An informal group calling itself the East Valley Cultural Coalition has come up with an $18 million cash offer in private money to buy the Chinese Cultural Center in Phoenix – the focus of a long-standing controversy involving a Scottsdale company.
For the past year the center’s fate has been tied up in court after 668 North LLC – a private equity subsidiary of multinational Truth North Cos. in Scottsdale – purchased 95 percent of the site in June 2017 for $10.5 million with the intention of removing the rare Chinese artifacts and converting the site into its company headquarters and a technology campus.
Protests by the Chinese-American community and multiple lawsuits ensued.
But now members of the coalition are offering True North a cash payment of $18 million to end the litigation and rescue the center.
