Real Estate Blog

Big projects being developed in downtown Phoenix

The city blocks between the sevens throughout downtown, midtown and uptown Phoenix are no longer day-time communities after more than a decade of investments into the area. The region between Seventh Avenue and Seventh Street has become an urban epicenter, attracting jobs, restaurants, venues, events and residents as developers have refurbished and built new places for folks to live, work and play.

The midtown and uptown areas have grown exponentially in the past few years from commercial development, with more projects on the horizon. But downtown Phoenix is where the success story began, and it’s set to continue as developers work to change the skyline between the sevens with high-rise developments and mixed-use projects.

“There is a real economic transformation underway throughout the region, particularly the high density of projects in the urban center of Phoenix,” says Chris Camacho, president and CEO of the Greater Phoenix Economic Council. Between 2005 and 2014, downtown Phoenix’s 1.7-square-mile redevelopment area has received $4.7 billion worth of investment, according to the City of Phoenix. Phoenix defines this redevelopment area as the city blocks between Seventh Avenue and Seventh Street and McDowell Road and Lincoln Street.

Developers are working on projects like Block 23, which will bring the first Fry’s Food Store into Phoenix’s downtown urban core. The project will also include offices and multifamily components and is located right across the street from CityScape and Talking Stick Resort Arena. “A simple glance across the skyline shows a number of construction cranes that are indicative of the maturing centerpiece to the Valley,” Camacho says. “The new development, much of which is anchored near light rail, is creating a modern sense of place in jobs, residences, art, culture and attractions for both residents and business alike.”

Michael Black - Realtor
Russ Lyon Sotheby's International Realty
6900 E Camelback Rd
Scottsdale, AZ 85251