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• Property Description: The Historic 13-story former Hotel Monroe and former Valley National Bank has been sitting vacant for long enough. CSM Lodging, a division of CSM Corporation, has plans to re-open the hotel as a 170-room Hilton Garden Inn. The company is putting $40 million into renovating the building with the goals of utilizing the same historic aesthetic, yet still supplying the hotel guests with modern accommodations. CSM Lodging is known for their impressive portfolio that contains a list of “historic preservations and conversions of classic structures into first rate contemporary hotels”. (Source: www.csmcorp.net) • Property Highlights: The project includes renovation of the historic Art Deco exterior and the installation of new mechanical, electrical and plumbing systems; as well as full renovation of the magnificent, soaring former bank lobby inside, which will serve as the main reception and gathering place for hotel guests. This space will include a lobby bar and a grab & go coffee area for guests. The hotel will consist of 170 guestrooms on 12 floors, a rooftop terrace, meeting space, a business center, fitness center, and on-site parking. The project will also include approximately 6,000 square feet of retail space along Central Avenue. The hotel will be offering valet service.Upon opening, the project is expected to add an estimated 105 jobs to Downtown Phoenix. (Source: www.csmcorp.net) • Location Highlights: Located in the heart of downtown Phoenix, the historic hotel sits adjacent to the Phoenix Light Rail, which operates 18-20 hours per day, seven days a week. The ASU Downtown Phoenix campus, home to the College of Nursing and Health Innovation, School of Criminology and Criminal Justice and the Walter Cronkite School of Journalism and Mass Communication) is located about two blocks north from the hotel and serves over 17,000 students. • Additional Location Highlights: A number of new high rise projects are planned for Downtown Phoenix including a 14-story condo planned less than a mile north of Hotel Monroe and 476 units planned at Central Station (NWC Central Ave & Van Buren St).
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15 E Monroe St, Phoenix, AZ 85004