Developer to transform aging north Phoenix offices into apartments

Article originally posted on Phoenix Business Journal on April 25, 2025

A prominent developer has plans to turn a large, old vacant office park into apartments in Phoenix.

Scottsdale-based CaliberCos Inc. (Nasdaq: CWD) is planning to redevelop two office buildings in north Phoenix into a 376-unit multifamily residential complex. The buildings total 323,000 square feet, and the site also includes a roughly 200,000-square-foot parking garage.

The buildings at 2510 and 2515 W. Dunlap Ave. were built in 1989 and 1999, respectively.

Phoenix City Council in February approved a rezoning that allows CaliberCos to redevelop the property, which it bought in September for $20.59 million from ViaWest Group, according to Tempe-based real estate database Vizzda LLC. The property is located in a federally-designated opportunity zone and will benefit from tax incentives.

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