The building is nearly a 100 years old, but that isn’t stopping Phoenix developers CivicGroup and Sunflower Development from converting the onetime office tower into hotel rooms. Built in 1928, the Security Building will undergo a $135 million renovation that will include 255 hotel rooms.
In addition to the hotel rooms, the redevelopment will include 15,000 square feet of meeting space – including the 5,500-square-foot 1928 ballroom – and other amenities. The investor duo hopes to open five food-and-beverage outlets in the hotel, including multiple bars, a three-meal restaurant, and an upscale eatery.
The building is currently owned by Maricopa County and will continue to lease the building to the development team as a hotel for at least 20 years.
The Phoenix Business Journal reports the project requires a significant amount of preservation work – including the removal of drywall, carpet, non-historic walls and cubicles. The developers hope to start in the first quarter of 2027 and open in Q4 2028.
The post Vintage Phoenix Midrise Office Building Slated for Hotel Rooms appeared first on Connect CRE.
​Â
