Hines Breaks Ground on Luxury Apartments in Downtown Phoenix
Adeline is the company’s first development project in the Downtown Phoenix market.
“It was fantastic,” Chris Anderson, senior managing director and Arizona leader for Hines, tells GlobeSt.com about the ground breaking ceremony. “This site has been vacant for 20 years, and to finally see the master plan finishing up and reaching its full potential is really exciting for everyone.”
The land site was a stalled development project left over from the 1990s that had already begun early development. As a result, Hines had to work within an existing framework and bring the developed infrastructure up to current standards. “We had to work within the original vision,” says Anderson. “The prior ownership had already put in infrastructure into the original project, so we had to retrofit on the infrastructure and adapt to what they did. That was our biggest challenge: adapting to a property a property that was designed in the 1990s and bringing it up to date with our modern practices. That was our biggest challenge, but we figured it out.”
The development, located 222. E. Jefferson St., is an ultra luxury building near two light rail stops and near a Talking Stick Resort Arena and the new downtown Fry’s grocery store. The property will feature an outdoor junior Olympic-size swimming pool, a 2,800-square-foot fitness center, indoor great room with private and group seating, private conference areas and a community kitchen. With population growth and changing demographics, there is a lot of demand for this quality apartment living. “Demographics are changing and baby boomers are looking at new living options,” says Anderson. “Millennials and even Gen-Z now are living differently. People want to be part of an urban oasis. They want to get out of their cars and spend more time doing fun things, like cultural and sporting events. This site offers all of those things within walking distance. It is also a short walk to the light rail to get to other parts of the valley. The demand is strong for a property like this.”
The project is scheduled for completion late next year. “We will be opening in late 2021,” says Anderson. “So, we have about a 24-month construction project.”