Clayco Takes Over Building 95% Completed Phoenix Highrise
Clayco to the rescue! For reasons that are still not known, Tucson-based BFL Construction walked away from the 17-story Aspire construction project in Phoenix…after it was 95% completed. They’re suing Empire, the developer of the 254-unit apartment project at 3rd Avenue and Fillmore Street.
The Phoenix Business Journal reports that Chicago-based Clayco Inc. has been selected as the general contractor to finish the residential tower construction in downtown Phoenix. The $80 million project was slated to get going in March 2019 and wrap up in early 2021. But Covid got in the way, creating labor shortages and supply chain issues. Now, the project is expected to be finished near the end of this year.
In the past two years, three developers have turned to Clayco to replace a general contractor in the Valley. Clayco took over two highrise builds after builder Katerra filed for bankruptcy.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.