having only a few hotels to nine over the past 10 years. And another two hotels are planned for the area.
The $600 million expansion of the Phoenix Convention Center helped spur more hotel development in the city’s core.
❚ Sheraton, with 1,000 rooms, was built in 2008.
❚ Westin, with 242 rooms, went up in 2011.
❚ Hotel Palomar, with 242 rooms, opened in 2012.
❚ Hilton Garden Inn, with 170 rooms, was built in 2016.
❚ FOUND:RE, with 105 rooms, opened in 2016.
❚ Residence Inn by Marriott, with 320 rooms, went up in 2017.
❚ Hampton Inn, with 210 rooms, was built in 2018.
❚ Cambria Hotel, with 157 rooms is under construction.