Phoenix's East Valley hot spot for apartments

Rob Lyles and Michael Lieb sit at opposite ends of the residential real estate spectrum, but both see increasing rays of sunshine for apartment redevelopment projects in a real estate market that otherwise remains mostly cloudy. Lyles and Lieb say apartment-based real estate is on the rise in markets such as Scottsdale, Tempe and Chand­ler. In addition, the pair is bullish on apartment conversions and redevelopments in central and northeast Phoenix, where there are more jobs and higher wages. But both are less enthusiastic about the West Valley, which is removed from employment hubs and has lower income levels, as ...

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