New vision for Camelback Colonnade: Developers plan new project at historic retail hub

The owners of a prominent central Phoenix shopping center have an ambition vision to add apartments to the property.

Federal Realty Investment Trust and RED Development are working through plans to build a 255-unit, six-story apartment complex within the Camelback Colonnade shopping center, according to documents filed with the city of Phoenix.

They’re targeting a 2.5-acre portion on the southwest side of the shopping center, which is located at Highland Avenue and State Route 51, and currently includes parking space and a Phoenix Public Library branch location.

The developers are aiming to get the western half of the Colonnade – about 23 acres – rezoned to allow for multifamily use. They would take on the task of relocating the library elsewhere, according to city documents.

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

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