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Phoenix & Southwest  + Phoenix  + Apartments  | 
LG million sq.ft. Phoenix

Another Million Square Foot Project May be Coming to Downtown Phoenix

A preliminary development plan was filed with the City of Phoenix that would include a 29-story residential tower with over 700 units and up to 29,000 square feet of commercial space on the ground floor.

LG Group out of Chicago recently bought the property for a disclosed price of $22 million. The property, two acres, is bordered by Pierce Street, Central Avenue and First Street, across from the Westward Ho Building. It’s currently a parking lot.

Just last month Medistar announced it was going ahead with Central Station, an ambitious project featuring a 22 and 33-story tower including residential, office, hotel and restaurants. It also is expected to include over one million square feet. Medistar, the lead developer, will be leasing the property from the city. CBRE Investment Management is partnering with Medistar.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Development
  • ◦Policy/Gov't
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