Today, Medistar Corporation, GMH Communitiesand CBRE Investment Management were joined by Phoenix Mayor Kate Gallego, Vice Mayor Laura Pastor, Councilwoman Yassamin Ansari and an audience of business and community representatives, to celebrate the groundbreaking ceremony for Central Station, a vibrant one million square foot mixed-use development that will be adjacent to Civic Space Park and Arizona State University’s Downtown Phoenix Campus.
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Designed to seamlessly merge with the existing transit station to create a bustling urban hub, Central Station will establish two residential towers, 30,000 square feet of retail space focused on food-centric concepts; 70,000 square feet of state-of-the-art flexible creative office space; and two levels of underground parking with 430 spaces.
“Downtown Phoenix is a booming hotspot, and Central Station is setting a new standard for transit-oriented development, enhancing the vibrancy of our city,” said Mayor Gallego. “Care and thoughtful design set the tone for the city’s future. It’s projects like this that are among the reasons more people choose Phoenix as their new home than any other US city.
A tower, 22-storey student accommodation building will be fully furnished and will include 655 beds. Fostering a collaborative living environment, the development will be equipped with smart technologies, amenities and services designed to meet the unique needs of urban residents. This component of the Central Station development will also include a diverse range of residential options ranging from micro-studios to four-bedroom units, aimed at undergraduate and graduate students, as well as young professionals.
The second, a 33-story residential tower, has 362 units and is fully equipped with smart technologies. All residents will have access to an outdoor patio featuring barbecue grills, fire pits and a resort-style pool.
“At GMH, we are actively seeking opportunities to expand our footprint and develop Class A smart apartment communities across the country,” said Steve Behrle, Chief Development Officer of GMH. “With Central Station, our plan is to transform downtown Phoenix, providing local workforce students with the housing needed to support their unique lifestyles: to live, work, play, learn and learn. flourish.”
“Downtown Phoenix is a totally different place today than it was five or six years ago. It’s a vibrant urban center,” the vice mayor pastor of Phoenix said. “Every week new restaurants open. New tenants fill apartments downtown four times faster than anywhere else in the valley. Central Station is a community that brings even more vibrancy to downtown with diverse choices of housing and a variety of uses to meet the needs of those who live and work in downtown Phoenix.
“With Downtown Phoenix on the rise, Central Station is the centerpiece we need and deserve,” Councilwoman Ansari said. “Mixed-use, pedestrian-oriented, aesthetically pleasing projects with a range of units including affordable workforce housing are exactly what a city of our stature should build and encourage. I look forward to seeing this project completed and bringing even more vibrancy to the center of our city.
Central Station, slated to open in 2024, will reinvent the city center’s primary bus and light rail transit hub, serving two million passengers a year. It will also connect to the city’s Civic Space Park in a unified public space for the bustling heart of Phoenix. Ready to capitalize on the development’s strategic location, Central Station benefits from robust transit ridership and proximity to the urban core of the fifth-largest city in the United States.
Central Station is a public-private partnership with the City of Phoenix retaining ownership of the land and development partners entering into a long-term lease for the project. The project was designed by Gould Evans, and Layton Construction will serve as the general contractor.
“Central Station is ideally positioned to benefit from the expanding knowledge hub formed by the Phoenix Bioscience Core and ASU’s downtown campus,” said Ben Green, managing director, Residential Transactions, CBRE Investment Management. “It fits perfectly with the ‘Eds and Meds’ investment theme of our fund as a prime rental option meeting the substantial and growing demand generated by higher education and employment in the sciences. of life. »
“Central Station will be a dynamic and pedestrian-friendly addition to downtown Phoenix with its densely landscaped walkways,” said Monzer Hourani, CEO of Medistar. “Its connection to Civic Space Park will provide another amenity bringing people together to experience events, restaurants, music and green spaces.”