Demolition of homes in Phoenix begins to make room for apartments

PHOENIX — Demolition of more than 20 homes on 3.6 acres of land in central Phoenix has begun to make room for the construction of a brand new 329-unit apartment complex.

Prep work started earlier this month and construction was expected to begin later this summer, according to AZBigMedia.com.

East to west from Third and Fifth Streets and north and south from Earll Drive to Cheery Lane, the new complex called Crescent Midtown, will be the fourth development built in the Valley by Charlotte, N.C.- based Crescent Communities.

The other three developments are located in Phoenix, Scottsdale and Tempe.

Crescent Communities purchased the land on Third Street and Earll Drive for $7.5 million dollars and costs for the complex development are estimated to exceed $70 million.

Mesa-based Chasse Building Team, in charge of the construction, expects the completion of the project 18-months after the start of construction.

The development will include studio, one and two-bedroom units.

Construction jobs increased by 11,000 year-over-year from April 2017 to April 2018 in the Phoenix metro area.

Demand for more housing in the Valley has been on the rise along with Arizona’s economic an population growth in recent years.

The higher demand for housing has also resulted in an increase in rent prices across the Valley.

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