Over three and a half acres at the northeast corner of 3rd Street and Roosevelt (also known as "Roosevelt Row") sold yesterday to Alliance Residential for a total of $11.2 million. The transaction comes after a long dispute over the property, which was home to buildings deemed historical in nature by various parties.
A four-story, 318-unit apartment complex is set to be constructed on the property, funded by a construction loan of over $40 million with National Bank of Arizona.
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