Speakers at Bisnow's recent Future of Downtown Phoenix event were focused on one question: Why did Amazon leave Phoenix off its candidate shortlist for HQ2? 

Though the answers were speculative, since Jeff Bezos isn’t talking, the consensus was that Downtown Phoenix is moving in the right direction according to most growth standards and has a bright outlook, regardless of Amazon’s disinterest.

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Though some speculated the city may not have been “cool” enough to land the retail giant, momentum for Phoenix to stake its claim as a major metropolitan region has been building over the last several years. Almost everyone was enthusiastic that with a few changes, Downtown was on its way towards becoming the epicenter of a “world-class” city. While the consensus was that Phoenix isn’t there yet, the path is laid out to make it happen.

Per Bisnow, the presence of Arizona State University brought a renewed energy to the area, sparking business growth, evident in the number of restaurants, bars, and entertainment. Steering away from chain establishments, the neighborhood has become a hotspot for new eateries and bars tapping into the history and culture. And people are taking notice. From being featured in lists for Hottest New Restaurant to Essential Restaurant recaps, Downtown Phoenix eateries like Bar Bianco, Short Leash Hot Dogs, and Culinary Dropout keep showing up among them all.

Driving all of that interest in good food is the steady population increase in the area. More than 32,000 people were added to the city's population between July 2015 and July 2016, more than any other U.S. city during that time. That’s created a need for high-density apartments and condos. Developers have been more than happy to meet that need. Projects such as Summit at Copper Square and Link PHX will be a big reason for the Downtown Phoenix skyline’s upcoming shift. Eighteen hundred residential units have been created over the last two years and another 1,200 are currently under construction. There’s also 3,000 more currently in the planning stages, and even then the city will need more in order to meet demand.

According to AZ Central, the challenge for Downtown Phoenix will be whether or not it can continue to meet housing demands. Even with everything in the pipeline, it may not be enough to prevent renters from choosing affordable mortgages in the outlying suburbs instead - 150,000 more residential units will be needed by 2030 to meet growing demand. 

Still, the city is doubling down on its efforts to keep Downtown Phoenix growing. City officials are looking into ways to keep the growing number of students in the city following graduation. As Bisnow notes, “the more interesting Downtown is, the more likely they will be to stay, provided jobs are available.” Arizona State University and the biotech industry have done well to provide new jobs in the area but there will need to be more opportunities added soon.