Twin-tower condominium project will be a pair of 36-story buildings at the northeast corner of Central and Columbus avenues. The $250 million dollar project is expected to start mid 2007 with completion of the first tower by the end of 2008.

Prices range from $300,000 to $2 Million, 600 to 2,700 square feet with styles ranging from studios and lofts to three-bedroom penthouses. The towers include 500 units and 15,000 square feet of retail space on the ground level.

The project was originally called Sky Phoenix, but later changed to Cielo, which means “sky” in Spanish because it turned out to be different from the Las Vegas project called Sky Las Vegas. Aaron Yashouafar, chief executive of Milbank Real Estate Services, and David Pourbaba, chief executive of 4D Development, say they chose Phoenix for their alternative-living venture because “it’s a prime-time to come and do urban living right,” Yashouafar said. They also said that a big attraction to Phoenix is the upcoming light rail.

Top floor residences will have walk-around balconies angled to provide maximum views, developers said. Focus groups in the Central Corridor and in Chicago influenced the project, convincing them to provide a dog run, outdoor movie screen and a roof-top garden with a bar, hot tubs and fire pits.

Stay informed at www.cielophoenix.com

Read More at www.phoenix.bizjournals.com

Source: The Business Journal of Phoenix - September 22, 2006 by Christia Gibbons, The Business Journal