PHOENIX — A Chicago developer is quietly preparing to build a 24-story residential tower in downtown Phoenix.
Convexity Properties has submitted a preliminary application to the city to build 318 apartment units, a 364-stall parking garage, and ground-floor retail at the northwest corner of Second and Portland streets, near Margaret T. Hance Park. Site plans obtained from the city of Phoenix are dated as recently as May 2023.
Developers declined comment, saying it's too early to discuss the project at this point.
On Feb. 2, Chicago-based Second and Portland RR LLC, an entity tracing to Convexity Properties and DRW Trading Corp., paid $8.82 million in cash for the 0.64-acre vacant parcel at 114 E. Portland St., according to Tempe-based Vizzda LLC real estate database.
