Ellis Building - Downtown Phoenix
Downtown Phoenix Hotel Redevelopment Opportunity
Marketing description
The Ellis Building, located at 2nd Avenue and Monroe in the heart of Downtown Phoenix, presents a compelling opportunity for an upscale hotel conversion. Situated within a Qualified Opportunity Zone, the asset offers meaningful tax advantages while benefiting from irreplaceable proximity to the Phoenix Convention Center—where the city has identified a need for 800–1,200 additional hotel rooms to support future convention demand.
Immediate access to the Mortgage Matchup Center (Phoenix Suns), Chase Field (Arizona Diamondbacks), and ASU’s Downtown Campus drives year-round demand from events, sports, and academic travel. The building’s historic architecture is well suited for adaptive-reuse lifestyle brands such as Tribute Portfolio by Marriott, Tempo, Tapestry, Curio by Hilton or voco by IHG, positioning the property for a high-value hospitality use aligned with Downtown Phoenix’s accelerating growth.
Investment highlights
Faster time-to-market (avoid ground-up permitting and demolition)
Leverage the building’s 1920s provenance and distinctive 1960s façade for a true lifestyle destination
Top hotel brands and management companies interest secured
Building is in a Qualified Opportunity Zone and eligible for Historic Tax Credits
Near Phoenix Convention Center—with the city targeting 800–1,200 additional hotel rooms
Minutes to Mortgage Matchup Center (NBA Phoenix Suns), Chase Field (MLB Arizona Diamondbacks), and ASU Downtown Campus
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