East Valley group offers $18M cash to save Chinese center

For Sister Cities programs in the East Valley, the Chinese Cultural Center in Phoenix is a popular destination when they are entertaining guests visiting from China. But that site may be leveled unless an East Valley coalition can persuade the new owner to accept an $18-million cash offer to but it. / East Valley Tribune

 

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.

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