Clayco is coming to the rescue of a 95% completed 17-story apartment project in Phoenix, Arizona. BFL Construction had been working on the 254-unit Aspire construction project at 3rd Avenue and Fillmore Street before suddenly walking away from it. The developer, Empire, has since sued them for damages.
The Chicago-based Clayco Inc., as reported by the Phoenix Business Journal, has been selected as the new general contractor to finish this $80 million residential tower construction in downtown Phoenix that was originally slated for completion in early 2021 but was delayed due to Covid labor shortages and supply chain issues. Now expected near year’s end, this marks three times within two years that developers have turned to Clayco after another builder filed bankruptcy or walked away from a highrise build job.
