One of the most influential developments in downtown Phoenix hit another milestone on its way toward completion. RED Development welcomed more than 100 dignitaries and visitors to the 8th floor of Block 23 for a topping out celebration on Tuesday.
Phoenix interim mayor Thelda Williams was one of the dignitaries to give comments on the project that sits across Jefferson Street from Talking Stick Resort Arena and just east of CityScape.
The focal point of the mixed-use project is the 67,000 square foot, multi-story Fry’s Food Store, which will be a welcome addition to a downtown area that has more than 10,000 residents.
“We are celebrating the fact that Block 23 and our downtown was able to attract our first grocery store, which happens to be our best grocery store,” said Mike Ebert, managing partner for RED Development. “Fry’s got more and more excited about the store every time we talked about it the last five years.”
While the much-needed Fry’s Food Store gets the most attention, Block 23 will feature 330 residential units in a 17-story tower by StreetLights Residential, and 200,000 square feet of office space. One of the first tenants to sign on to Block 23 is EY (Ernst & Young). Also, there will be additional retail and restaurant space. RED Development recently announced that the first restaurant at Block 23 will be Blanco Tacos & Tequila, a Fox Restaurant Concepts establishment.
Jeff Moloznik, VP of development for RED Development lead the presentation. Other speakers to sing their praises of the development were Ebert, Monica Garnes, president of Fry’s Food Stores, Tom Bakewell, president of development for StreetLights Residential, Phoenix Councilman Michael Nowakowski, David Adams, president and CEO of Chicanos Por La Causa and Christine Mackay, Phoenix Community and Economic Development Director.
Block 23 is expected to be fully completed by the end of 2019, with Bakewell noting that StreetLights Residential expects the first tenants in the fall of 2019. The project joins an emerging downtown Phoenix market, that has seen steady growth. Ebert pointed out that in the past eight years in the downtown business improvement district, restaurant and hotel annual sales tax revenues have increased from $149 million to $315 million. He also noted that Block 23 is projected to draw 1,300 permanent jobs to the downtown area, as well as an estimated $234 million in annual economic impact.
“The relocation of RED’s corporate headquarters to downtown Phoenix was strategic,” said Moloznik. “We knew downtown was the future of Phoenix and we celebrate this milestone today because of the leadership of Mike Ebert and Scott Rehorn and all of the RED employees who are dedicated to deliver projects like this.”
Moloznik praised the work of the general contractor on the project, Whiting-Turner, and the architect, Omniplan.
