A 24-story mixed-use development that will bring both apartments and retail to Central Avenue and McDowell Road has begun construction.
The development, called the Whitney, is led by Scottsdale-based Aspirant Development, the development arm of Empire Group. The project will include 328 luxury apartment units and 22,000 square feet of ground-floor commercial space, designed for restaurants or stores. About 4,500 square feet of retail space will be at the base of the tower, with the rest to the west of the tower along McDowell Road, Geoffrey Jacobs, managing partner of Aspirant Development, said in an April interview.
The developer closed on a $131.2 million financing package with loans from Axos Bank, Lionheart Strategic Management and Schroders Capital.
“The Whitney represents our continued investment in thoughtful, high-density development that enhances Phoenix’s urban core while remaining deeply connected to its surrounding neighborhoods,” Jacobs said in a statement. “This project reflects Aspirant’s vision of delivering elevated residential experiences in locations that support long-term livability, connectivity and community.”
Scottsdale-based Diversified Partners will serve as the leasing brokers for the retail and restaurant portion of the project.
“The Whitney is designed to meet the growing demand for high-quality retail and restaurant space in the heart of Central Phoenix,” Marti Weinstein, partner of Diversified Partners, said in a statement. “We’re creating a dynamic, mixed-use destination that puts tenants in front of a built-in customer base while offering the visibility, accessibility and energy today’s operators need to succeed.”
Construction on the project will take about two years.
Developer plans Arizona’s tallest tower
Aspirant Development is also the developer of Arro, a downtown Phoenix project that aims to create the tallest tower in Arizona.
That project will include 1.8 million-square-foot project planned for two acres at Second Avenue and Van Buren Street in downtown Phoenix. The development will be apartments, co-living spaces, a hotel, restaurants and office spaces. It will have 380 traditional apartment units and 275 co-living units, which will be rented by the bedroom instead of by the unit.
Aspirant will partner with Valley-based restaurant group Pretty Decent Concepts to create a multilevel restaurant project that could include a restaurant and nightlife venue.
The development is expected to receive permits near the end of 2026, with about a three-year construction period to follow.
Reporting by Corina Vanek, Arizona Republic
