A new multi-family housing development, Palm Court Tower, is slated to be the second largest residential building in downtown Phoenix by its completion in 2021.
North American Development Group purchased the one-acre plot in the Arizona Center for a 29-story project estimated to cost about $100 million. The development will offer workforce housing units as well as luxury apartments.
Chris Chamberlain, a partner of North American Development Group, said the downtown Phoenix community pushed for the workforce housing units. He said the topic “repeatedly came up as a need in downtown” during discussions with city staff, council members and activists in the neighborhood.
Workforce housing provides affordable housing for households with annual incomes between approximately $39,000 and $59,000, according to Phoenix’s Economic Development Department. Typically, these households earn a combined income that is inadequate considering the cost of living in areas near their place of work.
In total, 35 of the 350 apartment units in Palm Court Tower will be classified as workforce housing. The price of the units will range from $1,000 to $1,200 and the sizes will vary in respect to income level.
Chamberlain says the goal is to “make the building available to a diverse amount of people who don’t feel there is an opportunity to live in downtown Phoenix.”
The City of Phoenix helps to regulate the developing area and will govern the way workforce housing will be approached for the tower.
Will Bruder, lead architect on the project, said he hopes the units will be a manifestation of downtown’s image. Bruder said he aims to design Palm Court Tower specific to the site so that it is suitable for urban downtown Phoenix.
Chamberlain said he believes downtown Phoenix does not only have a need for workforce housing, but also residential housing. Residential housing opportunities exist outside the core but not on the inside, said Chamberlain.
As residences in downtown Phoenix increase, it provides a reason for more amenities, such as restaurants, coffee-shops and retail. Bruder said the tower will offer downtown something different with a simple and elegant building available to those of varying socioeconomic classes.
Chamberlain and Bruder manage the architecture, design and operations of the building. The details are not yet set in stone, but the two are working to executing the project with speed.
According to Bruder, Palm Court Tower is expected to be completed within the next two and a half years.
Contact the reporter at egraves5@asu.edu.
