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Press Release

Date: February 22, 2005

Height Cap for Tower Discussed

Arizona Republic

Phoenix, AZ -

Biltmore - Donald Trump isn’t the only one hoping to erect a high-end residential tower in the Camelback Corridor.  And he also isn’t the only one facing possible disappointment. 

 

Bruce Gray, president of Phoenix-based Gray Development Group, has his eye on developing the southwest corner of 24th Street and highland Avenue.  The group recently acquired the land and has just begun to consider options for it. 

 

Gray presented preliminary ideas for the property to the Camelback East Village Planning Committee’s subcommittee.  Gray would like to see building heights in the 24th Street and Highland Avenue area set at a maximum of 140 feet, with an average height of 110 or 120 feet.  That would allow him to build a tower of condominiums for rent and sale.  The building would be 10 to 14 stories. 

 

But the subcommittee voted to recommend keeping the 56-foot maximum.  Craig Steblay, subcommittee chairman, said he felt this was the best option because the buildings surrounding it aren’t higher than 48 feet. 

 

Trump wants to build an 18-story condominium hotel on the southeast corner of Camelback Road and 26th Street. 

Media Contact:
Bruce Gray
President
602.954.0109

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About Gray Development Group
Gray Development Group is a fully integrated real estate company focused on creating innovative multi-family residential communities. The talented real estate professionals of Gray Development Group provide considerable expertise in the areas of: Real Estate Development, Construction Management, Asset Management, Property Management, Architectural Design and Land Planning. Find out more about Gray Development Group at www.graydevelopment.com.


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