Downtown Phoenix is a bustling area of business and activity. There are always major transactions and projects throughout the businesses and properties of the city. While a majority of this brings significant growth, some areas are lost to unspent potential. After former downtown restaurant Matador closed, the vacant space it left behind sat unused for five years. Thankfully however, no longer.
This is because of the soon to come “PHX commons” described as a community gathering place by Rob Ashton.
The space will be dedicated to creating just as the name says, a common area for the community. Its plan includes food, drink, events and shopping to connect the local community and put this potential great downtown Phoenix space to use.
After unanimous support the city has offered $529,600 in credit if PHX commons spends approximately $2.5 million in improvements. The group would also have to pay more than $700,000 in rent over a ten year span.
With this new addition to the area, it could start a chain reaction causing activity and business to flourish. The current location is one of the mostly forgotten areas of downtown Phoenix, but is a great potential location for growth being in one of the largest cities in the United States today.
With great airports, great universities, thriving business, and very sensible business laws Arizona as a whole and Phoenix especially continues to house great competition in many different areas while still offering some of the most room for growth in the country. This is especially noticeable in its open office space that the city of Phoenix expect to continue to fill.
PHX commons could inspire this growth to reach around its fairly isolated new location, and it will be exciting to watch it happen.