PHOENIX, ARIZ. — Chicago-based Clayco has broken ground on PALMtower, a 28-story residential tower development in downtown Phoenix. The project is slated for completion by early 2024. Development costs were not disclosed.
PALMtower will feature 352 apartment units with unit features including quartz countertops, luxury vinyl tile, custom finish light fixtures and views of downtown Phoenix. The property will also offer parking onsite, including six floors of above-ground parking with 370 spaces and 120 spots for bike parking.
The property will also include a 17,500-square-foot seventh-floor amenity level with an indoor-outdoor common space. The outdoor amenities will include a pool, spa, outdoor kitchen, native gardens and 360-degree city views. Indoor amenities will feature a resident’s club, media room, lounge areas and fitness and yoga centers.
The project is landlocked on all sides in one of downtown Phoenix’s most constrained sites, according to Clayco. The 481,980-square-foot building’s exterior cladding will include glass and metal paneling.
Located at 440 East Van Buren St., PALMtower is located less than a half mile from the Arizona State University Downtown Phoenix campus and across the street from the University of Arizona College of Medicine campus. The property will be located near retailers and restaurants, including Omoide Sushi and Noodle, Cold Stone Creamery, Hooters, Fillmore Coffee Co., Cobra Arcade Bar and POMO Pizzeria.
Clayco is working on the project in collaboration with developer North American Development Group and design firms Will Bruder Architects and Lamar Johnson Collaborative (LJC). Other project partners include Ventana on the curtain wall systems; Dibble as the civil engineering firm; BASE as the structural engineering firm; and Peterson Associates as the MEPFP (mechanical, electrical, plumbing and fire protection) consulting engineers.
In 2021, Clayco relocated its residential business unit headquarters to Phoenix and, in turn, the firm has worked on several newly built multifamily high-rises, including Skye on 6th and X Phoenix.
— Julia Sanders