Solis hotel, condo site in downtown goes for $30 million

An 11-acre redevelopment site for a planned hotel and condominiums in downtown Scottsdale was sold last week at a trustee sale for $30 million.

Scottsdale Canal Development LLC, which started assembling the property along the Arizona Canal in 2006, had planned a 240-room Solis Scottsdale hotel and 140 condos on a site that now includes a SRP substation.

Read more: http://www.azcentral.com/community/scottsdale/articles/2012/05/01/20120501scottsdale-solis-hotel-condo-site-downtown-goes-30-million.html?utm_source=newsletter&utm_medium=AZ-CRE-REPORT&utm_campaign=GPEConnect#ixzz1uCcdwBkg