$80M Revamp of Historic Phoenix Hotel Announced

Connect CRE is excited to announce that the historic Hotel San Carlos, located at the southwest corner of Central Avenue and Van Buren Street in Phoenix, Arizona, is set for a $80 million revamp. Built in 1928 as a getaway spot for tourists and Hollywood movie stars alike – being one of the first hotels with steam heat, elevators and air-cooling – it has since been acquired by Rockbridge Capital LLC who have committed to modernizing all guest rooms and bathrooms as well as introducing new amenities such as a destination restaurant, lobby bar & basement speakeasy; reintroducing its iconic palm room & tea court; adding an outdoor pool & rooftop features; plus 5k sqft of meeting space. The renovation project will begin in Q4 2023 with completion expected by Q1 2025.