Adaptive reuse delivered in Phoenix
What happened
- Aardex completed renovation of One West Madison, a historic adaptive reuse development in downtown Phoenix. - The project repurposes a historic shell into a renovated mixed-use asset. - Completed adaptive reuse projects like this show preservation can be a market-driven sustainability and repositioning strategy (shoppingcenterbusiness.com).
Why it matters
Aardex has finished renovating One West Madison, turning a century-old downtown Phoenix building into 27,000 square feet of move-in-ready commercial space. (shoppingcenterbusiness.com) The Denver-based developer announced the completion on April 14, 2026, after buying the property in 2022. The project now offers restaurant, retail and other commercial space near Footprint Center, Chase Field and the Valley Metro light rail line. (prnewswire.com) Aardex said the renovation includes about 13,500 square feet of ground-floor retail, upgraded plumbing, electrical, fire-life-safety, security and heating and cooling systems, plus dedicated parking. The basement is also being activated, with a self-storage concept called The Vault on Madison slated to open May 1. (prnewswire.com) Adaptive reuse means keeping an older building’s shell and structure while rebuilding the inside for a new use. At One West Madison, that let Aardex preserve the scale and character of the original building while delivering space that is ready for new tenants now. (prnewswire.com) The project also fits into a larger redevelopment push at Central Avenue and Madison Street. In April 2025, the Phoenix City Council approved an agreement with Aardex to redevelop 1 West Madison Street into a 14-story residential project with 262 units, 6,800 square feet of ground-floor retail and 202 parking spaces. (12news.com) Earlier planning coverage identified the preserved structure as the Pratt-Gilbert Building, a historic property at the southwest corner of Madison Street and Central Avenue. Aardex’s 2023 plan called for renovating that building for modern mixed-use use as the first phase of a two-part project. (azbex.com) More recent local coverage said the building dates to 1913 and was previously used by the courts, tying the renovation to a longer civic history in downtown Phoenix. That history is part of why the site has drawn attention as Phoenix adds housing, retail and entertainment uses around its sports and transit district. (orionprop.com) For Phoenix, the immediate result is simpler than the planning language: a long-standing downtown building is no longer waiting on a future concept. It is open, rebuilt and positioned to anchor the next phase of development around the block. (shoppingcenterbusiness.com)
Key numbers
- Aardex has finished renovating One West Madison, turning a century-old downtown Phoenix building into 27,000 square feet of move-in-ready commercial space.
- (shoppingcenterbusiness.com) The Denver-based developer announced the completion on April 14, 2026, after buying the property in 2022.
- (prnewswire.com) Aardex said the renovation includes about 13,500 square feet of ground-floor retail, upgraded plumbing, electrical, fire-life-safety, security and heating and cooling systems, plus dedicated parking.
- The basement is also being activated, with a self-storage concept called The Vault on Madison slated to open May 1.
What happens next
- The basement is also being activated, with a self-storage concept called The Vault on Madison slated to open May 1.
- Aardex’s 2023 plan called for renovating that building for modern mixed-use use as the first phase of a two-part project.
- It is open, rebuilt and positioned to anchor the next phase of development around the block.
Quick answers
What happened in Adaptive reuse delivered in Phoenix?
Aardex completed renovation of One West Madison, a historic adaptive reuse development in downtown Phoenix. The project repurposes a historic shell into a renovated mixed-use asset. Completed adaptive reuse projects like this show preservation can be a market-driven sustainability and repositioning strategy (shoppingcenterbusiness.com).
Why does Adaptive reuse delivered in Phoenix matter?
Aardex has finished renovating One West Madison, turning a century-old downtown Phoenix building into 27,000 square feet of move-in-ready commercial space. (shoppingcenterbusiness.com) The Denver-based developer announced the completion on April 14, 2026, after buying the property in 2022. The project now offers restaurant, retail and other commercial space near Footprint Center, Chase Field and the Valley Metro light rail line. (prnewswire.com) Aardex said the renovation includes about 13,500 square feet of ground-floor retail, upgraded plumbing, electrical, fire-life-safety, security and heating and cooling systems, plus dedicated parking. The basement is also being activated, with a self-storage concept called The Vault on Madison slated to open May 1. (prnewswire.com) Adaptive reuse means keeping an older building’s shell and structure while rebuilding the inside for a new use. At One West Madison, that let Aardex preserve the scale and character of the original building while delivering space that is ready for new tenants now. (prnewswire.com) The project also fits into a larger redevelopment push at Central Avenue and Madison Street. In April 2025, the Phoenix City Council approved an agreement with Aardex to redevelop 1 West Madison Street into a 14-story residential project with 262 units, 6,800 square feet of ground-floor retail and 202 parking spaces. (12news.com) Earlier planning coverage identified the preserved structure as the Pratt-Gilbert Building, a historic property at the southwest corner of Madison Street and Central Avenue. Aardex’s 2023 plan called for renovating that building for modern mixed-use use as the first phase of a two-part project. (azbex.com) More recent local coverage said the building dates to 1913 and was previously used by the courts, tying the renovation to a longer civic history in downtown Phoenix. That history is part of why the site has drawn attention as Phoenix adds housing, retail and entertainment uses around its sports and transit district. (orionprop.com) For Phoenix, the immediate result is simpler than the planning language: a long-standing downtown building is no longer waiting on a future concept. It is open, rebuilt and positioned to anchor the next phase of development around the block. (shoppingcenterbusiness.com)
