Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Work Underway on Phoenix Gaming-Themed Hotel
Intersection Development is tearing down a Phoenix building to make way for the Atari Hotel, a 91-room hotel with a 60,000-square-foot immersive entertainment and video game experience. It will also include a 2,000-person e-sports and concert venue and a sportsbook.
The Phoenix Business Journal reports developers have begun the process of tearing down a former radio station building to make way for the hotel in a busy section of downtown Phoenix at 840 N. Central Avenue. Intersection recently completed another gaming-themed project – a 36-unit apartment complex inspired by Mario Kart called Rainbow Road, which is located at 1030 N. 1st Street.
Intersection Development is still working to attract investors to fund the project, with an expected development cost of $124 million. Under the developer’s licensing agreement with Atari, it must break ground and begin construction on or before June 30 of this year, though there is an option to push that back to Dec. 31 if Intersection pays a $50,000 extension fee.
