Jackson Place was purchased in 2022 and is designated in an opportunity zone. The project will be 14-stories providing 262 units of residency. Since acquisition, Aardex has worked closely with the City of Phoenix to enhance and increase the value of the property by increasing the height allowance from 80' to 140' by agreeing to renovate an adjacent historical designated building (see Madison Square). Further, Aardex has worked with the city to acquire all alleys and sidewalks around the site to enhance the commercial and walkability around the block while dedicating the sidewalks back for public use. This includes a 15'+ 'paseo' that will connect downtown Phoenix with the Warehouse District. Last, Aardex worked with the City of Phoenix to qualify, then receive approval, for a State of Arizona property tax abatement called the GPLET, which offers 25-years of tax abatement at a reduced rate by providing additional value to the city, county, and state through other tax and payments over the 25-year term. The project also recently received site plan approval. This project was truly a win-win for Aardex, the City, local community, and future residents that will enhance the adjacent stadium/entertainment and warehouse districts.