Denver developer to begin construction on historical Phoenix building

Article originally posted on Phoenix Business Journal on April 10, 2025

Aardex LLC is wasting little time in its effort to restore a more than 100-year-old downtown Phoenix building and redevelop the block it sits on.

The Denver-based real estate development firm will begin renovations later this month on the historic Gilbert-Pratt building after Phoenix City Council approved its development agreement on April 9, Aardex Principal Caleb Hebel told the Business Journal.

Council’s approval of its development agreement with Aardex comes a few weeks after it was recommended for approval by the city’s economic development and housing subcommittee.

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