Aspirant Development is set to transform the southwest corner of Central Avenue and McDowell Road in Phoenix with a new 24-story apartment tower, featuring 320 luxury units and an L-shaped design that incorporates ground-floor retail and restaurant spaces. Purchased from Donnelley Financial Solutions for $13 million, this 3.3-acre site, near attractions like the Phoenix Art Museum, will start construction in the first quarter of 2025 and is expected to be completed in about two years. The development plans include attracting a specialty grocer as a major retail tenant, alongside mid- to high-end dining options, enhancing the area's urban appeal and residential options.
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