Philadelphia-based Korman Communities and New York-based RXR have unveiled a 17-floor residential tower in downtown Phoenix.Called AVE Phoenix Sky, this 254-unit residential community at 601 N. 3rd Ave. was built by Clayco Construction, with CCBG Architects as architect and Rutledge Haro Design as interior designer.The opening of this new residential community brings the total number of units to 605 within two blocks on FIllmore Street, said Lee Anne Welsh, COO of Korman Communities and president of AVE.”We did that strategically,” she said.AVE Phoenix Terra, a midrise apartment just two blocks away at 555 N. 5th Ave., is 94% occupied, she said.Both communities offer traditional apartments with long-term leases as well as short-term leases in furnished units that can range anywhere from weeks to years, she said.About 25% of the apartments are furnished at the new AVE Phoenix Sky development, she said.Monthly rents start at $1,275 for a studio up to $2,530 for a two-bedroom unit.AVE Phoenix Sky also includes 4,350 square feet of retail space, with 3,770 reserved for a future restaurant and 580 square feet for a studio for local artists.• One of Phoenix’s largest advertising firms has moved into a new downtown office.On Advertising Inc., which recently celebrated 30 years in business, has relocated into a 14,400-square-foot office in RED Development’s CityScape tower at 1 E Washington St., #300.expandOn Advertising in February 2024 moved into its new office space at the CityScape tower in downtown Phoenix.On AdvertisingTenant improvements at the new office space include a new in-house video production studio.“We absolutely love being in the right place at the right time with RED Development as our partner,” said John Hernandez, co-owner of ON Advertising along …
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