Colangelo Joins Team To Develop Old Monastery Site

The Phoenix Business Journal reports that Jerry Colangelo is part of a team that plans to develop the 3.3-acre Monastery site at 4114 N. 28th Street into a mixed-use development consisting of 19 luxury lofts, specialty retail, new office space and an European restaurant. The project, called Il Cortile, will also have a one-acre interior courtyard in a park-like setting.

The six single-level lofts will have about 1,325 square feet and the two story residences each will have 1,800 square feet. The price range will be $600,000 to about $1.4 million. Start of construction is targeted for March or April. More...