With too many new developments to count going on, the downtown environment is changing rapidly. Here are three new projects that reflect the futuristic ideals behind this change:
Found:RE
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Expected to open this fall, the Found:RE’s 105 hotel rooms will offer amenities inspired by contemporary art, culture and fashion. The former Lexington Hotel was purchased by Habitat Metro last October and is being transformed into a modern hotel centered around creativity. Opening soon, it will possibly be the most unique hotel Downtown has seen since the early 1900s, reports the Downtown Phoenix Journal.
Union @ Roosevelt
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Poised on the light rail line, Union @ Roosevelt received a redevelopment loan from the Sustainable Communities Collaborative (SCC), whose core mission is to implement equitable transit-oriented development within the Valley’s 20-mile light rail corridor, reports the Downtown Phoenix Journal. The project includes 80 apartments, a parking garage and retail. It is slated for completion in July.
Derby Roosevelt Row
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Derby Roosevelt Row is a 19-story micro-unit complex with mostly studio apartments from 350 SF to 438 SF and about $1,300/month. Ten of the 211 units will be designated as affordable workforce housing, capped at $840/month. Projected to cost $36M, Derby Roosevelt Row will be hoping to attract graduate students and downtown workers.
The Phoenix City Council agreed in March to negotiate an agreement estimated to save developers Amstar and Transwestern Development some $8M over 25 years, reports KJZZ. It is slated to be one of the tallest buildings in the area once it is built on roughly a third of an acre near Second and McKinley streets downtown.
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