Developer starts demolition process for Atari Hotel site Article originally posted on Phoenix Business Journal on June 3, 2026 Developers have started the process to tear down a former radio station building to make way for the highly anticipated, video game-themed Atari Hotel in a bustling section of downtown Phoenix. Main & Main RoRo LLC – an entity connected to Phoenix-based Intersection Development – applied for a demolition permit at 840 N. Central Avenue on May 7, according to city permitting records. The property is home to a building constructed in 1957 that several local radio stations formerly operated out of. The city’s Historic Preservation Office needs to complete its own review and issue a demolition hold before the tear-down can proceed, according to a spokesperson with the city’s planning department. Under an exclusive license agreement with the gaming company, Intersection Development plans to build an Atari Hotel on the roughly 1.6-acre site that the developer acquired in late 2023 for $10.5 million. The hotel, designed by local architecture studio räkkhaus, is set to include 91 rooms and 60,000 square-feet immersive entertainment and video game experiences. It will also have a 2,000-person esports and concert venue, as well as a sportsbook. Atari developer still seeks crowdfunding-style investors Intersection Development is still working to attract investors to fund the project, with an expected development cost of $124 million. The firm launched a Regulation A Tier Two equity offering at the end of last year, with which it hopes to raise between $35 million to $40 million. Similar to a crowdfunding effort, investors will be rewarded depending on how much they invest – $2,500 gets a quarterly virtual Q&A with the developers; $10,000 includes an invitation to the hotel’s annual VIP gala; and $50,000 gets an investor’s name on a physical brick in the hotel’s gaming-arena walkway. Intersection is more than halfway to its goal for its initial funding round, the firm’s cofounder Zac Cohen told the Phoenix Business Journal. “This project is going to happen,” Cohen said on June 2. Under the developer’s licensing agreement with Atari, it must break ground and begin construction on or before June 30 of this year, though there is an option to push that back to Dec. 31 if Intersection pays a $50,000 extension fee. The contract also allows for nine months of additional time due to “city permitting delays or acts of god.” Find Complete Article Here: https://www.bizjournals.com/phoenix/news/2026/06/03/atari-hotel-downtown-phoenix-demolition-permit.html