Downtown Phoenix Developments
March 6th, 2008 Posted in Central Phoenix, Downtown PhoenixThe hottest trend is the residential development in
downtown Phoenix and in surrounding central Phoenix
locations. The new housing developments, condo’s,
lofts cater to residents looking for a dynamic urban
environment, shorter commutes, and easy access to nearby
cultural, sports and entertainment amenities
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W Hotel Scottsdale & Residences
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Every city has a few
crown jewels, but in 2008, Phoenix plans to pile on the
razzle-dazzle.
Several downtown projects, which are expected to wrap up
this year, could have huge influence on the heart of the
city, insiders say.
The list includes light rail, Arizona State University’s
journalism school, the expanded Phoenix Convention
Center, the Sheraton Phoenix Downtown Hotel and
44 Monroe, the tallest residential building in
the state.
"I see 2008 as the first wave of the perfect storm,"
said Terry Madeksza, director of operations for the
Downtown Phoenix Partnership, a group of downtown
merchants and landowners.
That’s because each project will help lure thousands of
visitors and full-time residents, she said.
The 2008 projects also represent a staggering public
investment.
The light-rail line, the Sheraton hotel and the
convention center expansion represent more than $2
billion in public financing.
Next year will also bring huge milestones for downtown
development.
For instance, the first phase of CityScape - a
$900 million cluster of shops, offices, high-rise
dwelling and hotels - is scheduled to open in 2009 and
another high-rise condo tower, Omega, would be in the
midst of construction.
"At the end of 2008, we won’t be finished," said John
Chan, the city’s downtown-development director. This
year’s projects "will carry that momentum beyond."
W Hotel Scottsdale & Residences–
a retail, residential, entertainment and hospitality
district in old town Scottsdale that is expected to cost
$500+ million when completed. The 1.1
million-square-foot mixed-use project will be built on a
10+ acre site located just east of Scottsdale Road
and south of Camelback Road.
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