Phoenix, meet your newest mega-project!
Pivotal Group, a private equity firm based in Phoenix, is seeking to develop a 2.3 million square foot project on a vacant 15-acre lot on the Northeast corner of Central & Indian School (4141 N 3rd Street). If early documents are any indicator, the project is very ambitious. The proposal, filed with the City of Phoenix in late October, outlines a “high intensity, walkable urban mixed-use development” consisting of 8 large towers with heights up to 390 feet, all perched atop a massive 60 foot tall ‘podium’ that would create an elevated park, conceal parking, provide space for retail, and create a pedestrian ‘canyon’ between the buildings leading from the intersection of Central & Indian School towards Steele Indian School Park.
The plan includes the following:
- Two Office towers on the main corner will reach 250 feet and 280 feet tall, and provide 760,000 total square feet of office space.
- A 200-room hotel will sit along the South edge of the property and will rise to 200 feet.
- Three additional towers, each rising from a single larger structure connecting them all, will sit on the East edge alongside Indian School Park. These towers will provide a total of 250 residential units and reach 200 feet.
- Finally, two freestanding residential towers located at the North end of the property will provide another 400 residential units for a combined total of 650 units. These towers will cap the property at 390 feet tall.
- Between all the structures, retail/restaurant space lands at 170,000 square feet. Parking lands at 4308 spaces.
The plan is still very much subject to change and the project must still clear a design review, a rezoning, and obtain variances for the height and frontage style. If constructed as currently planned, The Central Park would be one of Phoenix’s largest developments and also one of its tallest. Currently, 44 Monroe stands as Phoenix’s tallest residential tower at 380 ft. No timeline is yet stated for the project.
