One of Phoenix’s oldest shopping centers is gearing up for a potentially major transformation.
Developers are in the process of setting up a portion of Camelback Colonnade for a new 216-unit multifamily project.
The owners of the complex, Federal Realty Investment Trust and RED Development, are targeting a 2.5-acre portion on the southwest side of the shopping center, which is located at Highland Avenue and SR 51. It includes an underutilized parking lot and a Phoenix Public Library Branch…