New Details Emerge on Redevelopment of Former Phoenix Financial Center

New York-based developer Left Lane plans to transform the iconic Phoenix Financial Center, also known as the Punchcard Building, into Recess Phoenix, a mixed-use urban resort. The redevelopment will feature 209 hotel rooms, 143 multifamily units, and amenities such as a pool, spa, fitness center, and a 7,400-square-foot wellness hub. The 7-acre site will also include 33,000 square feet of event space, a beach club, restaurants, bars, and co-working areas. Left Lane’s adaptive reuse project, part of its Recess Hotel & Club brand, is expected to be completed by 2027. The development aims to revitalize midtown Phoenix, building on the area’s recent real estate momentum. Left Lane is investing $1.5 billion in similar projects across multiple cities over the next five years.

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