By Audrey Jensen | Phoenix Business Journal
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.
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