Wednesday, July 22, 2015

Westward Ho to Undergo Over $14 Million in Renovations

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The landmark Westward Ho building in downtown Phoenix is set to undergo a full renovation. Cathedral Development Group and its affiliates, historic owners of the building, acquired $14,138,600 in new debt yesterday with Berkadia Commercial Mortgage to fund the remodel. Arizona State University has signed a 15-year lease to occupy 15,000 square feet of the first floor to be used as a wellness clinic. DL Norton is contracted to handle the development.

The 289-unit tower has been a monument of Downtown Phoenix since its construction in 1927, when it was considered the tallest building in Arizona. The building has since been converted into HUD housing.

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