Adding value and positive growth to an underutilized city center in the heart of Phoenix.
Block 23 is the highly anticipated mixed-use project in Downtown Phoenix. The development will be home to the area’s first grocery store by Fry’s Food Stores, which has long been sought after by residents and city leaders.
Slated for completion in 2019, Block 23 will also include approximately 330 apartments by StreetLights Residential, 200,000 square feet of creative office space, restaurant and retail uses along with above- and below-grade parking.
Hoffman Strategy Group was contracted to conduct the analysis that was presented by RED Development and StreetLights Residential to the Phoenix City Council to approve this project; and convince Fry’s that there is a market for a downtown grocery store.
- Ideal use for project should include:
- At least 50,000 square feet of grocery store space.
- At least 150,000 square feet of office space
- Approximately 1,000 above and below ground parking spaces.
Block 23 will:
- accelerate absorption of new housing units under construction
- encourage new investment in other mixed use development
- draw a higher income level to the urban core
- Contribute to $24.5 million in new direct sales tax revenue
- April 2016 - Fry's Food Stores commits to occupy 50,000 SF
- City Council approved project with our analysis in April 2017.
- Block 23 project is scheduled to complete in 2019.