The Centerpoint Condominium towers in downtown Tempe were originally envisioned as high end homes with a convenient downtown Tempe location. Then the housing market collapsed and the original developer defaulted on the $135 million dollar loan. A new owner, the Zaremba Group, recently purchased Centerpoint for $30 million. The plan is now to rent out the units to “students and young professionals” as discussed in this azcentral.com article. It’s great to finally have this project come back to life and hopefully make a significant contribution to the overall Tempe economy.
Here’s a press conference video from Tempe11 announcing the sale:
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