Aug 5, 2018
The downtown Phoenix region is changing rapidly, thanks in large part to thousands of new apartments being built as well as scores of new tech jobs landing in the area.
The downtown area is receiving a boost from 2,000 apartments that have been finished during the past two years and will get another 3,000 during the next few years, according to a story from Azfamily.com.
Building high-rise apartments and condos started prior to the Great Recession, with towers such as 44 Monroe on the northeast corner of First Avenue and Monroe Street. But that building came to a halt as the real estate economy cratered.
Two apartment complexes, the Stewart and the Link, both under construction, will bring roughly 569 apartments to downtown within the next two years.
During the past few years, more apartments have come online, and current building is slated to add more than 10,000 apartments during the next year.
The continued rise of Phoenix as a place to live is fueled by an increasing number of technology and other jobs in downtown. The city has more than 300 tech firms within the downtown area which also are surrounded by amazing Historic Districts, compared with 67 in 2012, according to city officials.
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