The second phase of the X Phoenix luxury apartment project, which has been incomplete in downtown Phoenix since 2023, recently saw a major development. A Maricopa County court judge granted a motion for summary judgment, which could force The X Company to sell the property through a foreclosure sale, as mentioned by ABC15.
In 2024, several contractors involved in the construction filed lawsuits, including one from general contractor Clayco Inc. The project, located between Second and Third avenues and Van Buren and Monroe streets, was planned to add 592 beds to an existing 506-bed, 20-story building. However, construction has stopped, and the building remains unfinished, according to ABC15.
The Phoenix Business Journal reports that phase two of the X Phoenix tower is currently delayed, with its future depending on a court-ordered decision. The ruling could lead to the forced sale of the property, potentially allowing a new entity to complete the project. The outcome of the case will impact both the X Company and the downtown Phoenix real estate market. City officials and residents are awaiting further developments as the legal process continues.
