If you’ve driven through downtown Phoenix lately, or for that matter, any part of the Greater Phoenix area that has seen major commercial growth, you’ve probably noticed a growing trend of mixed-use buildings being developed.
Some have the typical modern look and feel with lots of glass, sharp silhouettes, first floor shops and offices, and upstairs apartments. And while they may be nice to look at, they might leave you a little uninspired.
Matt Hargis, president of property development at Point B, was determined that this would not be the case for his latest development project. Point B, an integrated Management Consulting, Venture Investment and Real Estate firm has been working on renovations of the Hardware Store, a dual-building development built from the bones of downtown’s historic commercial assets. The Hardware Store stretches out for a quarter of a block along the north to south light rail tracks that run along 1st Avenue, north of Van Buren, and displays a look into the past while appreciating the present.
The restoration of the buildings utilizes the historic nature and character of the buildings while reenvisioning the space, especially inside, as a modern answer to mixed-use commercial properties with creative spaces and offices, and room for restaurants, bars, and corporate events.
“We saw this as a great opportunity based on how the Roosevelt Row area has been transforming over last 10 years or so,” noted Hargis.
Hargis and Point B wanted to keep the historic quality of the buildings alive while adding to the creativity and vibrancy of the area. In the brick building (829), which is historically registered, a non-profit arts program named Xico connects the community to the vibrant culture surrounding it. Sharing the first floor space with Xico will be a taco and tequila bar offering tastes and tipples for patrons who can utilize an adjoining outdoor patio during the balmy summer nights ahead.
“Part of the property is on the national historic register and another part is just historic in itself, but not on the register. These are character-rich buildings that were honestly a bit neglected. So, this was a great opportunity to get an asset in an area that has all kinds of value.”
The renovated property offers a different look and feel for the modern worker and maker looking to be inspired and connected to the bustling and evolving neighborhood. And even though Point B renovates and builds properties throughout the country, it was the emphasis on local culture that inspired the firm.
Currently, a number of tenants who operate their own ventures inside live nearby and walk or ride their bikes to the block of buildings, illustrating the change that Phoenix has seen in recent years to be a more connected, walkable, and livable area.
“We didn’t buy in this area to demolish and put up a high rise. We bought these buildings to restore them to their former glory and because of what they can contribute to this vibrant and evolving neighborhood.” says Hargis.
Point B
Matt Hargis
President, Point B Property Development Phoenix
phone: (602) 992-9000
email: mhargis@pointb.com
For more information on Venn, to discuss next construction project, or to be considered for an upcoming story call (602) 325-1450 or email stephanie.fogelson@venncompanies.com
Gallery
