Downtown Phoenix may be reaching for the skies once more, with a Florida-based developer Mainstreet Capital Partners dropping plans for a towering addition to the Roosevelt Row skyline. The proposed 30-story mixed-use edifice is set to feature 297 apartment units and inject new retail and restaurant ventures into the local scene, according to ABC15.
Strategically positioned at the Northeast corner of Central Avenue and Garfield Street, this 463,198-square-foot building is expected to nest alongside the Valley Metro light rail, bringing convenience and flair to one of Phoenix's most artsy districts. An insight into the project shows that on top of housing, it will include more than 8,000 square feet for ground-floor market and a restaurant as well as 142 parking slots. Despite multiple attempts, Mainstreet Capital Partners didn't chirp immediately with a response to queries about the development.
It's not just living spaces and eateries; city plans reveal the development will rise on a site currently housing the closed-down auto shop, standing among various neighborhood mainstays like the Roosevelt Community Church and a fitness studio. This reconstruction effort is part of a steady march of progress for Mainstreet Capital Partners in the Valley, who have their hands not just in Phoenix but also in Camelback, as detailed by the Phoenix Business Journal.
The stakes may get higher if Phoenix's Central City Village Planning Committee gives the nod to a proposed zoning change on Feb. 12. A thumbs-up would mean building heights could vault from 250 feet to 325 feet, while the developers could pack in up to 50% more density in their projects. The green light is contingent upon developers contributing community benefits and sustainable elements to their builds. Should this go through, a chunk of downtown, from Portland to McKinley streets, could see its silhouette surge skyward.
Phoenix's skyline is no stranger to such ambitious construction, with developers like Intersection Development and teams like Atlanta-based Hatteras Sky and JE Dunn Construction already leaving their mark with unique residential concepts and sizable apartment towers. These include the near-completed 23-story Saiya tower, celebrated for hitting its highest point, promising to add another 389 units and over 12,000 square feet of street-level retail to Roosevelt Row's ever-evolving landscape.
