central station deets
https://www.bizjournals.com/phoenix/...-downtown.html
One of the central blocks in downtown Phoenix could be transformed into a mixed-use development with two high-rise towers.
The city of Phoenix selected a proposal submitted by Electric Red Ventures LLC, a company owned by Houston-based Medistar Corp., for redevelopment of the Central Station transit depot.
The 2.6-acre site is bounded by First Avenue to the west, Central Avenue to the east, Polk Street to the north and Van Buren Street to the south. Developments submitted to the city were required to incorporate the two light rail stops and bus station on the parcel into the design.
The winning proposal features two high-rise towers that will include:
150 hotel rooms
300 market-rate residential units
217 units of student housing totaling 600 beds
47,350 square feet of ground-floor retail, restaurant and grocery uses
35,350 square feet of office
A 300-foot, 30-story tower will include the apartments and hotel. A smaller 200-foot, 18-story tower will include the student housing component. A third, three-story building will be on the site, according to information from the city.
The development’s construction is projected to have a $362 million economic impact, $127 million of which will be wages. According to an economic analysis done for the project, the development will create 1,249 permanent jobs.
Early building renderings show roof terraces with plants, and plans call for dining and retail uses along all streets, sitting space and water features. The buildings will have underground parking to include spots for the public using the restaurants and stores.
Plans call for Greystar to manage the apartments and student housing, InterContinental Hotels Group to manage the hotel, Poag Shopping Centers to manage the retail and Medistar to manage the office space.
The city released a second request for proposals to redevelop the site in June. It went through the process before for the site in 2013. During the initial planning process, developer Bill Smith of Chicago-based Smithfield Properties died. His family opted not to continue the process and sent the city back to the drawing board.
The proposal now will have to go through the city’s approval process and is expected to be before the council sometime in spring 2019. According to the proposal, Medistar expects substantial completion on the project by March 2023.
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wish it was taller and more signature but its a reputable builder and a decent size.
I accept but I am not impressed if it is indeed 30 stories the rendering scale is off.