Much touted since its planned arrival was announced many months ago, the Fry’s store that will finally bring a grocery to serve all the residential housing in Downtown Phoenix is within sight on the calendar. On January 22, RED Development, Fry’s Food Stores and StreetLights Residential held a “topping off” ceremony to commemorate the completion of vertical construction on the nine-story office and retail building at Block 23 in Downtown Phoenix that will house the grocery store. The adjoining 17-story apartment tower is expected to soon follow; as of press time for this March issue, this residential component of the project is expected to top off construction by the end of February. The full Block 23 development is on track to open by the end of this year.
The Fry’s Food Store will be 67,000 square feet of the most technologically advanced grocery store in Arizona. It is being developed as a flagship community asset that will integrate the best practices of the nation’s largest grocer and the state’s best-in-class operator, Fry’s sparing no expense in delivering the highest-quality grocery product.
Located at 100 E. Jefferson Street between CityScape and the Collier Center, Block 23 is comprised of a 230,000-square-foot office building with ground-floor restaurants and retail, approximately 330 apartments by StreetLights Residential — which specializes in new urbanist apartment homes and mixed-use developments — and above- and below-grade parking. Its master developer, wholly integrated commercial real estate company RED Development, late last year announced the project’s first office tenant, Ernst & Young U.S. LLP, which plans to open a 20,000-square-foot office late this year. Also confirmed is a Sam Fox restaurant, Blanco Tacos & Tequila.
Block 23’s projected economic impact is significant, with the potential to generate $76 million over 50 years in net additional sales taxes to the City of Phoenix, 1,294 permanent jobs and an estimated $234 million annual economic output.
[Did You Know: The Block 23 development in Downtown Phoenix has the potential to generate $76 million over 50 years in net additional sales taxes to the City of Phoenix.]