More on what will be one of the biggest wasted developments (IMO) in midtown.
https://www.bizjournals.com/phoenix/...h-profile.html
Toll Brothers to build apartments on high-profile corner in midtown Phoenix
Toll Brothers Apartment Living plans to build an apartment community at the northwest corner of Central Avenue and Indian School Road in midtown Phoenix.
On Dec. 17, Toll Brothers (NYSE: TOL) paid $17.9 million to Bayless Investment & Trading Co., an entity tracing to Linda Bayless, for the 8.19-acre parcel, according to Tempe-based Vizzda LLC real estate database.
That land has been sitting vacant since 2009 when aging buildings were razed.
The new apartment project, known as Callia, will add to the two other apartment communities totaling 499 units the Horsham, Pennsylvania-based homebuilder is building in midtown.
Plans call for investing $132 million to build those two communities, with $62 million going to the 243 units on Fifth Avenue and Van Buren downtown and another $72 million for a 256-luxury apartment complex on Central and Thomas.
Here's a closer look at Toll Brothers' newest project:
Callia
Units: 402
Development cost: $90M
Rental rates: $1,295-$2,655
Square footage: 562-1,418
Groundbreaking: Q3 2020
Architect: Biltform
General contractor: NA
Source: Toll Brothers Apartment Living