Article originally posted by: Phoenix Business Journal on January 13th 2022
Construction began on the PALMtower, a 28-story apartment tower being developed on the former lawn of the Arizona Center in downtown Phoenix.
Chicago-based design-build firm Clayco Inc. is the general contractor for the project, which is owned by North American Development Group and designed by Will Bruder Architects and Lamar Johnson Collaborative. Other firms involved with the project include Dibble, Ventana, BASE, and Peterson Associates.
“We are honored to help transform Phoenix’s downtown residential market with a Will Bruder-designed high-rise,” Clayco executive Eric Jaegers said in a statement. “Together with North American Development Group, we will successfully deliver this highly anticipated project to the Phoenix community as quickly, safely and efficiently as possible.”
Clayco relocated its residential business unit headquarters to Phoenix in 2021, and is involved in other downtown apartment projects, including Skye on 6th and X Phoenix.
The PALMtower project has been in the works for years and was approved by Phoenix City Council in 2018. At the time, the project was expected to cost $107 million to construct.
The building, located at 440 E. Van Buren Street, will include 352 apartment units, a 17,500-square-foot amenity level on the seventh floor with an outdoor pool, and six floors of above-ground parking.
The apartment building is part of a major renovation for the Arizona Center, which has been underway for more than five years. In addition to an updated look for the restaurant and retail space in the center, a joint venture between LaPour Partners, NewCrestImage and Peachtree Hotel Group developed the AC Hotel Phoenix Downtown. The 199-room hotel opened in February 2021 and was purchased by Arbor Lodging Partners in August for $65 million.
Find the complete article here: https://www.bizjournals.com/phoenix/news/2022/01/13/apartment-tower-begins-construction-az-center.html