Luxury Residential Tower in Phoenix Faces Legal Battles Over Halted Construction

The X Phoenix luxury apartment tower in downtown Phoenix faces multiple lawsuits. The general contractor for its second phase and several subcontractors have filed claims alleging tens of millions of dollars are owed for completed work on the stalled project. Nearly a year after construction halted, the future of the second phase remains uncertain. Since late April, at least seven lawsuits have been filed, with the most significant coming from Chicago-based Clayco Inc. Tghe company alleges it is owed at least $32.3 million as of May 17, plus an additional $3.9 million in accrued interest, due to the owners’ breach of contract for failing to make timely payments.

 

Source: https://www.bizjournals.com/phoenix/news/2024/07/29/x-phoenix-faces-multiple-lawsuits.html

Subscribe to The Home Front

Fill out the information below to join our newsletter.

This field is for validation purposes and should be left unchanged.