Phoenix’s Central Park Puts New Focus on Residential
The much-discussed “Central Park” project was slated to have 850,000 square feet of office. But now, the developers, the Pivotal Group, are looking to include more residential and pare back office space.
The Phoenix Business Journal reports Pivotal is still pursuing an urban mixed-use development, but is changing the mix for the project, slated for Central and Glenrosa in midtown Phoenix. Pivotal has said publicly that the city has a housing shortage and it would be good business to change the ratio of homes versus office space. The developer says Central Park would offer 1,450 residences designed in a “walkable, vibrant, mixed-use setting.” The developer hopes to find out in August if the town approves its changes.
Petree Properties is proposing 1,500 apartment units and 20,000 square feet of retail space across the street.
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