[Source: Arizona Republic] — As the [global] economic downturn grinds on, downtown Phoenix boosters have been anxiously watching sales at several new condo projects, including 44 Monroe at the intersection of Monroe St. and 1st Ave. City leaders want to revive downtown Phoenix, and getting more people to live there is a crucial part of that plan.
Although 44 Monroe wrapped up construction this year, units have been slow to sell… According to Ryan Zeleznak, Grace Communities principal, of the 196 units in the 34-story building, 96 (49%) are in escrow and about a dozen (6%) have sold (including one for $1.55 million last week).
Downtown Voices Coalition 