By Audrey Jensen | Phoenix Business Journal
Artist rendering shows proposed changes for turning a Phoenix office building into an apartment complex.
Tampa, Florida-based Cedar Grove Group is planning to transform an office building into new apartments a couple miles east of the former Metrocenter mall in Phoenix.
The three-story office building is located at 8900 N. 22nd Ave. along the new Valley Metro light rail extension, which will connect across Interstate 17 to the Metrocenter redevelopment mixed-use project, the Village. It’s also in an Opportunity Zone, or an economically distressed area that offers incentives for developers investing in the property.
Cedar Grove Group is proposing to convert the building into 145 multifamily units with studio and one- and two-bedroom units with new amenities such as a pool, pickleball courts and a dog park.
The developer is currently requesting to rezone the property from industrial park to multifamily through the city of Phoenix. The city’s planning commission is scheduled to vote on the rezone April 13 following a recommendation for approval from the North mountain Village planning committee in March.
Alex Balan, director of development for Cedar Grove, told the Business Journal that this project is the company’s first in the Phoenix metro, which they were attracted to because of the growth in the region.
The facility was first developed in the 1980s and totals about 125,200 square feet and also includes an adjacent four-story parking structure, according to real estate database Vizzda.
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