The skyline of downtown Phoenix is primed for change as High Street Residential, Trammell Crow's multifamily arm, seeks to push back the timeline for part two of The Fillmore, a robust mixed-use site. According to a Phoenix Business Journal report, the developers cited shaky capital market conditions as the rationale behind requesting a two-year delay for the project's progression, a pivot that requires an amended agreement with the city.
Since breaking ground in 2019, the initial segment of The Fillmore has taken shape, boasting 330 residential units and a slice of retail space adding up to 10,000 square feet, wrapped up in 2022, the developer persistent in its vision chiseling into the landscape along Fillmore Street and bracketed by Fourth and Sixth avenues, initially projected the project's cost at approximately $140 million. Yet this next wave of construction, which includes another 330 apartments and equal retail square footage, was previously slated to commence by February 2024; High Street Residential currently lobbies for an extension until February 2026, and if the cogs of bureaucracy turn in their favor, the Phoenix City Council will cement this change in an upcoming vote.
While the request for more time echoes down city hall corridors, the first phase has certainly turned heads with its extensive residential offerings and amenities such as concierge services, a clubhouse equipped with various social nooks, and an idyllic urban paseo intended for a cross-section of pedestrian and vehicular traffic, as described in Trammell Crow's own press release. High Street Residential's Paul Tuchin commented on the project's first phase, emphasizing the goal to "appeal to a wide range of potential renters" by harnessing downtown Phoenix's burgeoning growth, especially with the expansion of Arizona State University's specialized programs.
The Fillmore's imprint sinks deep into the fabric of downtown's rejuvenation, with CBRE Global Investors as a joint venture partner and the experienced Chasse Building Team at the construction helm, The Fillmore's conception is a testament to Trammell Crow Company's storied development history, as it is claimed to have developed or acquired Park Avenue behemoths amassing billions in value.
