TEMPE, AZ-The estimated $50-million residential project along Tempe Town Lake is moving ahead. Late last month, the Tempe City Council approved plans for The Lofts at Hayden Ferry. The approval paved way for OliverMcMillan, a San Diego-based developer, to move ahead with the acquisition of the 3.7-acre parcel near Mill Avenue and Rio Salado Parkway for the project.

The four-story project will comprise 264 apartment units and a two-level underground parking facility. Construction is expected to begin by mid-2013. For the full story, go to Phoenix Business Journal .

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