This Saturday night, moderate price rest. in Phoenix?
You won't find much that is trendy within a close walk of the US Airways Center. Personally, I like Thai Elephant and Bistro 101 on Adams Street, just a few block from the arena, although I seem to be the only person on this board who likes the latter. While both serve really good food, neither is particularly trendy and I'm uncertain if either currently has a liquor license.
To find something trendy would require going over half a mile north of the arena toward Roosevelt. Fate, as mentioned above, probably fits the bill for trendy. I find the food good but not great and the portion sizes too small, but it will do if trendy is the deciding factor.
I would reccomend Fate. It's Asian fusion food, so it's very Americanized, but it's around $10 a plate and quite good. The setting is very trendy; it's set in an older home, and decorated very avant garde. There's even a DJ in a loft of the house that spins drum and bass. But you have to make a reservation; for some reason they are very particular about this even though it never seems to be full outside of First Fridays. There's even a really cool little bar next door to have a few drinks afterward if you have time.
Do you have a car? If so, I'd recommend Barrio Cafe www.barriocafe.com for some really good Mexican. Or Coronado Cafe www.coronadocafe.com for updated American in a charming, but a little homey, setting. Both are a short drive (e.g. less than 5 mins) from downtown Phoenix.
If you don't have a car, I would check out 1130 at the Arizona Center or maybe Kincaid's at the Collier Center.
I would also recommend maybe Pizzeria Bianco, but you'll never make the Suns' game if you go there ...
2814 N 16th St, Phoenix, AZ 85006
2201 N 7th St, Phoenix, AZ 85006