Downtown Phoenix could see increase in jobs, retail over next five years, report says

Residents, as opposed to office workers, will be key to continuing downtown’s success, according to an economic impact study. “The lack of workers in the area could be offset by residential growth. As a result of ongoing development in the area, downtown Phoenix supported more nearly 24,000 residents in 2022 — a large uptick from the 10,000 residents downtown had in 2014.” Almost 6,000 new multifamily units are being built and 2,000 more are in the planning stages, which is spurring new retail and commercial space.

Source: https://www.bizjournals.com/phoenix/news/2023/11/08/downtown-phoenix-economic-impact.html