A major new residential project broke ground in downtown Phoenix. Located on a 3-acre site south of Roosevelt Street, between Third and Fourth streets, the $52-million project adds fuel to a current building boom of campus-related housing in the Southwest region.
Developed by Scottsdale, Ariz.-based Concord Eastridge and Memphis, Tenn.-based EdR, the unnamed apartment complex will contain 326 units within two buildings, one seven and the other eight stories high. The ground floors will include a total of 7,500-sq-ft of retail space, to be subdivided among several tenants depending on demand.