More apartments are coming to downtown Phoenix. This time, they’re affordable.

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By Angela Gonzales | Phoenix Business Journal

Despite the fact that 4,000 apartments units are under construction and even more are in the pipeline in downtown Phoenix, Michael Lafferty says the $29 million project he’s building is absolutely necessary.

The founder of Phoenix-based Lafferty Construction Co. has started building the 235-unit St. Ambrose Apartments at the southwest corner of Van Buren and 12th streets near the Phoenix Biomedical Campus. This project is different, he says, because the units are more affordable for renters and won’t have some of the luxury amenities of other new downtown apartments.

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