Arizona’s tallest building is coming soon to downtown Phoenix.

Scottsdale-based Aspirant Development has been given the final approval to begin construction on Arizona’s tallest tower after securing a tax agreement with the City of Phoenix.

The $575 million project called Astra will include one tower with 45 floors rising to a height of 541 feet. This new building will surpass the former Chase Tower located at Central Avenue at 483 feet. The second adjacent Astra tower will be 36 floors and 424 feet high.

The project is set to be placed on a 2-acre site on Second Avenue between Van Buren and Fillmore streets in downtown Phoenix.

This project has been a long time in the making. Geoffrey Jacobs, a partner with Aspirant Development and a principal with The Empire Group has been working to bring this to fruition since August of 2019.