(Courtesy of P.B. Bell)

A rendering of planned development of the west side of the Barrister Place Building.

The city-owned Barrister Place Building, known for being featured in the 1960s movie “Psycho,” is being cast in a new role in downtown Phoenix. 

There were seven bidders for the property, but developers P.B. Bell and Davis Enterprises collaborated on the winning proposal.

The building is a historic icon in Phoenix, and after opening in 1915, was at one point the tallest building in Arizona.

"What we are attempting to do is preserve and enhance the Barrister Building, or the Jefferson Hotel as it was originally called, and convert the lower level, the first level and part of the basement to retail and commercial space and put approximately 35 residential units above it," said Mike Trueman with P.B. Bell.

Trueman said they also plan to develop the area surrounding the Barrister Building from what is now a parking lot into multi-family residential units.

Trueman expects that after final approval by the city council, construction should begin in about a year.