Metro Pulse/Urban Renewal

The Phoenix
418 S. Gay Street
1 & 2 bdrm apartments
$990-$1875/mo.
Ready for June occupancy
Contact: Wayne Blasius
Insite Property Associates
588-6533

The Phoenix soars to upscale lifestyle

by Matt Edens

I went car shopping a few weeks ago. Ironic, I know, for somebody who fills up so much newsprint rattling on about the virtues of a less car-dependent center-city lifestyle. But in my defense, at least I was looking at small cars. There's a lot to choose from lately. Automotive trends change: although in Detroit's case things reach a ridiculous proportion before they become passe (tail fins, for example, or the '71 LTD my mom drove when I was a pre-schooler). Does anyone doubt that the SUV has reached that stage? (I suspect future historians will peg the H-2 Hummer as the, uh, tipping point). Hence, after a decade's invisibility, small hatchbacks and sedans like the Mini Cooper, Mazda Protégé, and Toyota Matrix have made a sudden reappearance.

Which, believe it or not, brings me to downtown. There are some interesting "less is more" parallels in the resurgence of downtown loft living and the retro chic of small cars like the VW Beetle. And, curiously, both trends largely appeal to the same two market segments: 20-something singles and upper-income empty nesters.

Whether we're talking cars or lofts, that broad a divergence in market demographics calls for a similar selection in product. For example, a 50-ish lawyer friend who's been looking to move downtown (and sell his house in Sequoyah Hills...) recently looked at several units in the Sterchi Lofts. The industrially inspired design has proven quite popular, particularly with downtown's younger demographic (the building's 90 percent leased). But the Sterchi's stained concrete floors, raw aluminum ductwork and factory-style sliding doors prompted the same reaction from my lawyer friend that I had to the automotive bric-a-brac of plastic air-dams and ground effects on the Toyota Matrix: "Maybe I'm a little old for that?"

So what do you do if you want a more "luxury class" loft? A C-Class Mercedes or BMW 3-series rather than the Mini or Beetle? I say check out the Phoenix Building, the preservation-tax-credit-financed revamp of the old Fowler's Furniture Building. Aimed at the upper end of the market, the Phoenix complements rather than competes with the Sterchi (and the Emporium Building, also due to start leasing this year, straddles the middle ground between both, falling in the VW Jetta category to continue the analogy).

The Phoenix as originally planned—and written about here previously—was entirely commercial space. But developers Wayne Blasius and Skip Bibb modified the concept in response to the new CityLife incentive program for downtown residential development. Now the building combines ground-floor retail & restaurant space with more than 20,000 square feet of class-A office space and 10 apartments. The result, frankly, is a better project for the developers and downtown: prime live/work space perfect for established professionals in the legal and creative fields.

There are certainly plenty of reasons why these apartments would appeal to a successful attorney, architect or art director in a design or PR firm. First off, they're big; most of the one-bedroom units are in the 1,200 sq. ft. range (in essence they're "bedroom-and-a-half" with a study/guest room). Plus they have all the traditional loft amenities: high ceilings, exposed brick and beams, hardwood floors. And they have a level of fit and finish comparable to the class-A office space downstairs: kitchens with solid maple custom cabinets, brushed-steel hardware and stainless-steel appliances, nickel-finish light fixtures, electronic security and high-speed internet access. The 1,700 sq. ft. two-bedroom unit (which has a study/guest room as well) also has a separate dining room and a master bath with whirlpool tub.

But what about your real Mercedes (or BMW, Beetle or Mini)? No problem. There's guaranteed parking in the State Street Garage. But with Market Square and the Old City just blocks away, your car's likely to spend a lot of time in the garage. When you get right down to it, that's part of the attraction. For a taste of what downtown living is like, stop by one of the upcoming open houses: Wednesdays from 4-6 p.m. and Sundays (after Easter) from 2-4 p.m. Take the tour and then enjoy food and drink specials at the Downtown Grill & Brewery and Preservation Pub.