News Summary
The construction of Astra, Arizona’s tallest tower, has been delayed to late 2026. With a budget of $650 million, the project will feature a 44-floor residential building exceeding Chase Tower’s height. The development aims to enhance downtown Phoenix’s urban landscape with approximately 700 multi-family units, retail spaces, and a luxury hotel. As downtown Phoenix experiences significant growth, this project contributes to the revitalization of the area, complementing ongoing improvements like the Central Station development.
Phoenix
The construction of Arizona’s tallest tower, Astra, has been delayed to late 2026. The ambitious project, spearheaded by Aspirant Development, comes with a substantial budget of $650 million and was originally set to break ground in the second quarter of 2025. However, the timeline has now shifted to the latter half of 2026.
Located on a 2.18-acre site at Second Avenue between Van Buren and Fillmore streets in downtown Phoenix, the Astra project will feature a towering 44-floor residential building that reaches a height of 541 feet. This will officially make it the tallest structure in the state, surpassing the previous holder, Chase Tower, which stands at 483 feet.
In addition to the primary tower, there are plans for an adjacent 34-floor building that will rise 424 feet. Collectively, these structures are expected to host approximately 700 multi-family residential units, retail spaces, office areas, and potentially a luxury hotel on the ground floor. This project is a significant step towards enhancing the urban landscape of Phoenix’s downtown area.
Impact on Downtown Living
Downtown Phoenix is seeing a surge in residential growth, with the city surpassing its goal of 20,000 residents ahead of the 2030 target—now boasting over 24,000 residents. This surge is largely due to ongoing investments in residential and commercial developments like Astra. The project received approval from the Phoenix City Council in June 2023 and is expected to complement existing initiatives aimed at revitalizing the urban core.
In addition to the Astra, the obsolete Chase Tower has been vacant since 2021 after Chase Bank relocated its operations to Tempe. Plans for the Chase Tower include modernization efforts that will integrate hotel accommodations, office spaces, and residential units, with construction projected to commence in 2026.
Comparative Skyscraper Stats
While the Astra will mark a significant addition to the skyline, it is important to note that Metro Phoenix skyscrapers still rank lower in height compared to those in many major US cities. For example, New York City’s One World Trade Center stands at a towering 1,776 feet. However, the Astra represents a move towards greater verticality in Phoenix’s skyline.
Current Developments in the Area
Another notable venture contributing to the transformation of downtown Phoenix is the Central Station development. This project is anticipated to be completed in 2025 and is expected to enrich the area’s infrastructure and amenities further.
The land for the Astra project was purchased by Aspirant Development, part of the Scottsdale-based Empire Group, from Donnelley Financial Solutions in March 2024 for $13 million, following the demolition of the previous office building on the site. As the construction schedules are finalized and plans move forward, the Astra promises to be a game-changer for the Phoenix skyline and urban living experience.
Deeper Dive: News & Info About This Topic
HERE Resources
Downtown Phoenix Experiences Rapid Growth and Development
Additional Resources
- 12 News: Phoenix Looks to Revitalize Downtown
- Wikipedia: Phoenix, Arizona
- AZ Central: Phoenix’s 10 Tallest Buildings
- Google Search: Phoenix urban renewal
- KTAR: Arizona’s Tallest Apartment Tower
- Encyclopedia Britannica: Downtown
- AZ Central: 24-Story Apartment Tower Under Construction
- Google News: Phoenix real estate
Author: STAFF HERE PHOENIX WRITER
PHOENIX STAFF WRITER The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
