Phoenix, Ariz. – While adaptive reuse has been a popular trend for older properties in Phoenix, The Power Apartments, a Federal Revival Style building located on North 3^rd Avenue, is going back to its historic roots in what is being called an “adaptive restoration” showcase.

Originally developed in 1914 as an apartment building, this redeveloped office building will have its grand opening in October, coming back to the market as 12 apartment units. On the eve of its 105^th anniversary, this rehabilitation captures the essence of a modern transformational property at 3^rd Avenue and Roosevelt in the heart of downtown Phoenix’s revival.

Bryan O’Keefe, principal of SBD Ventures LLC, notes, “This project was very important to the community, and we took great care in working with the City of Phoenix Historic Preservation Office to maintain the building’s classical and historical significance, while also working collaboratively with our development partners to produce a uniquely designed offering to the vibrant Phoenix housing market”.

SBD Ventures LLC worked in collaboration with architecture firm Tomecak Design and general contractor Creative Edge Stoneworks LLC to design and build four two-bedroom and eight one-bedroom units. The original white oak floors were restored, and the original brick fireplaces preserved in the redesign. The living areas are open for comfort and entertainment.

While there has been resistance in some quarters to “reimagining” of historic properties in the Roosevelt Row district, SBD Ventures LLC’s efforts represent a careful curation and merging the modern and historic at a core level.

Residents will enjoy open kitchen spaces with grey quartz counter tops, white shaker cabinets and stainless-steel appliances. The bathrooms are classically designed with penny floor tiles and subway tile shower surrounds. Second floor units include balconies overlooking Roosevelt Street and 3^rd Avenue and have a spectacular view of the downtown Phoenix skyline centrally located in the Roosevelt Row Arts District.

“All the units are new and modern but fundamentally resemble the original,” O’Keefe said in an interview. “For example, we’ve rebuilt the second-floor balconies and put modern windows in place, but we’ve modernized and pulled it out to the current standards. The external façade is exactly what you’d expect from 1914.”

This opportunity was driven by increasing demand for housing in the downtown core. “Downtown Phoenix, particularly Roosevelt Row, is one of the most sought-after areas in the country for unique and interesting multifamily dwellings,” said Alon Shnitzer, senior managing partner at ABI Multifamily.

ABI Partner Eddie Chang added, “Phoenix is not known as a market with a generally rich sense of history in its offerings, and the fact that Power Apartments was a high-demand apartment community, adapted to a trendy office environment and that has now been lovingly restored to state-of-the-art residential that maintains its sense of history and identity will ensure an immediate and vocal demand.”

The property will be preleased and managed by Twenty-Four Seven Property Management (480-718-6888).

New report reveals company’s growing statewide benefit

PHOENIX, Arizona  — A top Raytheon executive announced Wednesday the company would add another 1,000 employees in Tucson

“Raytheon’s continued growth in Arizona is having a substantial, positive effect around the state,” said Wes Kremer, Raytheon Missile Systems president. “With nearly 13,000 employees now working in Arizona and a strong, statewide network of over 500 suppliers, the company provides a significant boost to Arizona’s economy.”

In 2018, Raytheon executives along with federal, state and local leaders formally dedicated six new buildings at the company’s Tucson plant site. The company has since completed infrastructure expansion and hired more than 2,000 new workers. Raytheon plans additional hiring over the next three years, as well as investments and improvements in manufacturing, engineering technology and facilities infrastructure in order to meet growing customer demand.

“Raytheon is one of our state’s most valuable assets,” said Arizona Gov. Doug Ducey. “This high-tech powerhouse is a major jobs creator, and its products help to defend freedom around the globe. Arizona will continue to foster a pro-growth tax and regulatory environment that allows Raytheon to thrive in our state for years to come.”

Raytheon employees volunteer thousands of hours annually in Arizona classrooms, tutoring students in math and science. The company sponsors numerous outreach efforts to help spark student interest in science, technology, engineering and math. Raytheon also supports military veterans and their families through various programs.

As Raytheon continues to grow in Arizona, so will the company’s need for top talent. Raytheon is investing in statewide programs designed to help cultivate STEM skills that lead to rewarding careers for Arizona’s future innovators.

PHOENIX, ARIZ. – Gloria Feldt, an acclaimed expert on women, power and leadership with decades of front-line leadership experience and a bestselling author, is the 2019 AZCREW Woman Icon Speaker.

AZCREW, the leading organization for senior-level executive women in the Metro Phoenix real estate field, presents its annual Woman Icon Speaker series Oct. 15 at Phoenix Country Club, 2901 N. 7^th St., in Phoenix.

Feldt is co-founder and president of Take The Lead, whose mission reflects her life’s passion: to prepare, develop, inspire and propel women to take their fair and equal share of leadership positions across all sectors by 2025 by providing breakthrough training, mentoring and coaching role modeling and thought leadership.

AZCREW’s October lunch begins with networking at 11:30 a.m. The program starts at 11:45 a.m. Member registration is $45; non-member pre-registration is $65. Registration closes Oct. 10. Lunch is included. Register here.