The longtime midtown Phoenix home of Arizona's first Mercedes dealership has sprouted new apartments.
Parc Midtown, with 306 apartments, has opened to renters on the former site of the Phoenix Motor Company Mercedes Benz dealership at Third Avenue and Indian School Road.
The Mercedes dealership, located on the site since 1964, moved to Scottsdale in 2016. Developer Evergreen Devco paid $8 million for the property.
When businesses and residents began to move out of central Phoenix to Valley suburbs in the 1980s and 90s, the upscale car dealership remained an anchor in central Phoenix.
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Central Phoenix's apartment building boom is replacing older buildings and homes and filling longtime vacant lots with new rental homes as more people opt to live in the area.
A few blocks away from the former Mercedes dealership at Osborn Road and Seventh Avenue, construction is underway on an upscale apartment complex where an iconic Bashas' closed last year.
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The Bashas' grocery store with its big neon sign opened in 1956. A new Sprouts Farmers Market is slated to replace it.
"The growing midtown Phoenix area is becoming a mecca for individuals looking for convenience to both suburban and downtown areas of Phoenix," said Stacey Hogue, director of real estate for Greystar, which is managing the Parc Midtown complex.
Parc Midtown, where rents start at $1,085, will keep part of the site's longtime auto history.
"We value the history of Phoenix and wanted to take this opportunity to incorporate the existing architecture and building into our design," said Bruce Pomeroy, managing partner at Evergreen. "It allows us to tie the city's future to the past."
Parc Midtown's clubhouse is decorated with sculptures made from various automobile parts, emblems and photos from the opening of the original dealership.
Renters have moved into the first phase of the complex, and the rest of the development is scheduled to be completed by year-end.
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