Michael Lieb, president of Michael A. Lieb Ltd. in Phoenix, saysAlliance Residential next month will buy a site at the intersectionof 16th Street and Campbell Avenue. Construction is scheduled tobegin in the fall, with units to be delivered to market in early2010. Although the complex will carry Alliance Residential'sBroadstone brand, the project name's has yet to be determined.

Lieb negotiated the land deal between Alliance Residential andBroderson Properties LLC of Phoenix. He says the developer has landdeals working for a Downtown site and one in the northern tier."One is in escrow and the other is under negotiation," he says."Both should close by yearend."

Alliance Residential did not return calls by press time tocomment on the upcoming projects. In all likelihood, the projectswill be going vertical at a time when the multifamily market issoftening in the region.