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Biltmore Optima Towers - Phoenix
Tour Address: 4808 N 24th St 230 Phoenix, AZ 85016
Tour #: 1557358 MLS #: 2997356
The downtown area of Phoenix has been undergoing a major facelift since the
building of the US Airways Center (formerly America West Arena) and Chase Field.
Coffeehouses, restaurants, nightclubs and shopping in the Arizona Center
continue to draw people downtown for the hopping nightlife. Many new restaurants
have blossomed, including A League Of Our Own. Incorporating the themes of
Phoenix's early history with culture and local events, Copper Square is a full
square-mile hotspot for activities and action. Downtown attractions include a
walk in the park at Patriots Square or delve into the new Arizona Science
Center, Phoenix Museum of History or the Phoenix Art Museum.
Here's a rundown of the 2008 Central Phoenix projects:
Completion date: December.
Significance: The 20-mile light rail line is expected to be a crucial resource
for downtown commuters and tourists. It links key downtown Phoenix spots -
sports venues, hotels, restaurants, employers and ASU's downtown campus - to
Mesa and Tempe.
Cost: $1.4 billion.
W HOTEL TO BE CENTERPIECE OF RETAIL-ENTERTAINMENT-HOSPITALITY-RESIDENTIAL
Scottsdale – The developer of the W Scottsdale hotel is planning a retail,
residential, entertainment and hospitality district in old town Scottsdale that
is expected to cost $500+ million when completed. The 1.1 million-square-foot
mixed-use project will be built on a 10+ acre site located just east of
Scottsdale Road and south of Camelback Road. A company formed by TriYar Capital
in Phoenix (Steven Yari, Shawn Yari, Bob Agahi, principals), also the developer
of the W Scottsdale, assembled the property for the proposed project over the
past two years. The 224-room W Scottsdale, scheduled to open next spring, will
be the centerpiece of the upscale development.
Walter Cronkite School, Taylor Place dorms
Completion date: August.
Significance: The ASU downtown campus opened in 2006, but these two projects
will expand it. ASU's new journalism school building is expected to bring 1,000
additional undergraduates to the campus and the first Taylor Place tower can
house 750 students. The second tower, which opens in 2009, can house 550
students. By 2015, 15,000 students will take classes that are taught by downtown
Cost: Journalism building $71 million; dorms $150 million.
Completion date: December.
Phoenix Convention Center expansion
Significance: The North Building - w hich is three times the size of the West
Building that opened in 2006 - will welcome its first visitors in January 2009.
The project will help elevate Phoenix's status among rival convention
destinations, the city says. The expansion gives the convention center 900,000
square feet of meeting and exhibition space and is expected to bring $500
million in annually direct spending by convention visitors.
Cost: $600 million. (West Building, North Building and South Building upgrades)
Completion date: June.
Significance: This June, Scottsdale developer Grace Communities expects to
finish the first dozen floors of its 34-story high-rise - the tallest
residential building in the state. By August, the rest of the building interior
will be completed. The 196-unit condo tower will bring more full-time residents
to downtown, a key component of long-term plans to bring vitality and foot
traffic to the neighborhood.
Cost: $160 million.
Completion date: October.
Sheraton Phoenix Downtown Hotel
Significance: The 31-story Sheraton project will be the largest hotel in the
state and will have 1,000 rooms. The hotel will help fill the need for more
rooms in downtown Phoenix and will help satisfy increased hotel demand that's
expected when the expanded convention center welcomes its first visitors in
Cost: $350 million.
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