Phoenix’s highest residential structure is about so start selling units again according to my sources. 44 Monroe will be releasing units for sale in the near future and it is estimated that buying a unit there will be much cheaper than it was only a year ago.
From Wikipedia:
Construction on the tower began in November 2005. On April 16, 2006, Grace communities hosted a “Going Vertical” party signaling the tower’s foundation was complete and construction would now be above ground. In the summer of 2007, 44 Monroe topped out. Fall 2008 saw the completion of 44 Monroe.As of August 2009, the completed project was 5% occupied[1]. In September 2009, its primary lender, Corus Bank based in Chicago, was taken over by the FDIC, and in January 2010 the project was headed for a trustees’ sale and likely foreclosureConstruction on the tower began in November 2005. On April 16, 2006, Grace communities hosted a “Going Vertical” party signaling the tower’s foundation was complete and construction would now be above ground. In the summer of 2007, 44 Monroe topped out. Fall 2008 saw the completion of 44 Monroe.As of August 2009, the completed project was 5% occupied[1]. In September 2009, its primary lender, Corus Bank based in Chicago, was taken over by the FDIC, and in January 2010 the project was headed for a trustees’ sale and likely foreclosure.
And now, coming out of the financial problems of the past — 44 Monroe is about to start selling units again.
But for a lot less than they used to sell for.