Loft Project Interest In Downtown Phoenix Arizona

The Arizona Republic reports that a company called National Developers wants to develop a 16-story loft project called Cosmopolitan Towers at the northeast corner of Third and Pierce Streets in downtown Phoenix. The company, which builds single-family homes and small shopping centers, expects to break ground in six months. Construction time is 12 to 18 months.

Prices should run from the high $100,000s for small units to more than $1 million for each of its four penthouses. The area is getting developer attention due to homebuyer demand to be near the new ASU downtown campus, the Bioscience activity and the light rail. More...