Phoenix Business Journal's Mike Sunnucks reports that Transwestern Commercial Real Estate plans to develop a tower containing 210 apartments, each averaging approximately 400 square feet in downtown Phoenix.
The tower, located near McKinley and Second streets, will stand between 19 and 21 stories high. Its units are sized at about half the average size of most one-bedroom apartments in downtown Phoenix, reflecting the national trend of downsized living in less square-footage.
One official familiar with the project said the units could range between 350 and 520 square feet with a parking garage and ground-level retail. The project would be on vacant land near the Angel’s Trumpet Ale House restaurant, Roosevelt Row and Arizona State University’s downtown campus.