Mike Medici calls it “Phoenix’s coming of age.” That’s how the president of the Phoenix branch of SmithGroup, one of the nation’s largest architectural firms, describes the bold, new urban core he sees depicted on renderings. An ultramodern light-rail transit system laces through the city’s heart, abuzz with bustling restaurants and cafes, populated by hip young urbanites and empty nesters.

A cluster of 30- to 40-story high-rises – brimming with offices, street-level retail boutiques and condos with windows aglow at night – pierce the skyline. Reflecting Phoenix’s role as an oasis in the desert, this new downtown is punctuated by trees and ample shelter from the blistering sun.

This vision for downtown may sound nearly as futuristic as a Buck Roger’s sci-fi fantasy, but residents are already beginning to see this dramatic transformation.

“2008 will be a very, very interesting year for downtown,” says Chris Anderson, project manager for Central Park East, one of downtown’s groundbreaking new mixed used developments going up on the northeast corner of Central Avenue and Van Buren Street.

“We believe downtown is the next emerging market for residential and retail. Studies show a larger number of people want an urban lifestyle. We also think downtown has a strong employment base, and people want to live near where they work. As the city expands, people are getting tired of the commute.”

Excerpts from Lori K. Baker’s article “Phoenix’s Next Rising” found in the March-April 2006, AZ/RE, Arizona Commercial Real Estate, www.abusinessmagazine.com