The Sheraton Phoenix Downtown is a $350 million (USD), high rise convention hotel, located on 3rd Street north of Van Buren Street in Downtown Phoenix, Arizona, adjacent to the Arizona Center office/retail complex and the Phoenix Convention Center, which had its North building opened in early 2008. At 31 floors it has surpassed the Hyatt Regency Phoenix, at 24 floors, as the tallest hotel tower in Arizona.