$125M Atari Hotel in downtown Phoenix moves closer to reality as demolition begins

The long-discussed $125 million Atari Hotel⁠ in downtown Phoenix is getting closer to actually opening as construction is set to start on the project.

An executive with Intersection Development, the group behind the Atari Hotel, said demolition has started on the existing buildings where the hotel and entertainment project will go at 840 N. Central Ave. in downtown Phoenix.

For the past several years, Intersection has been buying up property along Central Avenue between Roosevelt and McKinley streets in downtown Phoenix – spending more than $22 million across multiple transactions. The company is prepared to invest more than $200 million redeveloping the area with new multifamily housing and restaurant space just south of where the Atari Hotel will go.

Intersection is “pushing start” on the Atari project, beginning the demolition process before its permit from the city of Phoenix expires, Jordan Taylor, a partner at Intersection Development, told the Business Journal.

“We’ll be taking down the building and starting some initial site work,” Taylor said. “We’re making great progress. We’re full steam ahead on everything, and obviously with these bigger projects it’s kind of step by step.”

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

Related

Virgin Galactic’s Apeiron spaceship departs Arizona factory for testingNew World screwworm was detected in Arizona. What does that mean for beef prices?Honeywell Aerospace plans $500 million Tempe factory, touts 600 new jobsSprouts to open 3 new Arizona locations by early NovemberCasa Grande approves 954-acre data center after county denies similar projectsConsumer sentiment slides in Phoenix as gas prices, mortgage rates climb