/\ Interesting... I've worked in the immediate vicinity of this building for 8 years and it has been under construction the entire time (or stalled for a year or two during the recession). If every 54 unit 5-story renovation job took 8+ years to get off the ground, Phoenix will never see a new tallest building, lest it takes 70 years to build.
They just painted the building (with a guy on a cherry picker using a paint roller).
The entire light rail system was built faster than this building renovation.
For something kinda fun, here's a picture from 5 1/2 years ago during a July downpour (can't even see the midtown skyline):
They had recently installed the block wall around the property at this point... the storm flooded their land and they had to punch holes in the bottom of the wall to drain the water.
I've got tons of other stories about this little building that could(n't).