Phoenix to decide $18M in tax break, incentives for downtown Fry’s grocery store project

 An artist's rendering shows a project proposed by RED Development that would include an “urban” Fry’s grocery store as part of a high-rise apartment, office and retail project. /Photo: RED Development

An artist’s rendering shows a project proposed by RED Development that would include an “urban” Fry’s grocery store as part of a high-rise apartment, office and retail project. /Photo: RED Development

By Brenna Goth | The Republic

The Phoenix City Council is considering a package of financial incentives worth millions for a downtown project that includes a high-rise apartment building, office space and a Fry’s grocery store. Wochit

Development of a highly anticipated downtown Phoenix grocery store could receive a major boost Wednesday, if the City Council approves a package of financial incentives worth millions for the project.

Under the proposal, RED Development would build an “urban” Fry’s grocery store as part of a high-rise apartment, office and retail project. Phoenix would provide the company $18.3 million in financial incentives as well as a long-term lease-to-purchase agreement for the city-owned land between Washington and Jefferson streets and First and Second streets.

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