A pricey, 31-story apartment building is coming to Downtown Phoenix.
Phoenix Business Journal reports that a Florida developer is buying property at the Arizona Center, with plans to build a $100 million, 31-story apartment building. North American Development Group is buying a more than 39,000 square foot parcel near fifth and Van Buren streets. The planned apartment tower will have 350 units, six floors of parking with 25 floors of apartments, and will be one of the largest buildings in Phoenix, second only to Chase Tower.
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The Arizona Center is on its way to a $25 million renovation that will add parking, expand retail, and modernize the structure.
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