By Mike Sunnucks | Phoenix Business Journal
Mary Crozier and Bill Fettis look at the same parking lot at the North Phoenix Baptist Church at Central Avenue and Bethany Home Road and see very different futures.
Fettis is a partner at IPA Management Inc. The development firm wants to build a 146-unit, two- and three-story senior living development. The project could total between 6.6 and 7.65 acres on the very prominent Phoenix street corner.
The deal involves the church leasing the land to IPA for the development with option to buy it. The Baptist church could get $7.2 million in the deal.