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Second-Tallest Residential Building Pitched For Downtown Phoenix

(Photo courtesy of Teri Scholz)
In addition to a $25 million makeover, the Arizona Center could welcome a 31-story residential tower.

A 31-story apartment tower is being planned next to the Arizona Center. If built, it would be among the tallest buildings in downtown Phoenix.

North American Development Group, a Florida-based company, wants to turn undeveloped open space at the corner of Fifth and Van Buren streets into Phoenix’s second-tallest residential building. 44 Monroe, located at Monroe Street and First Avenue, is the tallest residential structure.

The project would incorporate 350 units into the complex known as Arizona Center, which has offices, restaurants and a movie theater. Rental rates were not mentioned in the press release, but the tower would feature eight residential floor plans spanning the top 25 stories with a swimming pool terrace and parking garage below.

Once the land deal is finalized, the developer must go through the city’s planning process. In March, Arizona Center launched a $25 million makeover.

News Business
As a senior field correspondent, Christina Estes focuses on stories that impact our economy, your wallet and public policy.