Westroc Hospitality, a Scottsdale-based hotel development and management company, is discussing a joint venture with Noel Heller, owner of the 70-year-old Professional Building, a 12-story office building that sits at Central Avenue and Monroe Street.

A number of redevelopment plans have been proffered for the office tower, which has sat nearly empty for years. The building was last used in earnest when it was an annex for Valley National Bank, a local bank that was purchased by Bank One more than 20 years ago.

Developers have talked about transforming the Art Deco building into a 49-unit condominium project, a 176-room Hampton Inn and a 130-room Embassy Suites, among other projects.

Heller describes the meetings with Westroc as preliminary, and Westroc principals would only confirm that they have an interest in the property.

Westroc has worked on a number of signature hotel projects in the Valley. The company is currently in development on the Sanctuary on Camelback Mountain Resort, a 106-room exclusive resort. The company's principals, Scott Lyon and Bill Nassikas, also were involved in the development and operation of the Boulders Resort in Carefree, one of the highest rated resorts in the world.