Housing Update: “If you build it they will come”

Lofts at McKinleyAny advocate for Downtown Phoenix knows the key to sustained growth is a strong population base.

And that growth is well underway.

As you cruise around Downtown you may have noticed construction crews throughout the greater Downtown area, most of which are working on residential developments.

Roosevelt Point, a complex with a student housing focus at Third and Roosevelt streets, is nearing completion and will be open for the ASU fall semester. Roosevelt Point will bring 609 beds in 326 fully furnished units to the Roosevelt neighborhood on the north side of Downtown.

Projects like the Lofts at McKinley have shown there is a demand for a variety of housing options in Downtown Phoenix. The Lofts opened in October 2012 and filled their 60-units in six weeks.

Other smaller projects are currently under construction or in the planning stages.

UL2, a 70-unit complex at Second Avenue and McKinley Street, is currently under construction and will be completed later this year.

Earlier this month, City Council gave approval to Cooper Place, a 30-unit market rate development planned for Second Avenue south of Fillmore Street. Cooper Place is expected to break ground by the end of this year.

RED Development is building 224 luxury apartments atop the Hotel Palomar at the northwest corner of First and Jefferson streets. The Palomar Apartments are expected to be complete in early 2014.

Also breaking ground late this year will be a 60-unit complex at First Avenue and Roosevelt Street by MetroWest.

Downtown Phoenix has seen steady growth in housing development.  Since 1996 more than 3,600 units have been built with an additional 765 in late planning or under construction.

For more information on Downtown residential development or population growth please visit the research portion of our website, downtownphoenix.com/business/downtown_research, or call David Noble at 602-744-6408.

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David Noble
David is an Economic Development Coordinator for the Downtown Phoenix Partnership.

  1. [...] all the new housing being built up downtown, you could live among this emerging culture in downtown [...]

  2. I realise you all are working to move the downtown up several notches and it takes time. The work that has been done thus far is taking us into a charming side ofa diverse history will more work be done on the old neighborhood near 1st Ave. THe many owners to whom made it through the Metro and have solid roots have a few of us that want them to continue to demo straight both the culture and historical ties of a great moment of both modern and be able to bring the stories of old downtown to life. How about using the Grant Street Mueseum for a place to further the history of Phoenix downtown and the current blending we have going on.