Gallium LLC and Elevate Companies are proposing a seven-story luxury apartment community called The Amara at 602 E. Grant St. in Phoenix.
The $100M apartment complex is designed by DXA Studio. It will be constructed on a 2.3-acre site across the street from the Arizona State University Grant Street Studios.
The Amara will feature roughly 15KSF of retail and amenities on the ground floor. Amenities include a padel court, gym, pool and wellness center.
The first two stories will also hold parking. Roughly 400 parking spaces are planned. Floors three-through-seven will have residential units. Developers said the project is targeted to attract younger professionals in downtown Phoenix.
The site is part of a federally designated Opportunity Zone, meaning investors are eligible to invest in the project, hold it for a decade and defer capital gains taxes.
Currently, the location serves as a parking lot. Developers are in escrow to purchase the land and will close on the transaction once permits are pulled.
Construction is expected to begin in the second half of 2026. (Source)
