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A 12-story luxury condominium tower is planned as the future residential centerpiece at Anchor Centre, a twin-building office campus that was sold this week for $50 million to Houston-based Patrinely Group.
The 8-acre, Class A office property at 2201 and 2231 E. Camelback Road was sold by RREEF Funds representing a U.S. pension fund.
Managing Principal C. Dean Patrinely said he is discussing the condo proposal with several contractors and architects, including the development and design team that built Esplanade Place, the luxury condo project recently finished next to the Ritz-Carlton Phoenix hotel at 24th Street and Camelback Road.
Patrinely said preliminary plans include 75 to 85 luxury units in the condo tower on the vacant 1-acre parcel immediately south of Anchor Centre's two office buildings. Construction could start before the end of 2003, he said.
"We'd like to be under way as soon as possible," Patrinely said. "It's just...