Phoenix approves sale of historic downtown 'Psycho' building
Phoenix will sell a historic downtown landmark — made famous by its appearance in the Alfred Hitchcock thriller "Psycho" — to be converted into condos, shops and restaurants.
Crescent Bay Development Services LLC will buy the 1915 Barrister Building and adjacent land for $2.28 million under the plan approved 8-1 by the City Council on Wednesday. Councilman Jim Waring voted against the proposal for the city-owned site at Central Avenue and Jefferson Street.
The project, called Jefferson Place, is the second approved by the city to preserve the historic, vacant building that was once the tallest in the state. Previous plans for the site fell through last year, prompting the city to request new proposals.
Historic 'Psycho' building in Phoenix slated for condos
Jefferson Place will include at least 88 condos in the six-story tower as well as two new buildings. Developers will preserve the original brick facade on the iconic building, which was once the Jefferson Hotel and later converted into office space. Phoenix bought the building in 1990 and has left it vacant since 2010.
The city could pay the developer up to $1.9 million in reimbursements related to historic preservation and infrastructure improvements. Reimbursements would mostly be funded by a portion of the taxes the city will collect for the project.
No one spoke against the project at the meeting, though the city previously received multiple concerns, including complaints from rival bidders who said they offered to pay more for the building.
The Rev. Jarrett Maupin, a Phoenix activist, said he sent a letter to Arizona Attorney General Mark Brnovich on Wednesday saying the agreement's "paltry" purchase price could violate state gift clause laws. Maupin said he is acting as a community member.
City Attorney Brad Holm called Maupin's claim "frivolous" at the council meeting. Nick Wood, the attorney representing the approved project, said his client “followed the rules."
Under a previous redevelopment effort in 2014, Phoenix selected P.B. Bell Cos. and Davis Enterprises to convert the site into multifamily housing.
That team also would have protected the Barrister Building facade as part of a 114-unit rental and commercial project. The city agreed to give the development a tax break for up to 25 years.
The City Council extended the developer’s deadline to buy the building last summer but was notified the project would not go through.
