GRACE 8/7/08 2:42 PM Page 40

profile grace communities – hotel monroe and 44 monroe projects

major residential and mixed-use devel-

opments are under construction that
are expected “to alter the metroscape
for the better,” it notes.

Grace Communities’ vision, it ‘Spectacular Vision’

says, “is to bring an upscale,
urban lifestyle to metropoli- “Relying on [the founders’] talents,
tan Phoenix.” backgrounds, values and faith, they are
fostering a spectacular vision for these
Valley cities based on a legacy of innova-
tive architecture that stands the test of
time and design that fits how people
live,” Grace Communities explains.
“By developing a strategy sensitive to
the flow of people’s lives and the pulse
of our cityscapes, Grace Communities
has taken on the daunting challenge of
helping to implement more vibrant, fla-
vorful and cosmopolitan downtown
areas for Scottsdale and Phoenix.”

A ‘Jaw-Dropping’ Development
Located at the corner of Monroe and 1st
Avenue, 44 Monroe is “destined to be a
monument on the Phoenix skyline for-
ever,” Grace Communities assures.
Originally purchased as a refurbish-
ing project, the development expanded
from a 10-story building to a glass-and-
steel landmark that will stand 34 stories
high. 44 Monroe will have 202 units that
will “provide a jaw-dropping window on
the Valley’s world,” the company notes.
“44 Monroe is a big-city undertaking
at over $160 million and is reminiscent
of something you would see in Chicago
or Manhattan,” Donald Zeleznak says.
Its amenities include:
» A swimming pool and spa
» A state-of-the-art fitness center
» A high-tech entertainment room
The units range between 780 to 4,200
square feet and have sophisticated inte-
rior design, epicurean kitchens, lavish
baths and spacious rooms, according
to the company. Prices range from
$500,000 to $3.5 million.

High Demand
Prior to the development, the building
served as the headquarters of Arizona >>

40 b&c southwest fall 2008