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Phoenix’s Arizona Center $25M renovations set to begin this month

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PHOENIX — The Arizona Center in downtown Phoenix will be undergoing a $25 million makeover that could begin as early as this month, according to Downtown Phoenix Inc.

Officials said the renovations will focus on modernizing the mixed-use complex, which is located at Third and Van Buren streets and stretches two city blocks, with upgraded features.

The new features will aim to make the center more welcoming and walkable, with a new valet parking entrance, glass walls, landscaping, shade structures, lighting, outdoor Wi-Fi access, furnishings and new signage.

Matt Root, managing partner with Parallel Capital Partners, said officials want the renovations to lead to a “happier, healthier and more sustainable lifestyle.”

“The goal is to create a more urban and modern feel,” he said in an interview with Downtown Phoenix Inc. “The downtown destination will be a place that’s reminiscent of authentic Arizona, but revitalized.”

Officials also want to build multi-family units, student housing, office space, specialty retail or a boutique hotel on nearby sites.

Plans for the upgrades were originally announced in October 2015 by Phoenix Business Journal. Parallel Capital Partners, which also owns the One North Central and City Square complexes in Phoenix, purchased the complex for $126 million in 2015.

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