The landscape of Phoenix's Biltmore Fashion Park may soon be undergoing a transformation with a new addition. Macerich Co., in partnership with Red Development, has recently resubmitted a revised proposal for a mixed-use tower on the northeastern corner of 24th Street and Camelback Road, Phoenix. The original plans, which included a 10-story, 140-foot-tall office tower, have been updated with ambitions to potentially elevate the structure to a maximal height of 165 feet, as ABC15 reported.
The reworked proposal aims to make the tower a hub for not only office spaces but also retail, restaurants, entertainment, hospitality, and residential areas, with the final purposes to squarely be dictated by market demands. Jeff Moloznik, Red Development's senior vice president, expressed that the team is keen to dynamically evaluate the building's uses. "Red and Macerich are kicking around ideas for a commercial building with retail, restaurants, and entertainment as well as office, hospitality and residential," Moloznik told Phoenix Business Journal.
The modified plans were submitted on March 1, teeing up for a potential Phoenix planning hearing officer (PHO) review in April. Ben Graff, from Quarles & Brady LLP and the project's land-use attorney, anticipates a swift turnaround with the PHO. "The hope is for the plans to be heard by the PHO sometime in April," he stated, as per information obtained by Phoenix Business Journal.
After potential PHO approval, the project would still need to pass through rigorous site plan and permit reviews, including construction drawing approval processes. Andy Greenwood, Macerich's vice president of development, said they hope to conclusively determine the building's uses by year's end, with construction possibly starting subsequently. The proposed site for the tower would be located close to the Life Time gym, occupying a segment of the 32-acre Biltmore Fashion Park parcel. The park, under Macerich's ownership, is a currently bustling center that hosts Macy's, Saks Fifth Avenue amongst other notable tenants, as per details provided by ABC15.
Phoenix's Biltmore area has seen increased development interest, highlighted by Macerich's investment in the region. The company also boasts ownership of Scottsdale Fashion Square mall, adjacent to the newly debuted Caesars Republic Scottsdale hotel, as well as potential plans to develop high-end residential and Class A office space on a nearby vacant parcel. In parallel, Red Development's portfolio features prominently in the Valley, with acclaimed projects like The Grove and the recent GSQ in Goodyear, as stated by Phoenix Business Journal.
