Joint Venture Breaks Ground on 1 MSF Central Station Mixed-Use Development in Downtown Phoenix
PHOENIX — A joint venture between Medistar Corp., GMH Communities and CBRE Investment Management has broken ground on Central Station, a 1 million-square-foot mixed-use development in downtown Phoenix.
Situated adjacent to Civic Space Park and Arizona State University’s Downtown Phoenix Campus, Central Station will feature two residential towers, 30,000 square feet of retail space, 70,000 square feet of creative office space and two levels of below-ground parking with 430 spaces.
One tower, a 22-story student housing building, will be fully furnished and comprise 655 beds ranging from micro studios to four-bedroom units catering to undergraduate and graduate students, as well as young professionals. The apartments will feature smart technology, amenities and service designed to meet the needs of urban residents.
The second building, a 33-story residential tower, will include 362 units with smart-tech amenities. All residents will have access to an outdoor amenity deck that includes barbecue grills, fire pits and a resort-style pool.
Central Station is slated to open in late 2024. The project is a public-private partnership with the City of Phoenix retaining ownership of the land and the development partners entering into a long-term lease for the project.
Gould Evans designed the project and Layton Construction will serve as general contractor.