Ohio developer buys Centerpoint for $30M, plans to finish by summer 2011

The unfinished Centerpoint high-rise project in downtown Tempe has been sold to Cleveland-based Zaremba Group. The company will finish the two residential towers and retail space by summer 2011. Zaremba paid $30 million, according to ML Manager Chief Operating Officer Mark Winkleman, adding Zaremba was willing to pay the most and had the best chance of success. "We will immediately start construction (after closing) and a lot of mobilization will take place between now and then," said Kent Chantung, Zaremba's director of development in the Scottsdale office.

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