CaliberCos has been given a green light by the Phoenix City Council to convert two office buildings in north Phoenix into a 376-unit multifamily residential complex. The buildings total 323,000 square feet, and the site also includes a roughly 200,000-square-foot parking garage.
The buildings at 2510 and 2515 W. Dunlap Ave. were built in 1989 and 1999, respectively. (photo courtesy of AZBEX)
The Phoenix Business Journal reports CaliberCos paid $20.59 million for the buildings owned by ViaWest Group.
Caliber is not demolishing the north Phoenix buildings but doing extensive renovations. The first building is suited for remodeling into apartments. In the second building, Caliber intends to build larger two- and three-bedroom units with a den and utility closet space. It also plans on wrapping studio apartment units around the existing parking garage.
Groundbreaking is expected in August.
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