According to an AZ Republic article by Jahna Berry, Copper Pointe 2 Development LLP, the owners of the land at 3rd Avenue and Fillmore have proposed trading that piece of dirt for a piece of dirt at Central and Adams currently owned by the City of Phoenix.

The idea is that Copper Pointe 2 would build a 107 room boutique hotel on the Central and Adams piece.  The hotel would be a $20 million Starwood loft-style hotel similar to a Starwood W Hotel.  The ground floor of the hotel would include retail and hopefully a drugstore of some sort which is sorely needed in Downtown Phoenix.

Of course this proposal answers a long time question here at WeKnowUrban on what is the status of the proposed three Copper Pointe High Rise Condominiums proposed years ago for the 3rd Avenue and Fillmore land.  We had long ago assumed that that was an absolutely dead deal and the article would suggest that we were right.  It's too bad too, because the prices originally advertised for Copper Pointe were actually pretty reasonable compared to other urban high rises being built and delivered right now.  Of course, it's easy to advertise low prices and a whole other thing to actually deliver those prices.

We'll keep you posted as events develop.