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