A tax incentive that would help create the development of a Fry's grocery store in downtown Phoenix has been approved by the city council.
According to officials, the Phoenix City Council voted 7-2 in favor of entering into a tax incentive agreement that would create an "urban Fry's grocery store," according to city paperwork.
The store would be 50,000 square feet, and would sit on land that is currently called "Block 23." The land would include the creation of 1,000 parking spots. Other buildings on the property would be created and would include about 300 residential units available for rent,150,000 square feet of office space for tenants as well as space for retail and restaurants in the area.
It would also enhance "walkability and bikability" in the downtown community.
Through the agreement, the city would provide $18.3 million in tax breaks and incentives for the project.
The grocery store would be located at 125 E. Washington Street, and would replace a parcel of land currently used for parking.