By Corina Vanek | Arizona Republic
A Tucson-based development firm is creating what could turn into a model for housing in desirable, expensive neighborhoods that average people in metro Phoenix can afford.
Holualoa Cos., a developer with high-profile projects throughout the Valley, has a new project in the Camelback corridor to to redevelop a portion of an office complex at 21st Street and Highland Avenue.
The developer bought the 13-acre site, which includes two office buildings, a 2-acre lake, a parking garage and a restaurant in late 2021 for $50 million, according to real estate database Vizzda. The company now plans to redevelop the northwestern of the portion of the site, which will include razing the restaurant, the Half Moon Sports Grill, to build 144 apartment units. They submitted plans to Phoenix in late June to begin the zoning process.
