Rentals to Rescue Tempe

Looks like the clouds looming over Tempe’s Mill Ave are finally lifting. Multiple media outlets are reporting that an Ohio developer has purchased the stalled Centerpoint condo towers for $30 million. Scheduled to open by summer 2011, the new owners have smartly decided to convert the project into luxury rentals for upperclassmen (read: rich) ASU students. Which makes more sense than hoping hundreds of millionaires will suddenly rush to buy condos overlooking a college town.

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Continuing the Discussion

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